South Korean crypto exchange Bithumb said it mistakenly distributed more than $40 billion worth of Bitcoin to customers during a promotional rewards event, triggering sharp price volatility last week for bitcoin’s price.

The exchange said the incident occurred when a planned giveaway of small cash rewards was processed incorrectly. Instead of awarding about 2,000 Korean won, or roughly $1.40, some users received at least 2,000 Bitcoin each.

The error resulted in the accidental distribution of roughly 620,000 Bitcoin, valued at approximately $44 billion at current prices.

Bithumb apologized for the mistake and said it has now recovered 99.7% of the excess Bitcoin. The…

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