Bithumb Discovers Over $200 Million in Dormant Cryptocurrency Across 2.6 Million Accounts

South Korea's leading cryptocurrency exchange, Bithumb, has recently found more than $200 million in customer funds that have been inactive across approximately 2.6 million accounts.

Key Takeaways:

Bithumb has identified over $200 million worth of dormant crypto assets across 2.6 million inactive accounts.
One account reported a balance of $2.84 million after nearly 12 years of inactivity, illustrating the trend of early adopters who never returned to their investments.
Some dormant accounts experienced gains exceeding 61,000%, demonstrating how long-term inactivity can amplify early-stage crypto investments.

This information was released as part of a campaign focused on recovering dormant assets from users who have not logged in or engaged in trading activities for more than a year, according to Finance Feeds.

Bithumb noted that the inactive balances amounted to around 291.6 billion Korean won, which is approximately $201.8 million. Some accounts had been dormant for over ten years.

Bithumb Finds Over $200M in Dormant Crypto Across 2.6M Accounts

Dormant Account Holds $2.84 Million After 12 Years

Bithumb revealed that the largest dormant account balance was approximately $2.84 million.

The longest-standing dormant account had been inactive for a staggering 4,380 days, which is nearly 12 years, indicating that early investors who entered the market during its early days did not return.

This discovery sheds light on the initial retail-driven phase of the cryptocurrency industry when users typically purchased small amounts of digital assets without anticipating significant long-term gains.

Many of these accounts remained forgotten as market enthusiasm waned, trading platforms evolved, or personal interests dwindled.

In some instances, users may have assumed their digital holdings were trivial, not realizing that years of price appreciation had significantly increased their value.

Bithumb observed that some dormant assets showed gains surpassing 61,000%, approximately 610 times their original worth.

These remarkable returns reflect assets acquired during the initial phase of crypto adoption, before the market gained widespread public interest and institutional involvement.

For perspective, Bitcoin was trading at roughly $767 at the beginning of 2014. With recent values soaring near $87,700, that represents a staggering gain of about 11,300%, or roughly 114 times.

Therefore, many forgotten assets held on Bithumb have outperformed Bitcoin during the same period, highlighting how early entry combined with prolonged inactivity can lead to extraordinary results.

Bithumb has previously conducted similar recovery efforts. During its 11th anniversary campaign last year, the exchange reported that about 36,000 users reclaimed dormant assets valued around $50 million.

The current initiative is broader in scope, reflecting both the longevity of the platform and the expansion of the cryptocurrency market over time.

Bithumb plans to reach out directly to eligible customers, assisting them with account recovery as part of its commitment to customer protection.

Beyond individual users, this revelation has wider implications for the cryptocurrency market. Dormant balances indicate potential supply that could re-enter the market during future cycles.

Upbit Moves 99% of Customer Assets to Cold Storage After $30 Million Hack

In other news, Upbit is migrating nearly all customer assets into cold storage following a security breach in which hackers stole 44.5 billion won (around $30 million) from its Solana hot wallet. This action represents one of the most robust security measures implemented by a major exchange to date.

The platform's operator, Dunamu, stated that it will increase its cold storage ratio to 99% and aim to reduce hot wallet exposure to nearly zero, exceeding South Korea's regulatory requirement that mandates at least 80% of user funds to be securely stored offline.

As of the end of October, Upbit had preemptively stored 98.33% of its assets in cold storage, the highest percentage among local exchanges, but has accelerated its safety protocols following the cybersecurity incident.

Authorities in South Korea have launched an investigation, and local reports suggest early assessments that link the attack to North Korea’s Lazarus Group.