The error happened on February 6 when one of its staff mistakenly sent Bitcoins instead of the Korean currency as a reward to participants in a promotional event for users. The rewards targeted 695 users in total.

Overall, the cryptocurrency market globally has reduced in value by $2 trillion from an all-time peak of $4.379 trillion in early October, with $800 billion of the loss occurring in the last month alone, according to CoinGecko.

PCCI is heading the initiative

The agency stated that the suspect allegedly created accounts under the names of his two employees.