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Crypto

Bithumb says it will compensate mistaken bitcoin deposit incident customers 110 percent

Bithumb announced a full compensation plan and measures to prevent a recurrence after a mistaken bitcoin deposit incident. It will pay panic sellers during the 6:30 p.m. to 6:45 p.m. window the full price difference plus an additional 10 percent, to be paid within a week after data verification. All customers connected at the time will also receive 20,000 won each. Bithumb will cut trading fees to 0 percent for seven days and set up a 100 billion won customer protection fund.

Crypto

FSS dispatches inspection team to Bithumb; Financial Services Commission calls emergency meeting

South Korea’s Financial Services Commission and Financial Supervisory Service moved on Friday to respond to a case involving the mistaken payout of a large amount of bitcoin at domestic crypto exchange Bithumb. The FSS held an emergency meeting led by Governor Lee Chan-jin and dispatched an on-site inspection team. The team will examine the cause, user protection steps, recovery prospects and any illegalities. The FSC also plans an emergency meeting led by Vice Chairman Kwon Dae-young.

Industry

Waymo unveils 'Waymo World Model' autonomous driving simulation technology

Waymo, Google's self-driving unit, unveiled the Waymo World Model on Feb. 6, a frontier generative model that creates large-scale, highly realistic autonomous driving simulations. Waymo said the model is a core element for validating safety in its AI ecosystem. Built on Google DeepMind's universal world model Genie 3, it is tuned for complex real-world driving. It can simulate rare events such as tornadoes and encounters with wildlife.