Toss Bank said in a regulatory filing on March 25 that the total transaction amount during the yen half-price exchange error was tallied at 27.7 billion won.
It expects a loss of about 1.25 billion won at the current time, including amounts it could not recover after funds were moved to other accounts after the exchange.
Toss Bank canceled all exchange transactions made due to the error, but it could not recover the full amount because some funds had already been transferred outside.
The error occurred from 7:29 p.m. on March 10 for about 7 minutes during the yen exchange process, applying an exchange rate in the 472 won range per 100 yen. The normal exchange rate at the time was around 934 won per 100 yen.
Toss Bank paid 10,000 won each to customers who traded during that time period as compensation.
Ji-young Lee
ljy@d-today.co.kr