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Crypto Exchange Coinnest Loses $15 Million Due To Accidental Airdrop

South Korean-based crypto exchange Coinnest has recently been reported to have lost a total of $15 million in an accidental airdrop it sent out to its clients and is now seeking ways of getting them back.


During the previous week, Coinnest announced that it lost over $5.3 million in bitcoins and other cryptocurrencies that were sent out to customers due to a computer error. The exchange was originally trying to airdrop We Game Tokens (WGT) when this unfortunate accident occurred.

Furthermore, due to some issues with the server, certain customers are also gained Korean won (the name of the currency used in South Korea) from the exchange. At the current moment, Coinnest has no plans in place to compensate its customer base for any losses suffered due to its server problems.

Fortunately, Coinnest’s server issues were dealt with by the 19th of January, and the company does plan to roll back transactions in order to restore their assets. It’s also requested any of their customers who received the airdrop to kindly return the funds they gained by mistake.

At the moment, only half of the Won has been accounted for and the exchange is still waiting for the other half to be returned.

Even so, certain traders who did receive the bitcoins decide to sell their new holdings immediately, which lead towards bitcoin’s price to flash-crash downwards to $50.

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Keith Wang

Keith Wang is a writer and programmer specializing in bitcoin and blockchain technology. Keith has been a long time believer of bitcoin and blockchain technology and spends his free time following up with blockchain news. You can contact Keith at

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