The cryptocurrency exchange said on Saturday it had accidentally given away the bitcoin to customers as promotional rewards, triggering a sharp selloff on the exchange.

Lee Chan-jin, Governor of the Financial Supervisory Service, told a press conference that there was a need for improved regulatory mechanisms to address such risks, adding that authorities will seriously consider the problems revealed by the incident as they seek to bring digital assets under regulatory control with legislation.

“It is a case that shows the structural problems of electronic systems for virtual assets. There are many areas we are seriously looking into, and we are particularly worried about the issue of electronic systems,” Lee said.

–Reuters–