Bithumb Identifies Millions of Dormant Accounts Holding $202M

South Korea’s second-largest crypto exchange, Bithumb, has disclosed that more than $200 million in customer assets. That remains dormant across millions of inactive accounts. The findings come from a recovery campaign aimed at users who have not logged in or traded for over a year. The data offers a rare look at how much early retail capital still sits untouched on centralized exchanges. This long after earlier crypto cycles faded from view.

Dormant Balances Span Over a Decade

Bithumb said it identified about 291.6 billion won, or roughly $201.8 million, in dormant assets spread across 2.6 million accounts. Some of these accounts have shown no activity for more than ten years. The single largest dormant balance was valued at approximately $2.84 million. 

In the most extreme case, an account remained inactive for 4,380 days, close to twelve years. These figures point to users who entered the market during crypto’s early adoption phase and never returned. The exchange began reviewing accounts as part of a campaign targeting users inactive for more than one year. It plans to notify eligible customers and guide them through account recovery.

Why Millions of Accounts Went Quiet

The scale of inactivity reflects how crypto adoption evolved in its early years. Many users opened accounts during bull markets, often with small amounts. Then, it disengaged as prices fell or interest shifted. In some cases, users forgot they held assets at all. Others assumed their balances were too small to matter. Over time, price appreciation turned some of those holdings into significant sums without the owners realizing it. Long-running exchanges like Bithumb now act as records of those early cycles. Dormant accounts capture a period when retail participation dominated the market. Before institutional products and custody solutions became common.

Some Forgotten Assets Beat Bitcoin Returns

Bithumb noted that certain dormant holdings recorded gains exceeding 61,000%. Or roughly 610 times their original value. These returns came from assets acquired at very early stages of market development. For comparison, Bitcoin traded near $767 on January 1, 2014. At recent prices around $87,700, that represents gains of about 11,300%, or 114 times. Some forgotten tokens on Bithumb therefore outperformed Bitcoin over a similar period. The contrast highlights how early exposure, combined with long-term inactivity.  This can lead to extreme outcomes. It also shows how much historical value remains parked on exchange balance sheets rather than circulating in the market.

Recovery Efforts and Market Implications

Bithumb has run similar initiatives before. During its 11th anniversary campaign last year, around 36,000 users reclaimed dormant assets worth roughly $50 million. The current effort is far larger, reflecting the platform’s age and market growth. The exchange framed the campaign as part of customer protection efforts. Beyond individual recoveries, the data carry broader implications. 

Dormant assets represent potential future supply. If reclaimed and sold, even partially, they could influence liquidity in certain markets. The disclosure also raises questions about how exchanges manage long-inactive accounts. As platforms mature and regulatory scrutiny increases. Currently, Bithumb’s findings serve as a reminder that crypto’s early retail wave left behind real capital. Still sitting quietly, waiting to be rediscovered.