Toss Bank said on the 11th that it plans to claw back the foreign exchange amounts traded at the time of the yen exchange rate error that occurred on the 10th.
Through a notice that day, Toss Bank said, "Yen currency exchange transactions executed during the period will be corrected and canceled in accordance with Article 8(3) of the Electronic Financial Transactions Act and Toss Bank's Standard Terms and Conditions for Electronic Financial Transactions." Toss Bank said, "During an internal inspection on the 10th, an error occurred in which the yen exchange rate was mistakenly displayed at about half of the actual market rate for seven minutes from 7:29 p.m. to 7:36 p.m."
Toss Bank said, "At the time of the incident, the bank was conducting inspection and improvement work to ensure stable operation of the foreign exchange system, but due to unintended effects during this process, a problem occurred in which the yen exchange rate was posted differently from normal standards." It added, "We detected the situation through an abnormal exchange rate self-alert system and took immediate action, normalizing the rate-posting system about seven minutes after the situation arose."
Toss Bank said in advance, "Yen currency exchange transactions executed during the period will be corrected and canceled in accordance with Article 8(3) of the Electronic Financial Transactions Act and Toss Bank's Standard Terms and Conditions for Electronic Financial Transactions." It added, "Toss Bank takes this matter very seriously," and said, "We will strengthen future system inspection procedures and thoroughly improve the overall exchange rate posting process to prevent a recurrence of similar cases."