South Korean Court Rules in Favor of Bithumb Users in Bitcoin Mistaken Transfer Case

BlockBeats News, August 27th - The Seoul Central District Court issued the first-instance judgment on August 27th regarding the Bitcoin misdelivery incident of Bithumb, South Korea's second-largest cryptocurrency exchange, ruling that the relevant users return approximately 194 million Korean won of the proceeds from Bitcoin sales to Bithumb.

Prior to this, Bithumb, due to a mistake in an activity reward operation, erroneously input rewards originally denominated in Korean won as BTC, resulting in the mistaken issuance of about 620,000 BTC. In March, lawsuits were filed against four users who sold the misdelivered BTC but did not return the proceeds; the other cases involved amounts of approximately 500 million, 14.8 million, and 5 million Korean won. The South Korean Financial Services Commission previously stated that the incident involved BTC with a book value of about 6.1 trillion Korean won. (Digital Asset)