Bithumb Secures First Trial Win in Lawsuit Over Bitcoin Overpayment
Bithumb has won its first trial in a lawsuit to recover Bitcoin overpaid during a promotional event. The incident occurred on February 6, when Bithumb mistakenly paid out 620,000 Bitcoin instead of approximately ₩620,000 (about $450) in Korean won. This error resulted from the exchange entering 'Bitcoin' as the unit, rather than the intended Korean won.
The court ruled in favor of Bithumb, with Judge Kim Yu-seong finding that the users had no legal basis to hold onto the virtual assets. The claim amount is approximately ₩194 million (roughly $140,000).
Legal experts say this outcome was predictable, citing precedent from a similar case involving Bybit in 2023, where the exchange mistakenly distributed approximately 15.3 million Tether (USDT) due to a program error.