Bithumb Wins Court Ruling Over BTC Crediting Error Proceeds
A South Korean court has ruled in favor of Bithumb in one of four unjust enrichment lawsuits against users who sold Bitcoin (BTC) mistakenly credited earlier this year.
The Seoul Central District Court ordered the defendant to return proceeds from the sale of the BTC that the crypto exchange erroneously credited, local news outlet Digital Asset reported.
The case, which is the second-largest of the four related civil suits Bithumb filed in March, involved roughly 194 million Korean won ($140,513). The largest one is worth 500 million won ($362,229).
In February, the South Korean exchange accidentally credited 620,000 BTC (then worth around $43 billion) internally to hundreds of users as part of a promotional campaign giveaway. The error reportedly stemmed from a staff member inputting the reward unit as BTC instead of KRW (Korean won). This brief incident caused the BTC-KRW pair on the platform to plummet about 15%, affecting a larger pool of users.