Bithumb Wins First Lawsuit Against User Who Refused to Return Mistaken Bitcoins

South Korea-based cryptocurrency exchange Bithumb has won its first lawsuit against users who failed to return Bitcoins mistakenly sent during a reward distribution campaign in February. The campaign sent 620,000 Bitcoin to user accounts, with an estimated market value of $5 billion at the time.

The court ruled that approximately 194 million South Korean won ($145,000) earned from selling the errantly sent Bitcoins must be returned to Bithumb. This decision sets a significant precedent for similar cases and could strengthen the exchange's position in ongoing lawsuits against other users who did not return the assets.

Bithumb had announced in March that it recovered 99% of the mistaken distributions, but some users refused to refund the remaining amounts, prompting the company to seek legal action. The decision in this first case may influence the outcome of the three other lawsuits filed by Bithumb against users who failed to return the assets.