Bithumb Wins Second Court Ruling Over February Bitcoin Credit Error
Bithumb's efforts to recover from a February error that mistakenly credited hundreds of users with approximately 620,000 BTC have yielded another court victory. The Seoul Central District Court ordered one customer to return around $140,400 (194 million won) after they sold the mistakenly credited BTC. This cash constitutes unjust enrichment, according to the ruling.
The exchange filed a claim in March to recover funds linked to the February error, which occurred during a random-box promotion for small cash prizes. A staff member accidentally entered Bitcoin instead of Korean won, causing internal records to show roughly 620,000 BTC across hundreds of accounts. This figure was significantly higher than Bithumb's actual holdings of about 40,000 BTC.
The miscredit sent the BTC/KRW pair down by around 17% and prompted South Korean regulators to examine the case. Authorities later required licensed exchanges to reconcile customer ledgers with actual holdings every five minutes.