Bithumb Wins Second Lawsuit Over Mislabeled BTC Crediting Error

Bithumb, a South Korean cryptocurrency exchange, has won its second lawsuit related to a major crediting error that occurred in February 2018. During an event, Bithumb mistakenly credited over 620,000 BTC to hundreds of users.

The mistake was caused by one of the exchange's employees who incorrectly identified BTC as Korean Won (KRW). As a result, the trading pair for Bitcoin/KRW fell by 15%, affecting not only those involved in the distribution but also Bithumb's overall market activity.

One of the users involved in the case has been ordered to repay around 194 million KRW ($140,513) after selling the wrongly credited Bitcoins. This is the second-largest out of four civil suits filed by Bithumb.

This ruling comes as Bithumb prepares for an initial public offering (IPO) in 2028 and attempts to resolve its February Bitcoin mistake through other legal processes.