Bithumb Wins Two Lawsuits Over Mistaken Bitcoin Credits
South Korean cryptocurrency exchange Bithumb has won two lawsuits against users who sold Bitcoin it mistakenly credited to their accounts. The Seoul Central District Court ruled in favor of Bithumb on Wednesday and Thursday, covering claims for 194 million won ($140,000) and 5 million won ($3,600), respectively.
The mistakes occurred during a promotional event in February when an employee selected Bitcoin instead of Korean won as the payment unit. As a result, customers were credited with 620,000 BTC, worth over $40 billion at the time. Bithumb has recovered 618,212 BTC (99.7%) but is seeking to recover proceeds from sales made by some users.
The exchange filed four unjust enrichment lawsuits in March against users who sold the mistakenly credited Bitcoin and did not return the proceeds. Two other lawsuits remain pending, seeking about 14.8 million won ($10,700) and 500 million won ($362,000).