Bithumb Wins Two Lawsuits Over Mistaken Bitcoin Credits

Bithumb, a South Korean cryptocurrency exchange, has won two lawsuits against its users in an effort to recover funds from a February error. The Seoul Central District Court ruled in favor of Bithumb on Wednesday and Thursday in two out of four lawsuits against users who sold Bitcoin mistakenly credited to their accounts.

The court rulings concerned claims for 194 million won ($140,000) and 5 million won ($3,600). Two other lawsuits seeking about 14.8 million won ($10,700) and 500 million won ($362,000) remain pending.

Bithumb mistakenly credited its users with 620,000 BTC worth over $40 billion in February after an employee selected Bitcoin instead of Korean won as the payment unit during a promotional event. The exchange recovered 618,212 BTC, or 99.7% of the mistakenly credited amount.