Bithumb wins 194M won Bitcoin recovery lawsuit

Bithumb won the first ruling in four civil lawsuits seeking to recover proceeds from Bitcoin mistakenly credited to customers during a February promotional event. Summary Bithumb won a first-instance order requiring repayment of approximately 194 million won in mistaken proceeds. The August 27 judgment was the first ruling among four separately filed civil recovery lawsuits. Bithumb accidentally credited 620,000 BTC internally while intending to distribute 620,000 won total in rewards. Claims against four defendants total 714 million won, based on amounts reported by Digital Asset. South Korean regulators ordered five-minute ledger reconciliations and stronger controls following the February operational failure. Judge Kim Yu-seong of the Seoul Central District Court’s 90th Civil Division ruled for Bithumb on Aug. 27 and ordered the defendant to return approximately 194 million won as unjust enrichment. The decision is a first-instance judgment and may be appealed. No appeal or deadline for the remaining three rulings had been publicly reported when the judgment was announced. Bithumb’s first case involved 194 million won Bithumb filed separate civil claims against four users in Mar...