Bithumb wins 2 suits over mistaken Bitcoin credits: Report

South Korean cryptocurrency exchange Bithumb has reportedly won first-instance rulings in two lawsuits against its users to recover proceeds from Bitcoin it mistakenly credited to their accounts.The Seoul Central District Court ruled for Bithumb on Wednesday and Thursday in two of four lawsuits against users who sold Bitcoin mistakenly credited to their accounts, according to a Chosun Biz report.Thursday’s ruling concerned a claim for 194 million won ($140,000), while Wednesday’s covered a claim for 5 million won ($3,600). Two other lawsuits seeking about 14.8 million won ($10,700) and 500 million won ($362,000) remain pending.Both cases proceeded through service by public notice because court documents could not be delivered to the defendants through ordinary methods, the report said.The reported rulings advance Bithumb’s efforts to recover funds from its February error, when the exchange mistakenly credited 620,000 BTC, worth more than $40 billion at the time.Bithumb goes after Bitcoin sale proceedsBithumb said the error occurred during a promotional event on Feb. 6, 2026, when it planned to distribute 620,000 won, or about $420 at the time, in rewards to 249 users. An employee m...