Bithumb wins 2 suits over mistaken Bitcoin credits: Report
Bithumb reportedly won first-instance rulings in two suits seeking proceeds from users who sold Bitcoin credited in its $40 billion error.
Seoul Central District Court recently issued favorable rulings for cryptocurrency exchange Bithumb in two lawsuits filed by users who had sold Bitcoin mistakenly credited to their accounts. The rulings, released on Thursday and Wednesday, were both in favor of Bithumb, which had won in two of four lawsuits filed against errant users.
The first-instance rulings relate to claims totaling 194 million won ($140,000) and 5 million won ($3,600). Two additional lawsuits totaling 14.8 million won ($10,700) and 500 million won ($362,000) are still pending. The 620,000 BTC, worth over $40 billion, mistakenly credited to user accounts during a promotional event on February 6, 2026, led to the legal action.
Bithumb recovered 99.7% of the mistakenly credited Bitcoin, but some users had sold their shares before the exchange halted affected accounts. Bithumb filed the lawsuits in March, seeking monetary compensation rather than Bitcoin. South Korea's Financial Supervisory Service (FSS) investigated Bithumb over the error, initiating sanctions proceedings in early August, though no final penalty has been announced as of publication.
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