Huo Xing Finance reports that, on July 23, according to Digital Asset, the Korean court will issue its first-instance judgment on August 27 regarding the Bithumb Bitcoin misissuance incident, with the involved users accused of selling the erroneously received BTC and holding approximately 194 million KRW in cash. Bithumb has previously filed unjust enrichment recovery lawsuits against four users, with the total claim amounting to approximately 500 million KRW. In February this year, Bithumb mistakenly credited Korean won points as Bitcoin during an event reward distribution, subsequently initiating a recovery process and stating that, as of March 10, it had recovered 99% of the 1,788 BTC that had not been reclaimed.
Bithumb's BTC Misissuance Case to Be First Judged on August 27
MarsBitShare
Summary
A South Korean court will deliver its first ruling on August 27 in Bithumb’s BTC misissuance case. Four users reportedly sold mistakenly received BTC worth 194 million KRW. Bithumb is pursuing claims for unjust enrichment, seeking up to 500 million KRW. In February, the exchange erroneously credited won points as BTC during a promotion and recovered 99% of 1,788 BTC by March 10. As BTC remains a hedge against inflation, the legal outcome could impact risk-on assets in the crypto markets.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.