A South Korean court is set to deliver the first first-instance ruling on Aug. 27 in the Bithumb mistaken Bitcoin transfer case, according to Odaily. The case centers on users who allegedly sold BTC they received by mistake after the exchange misclassified Korean won reward points as Bitcoin during a promotional payout earlier this year. One user involved in the case is accused of selling the wrongly received BTC and retaining about 194 million won in cash. Bithumb has already filed lawsuits against four users, seeking the return of unjust enrichment, with the largest claim reaching about 500 million won. The exchange said it began recovery procedures after the payout error and stated that, as of March 10, it had recovered 99% of the 1,788 BTC that had not yet been returned. The Aug. 27 hearing will mark the first court judgment in the dispute.
A South Korean court will issue its first first-instance ruling on Aug. 27 in the Bithumb mistaken Bitcoin transfer case, according to Odaily.
In the case, a user is accused of selling BTC that had been received by mistake and holding about 194 million won in cash.
Bithumb filed claims against four users
Bithumb previously filed lawsuits against four users, seeking the return of unjust enrichment. The amount in the largest case is about 500 million won.
Error traced to a February reward payout
The exchange said that during an event reward distribution in February this year, Korean won points were mistakenly recorded as Bitcoin. It then started recovery procedures. Bithumb said that as of March 10, it had recovered 99% of the 1,788 BTC that had not been returned.
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