Bithumb Wins First Instance in Bitcoin Misdelivery Recovery Case

The South Korean cryptocurrency exchange Bithumb has won the first instance of a recovery lawsuit related to a Bitcoin misdelivery incident, with the court ruling that users who received the mistakenly sent Bitcoin must return approximately 194 million Korean won (about $145,000). In February of this year, Bithumb mistakenly distributed 620,000 Bitcoins (worth about $5 billion at the time) due to an error in activity rewards, causing a significant uproar. Subsequently, Bithumb initiated a recovery process and reported in March that 99% of the mistakenly sent Bitcoins had been retrieved. This ruling is the first judgment in four lawsuits filed against users who have not returned the funds, and the likelihood of Bithumb winning the remaining three lawsuits has also increased. The court's reasoning for the ruling and whether the defendants will appeal have not yet been disclosed.

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