Bithumb wins second court ruling over mistaken bitcoin payout

Bithumb has won a second court ruling ordering a customer to hand back proceeds from bitcoin the exchange mistakenly paid out in February. 

The company has two related suits that are still awaiting judgment. And while Bithumb fights to recover the last of the money it mistakenly paid out, smaller domestic rivals are offering lower trading fees.  

Why is Bithumb taking customers to court? 

Kim Yu-seong, a single-judge civil court judge in the Seoul Central District Court’s Civil Division 90, has sided with Bithumb in an unjust enrichment claim against a user identified only as A. The disputed sum in the case is 194,000,443 won, the second-largest of the four claims Bithumb filed.

A day earlier, on Aug. 26, the same court ruled in favor of Bithumb in a separate suit worth 4,989,990 won. Both cases were handled through public notice service, which is a procedure courts use to deem documents served, by posting them, when a defendant’s address or workplace cannot be found.

Bithumb’s back-to-back wins sets a good precedent for the two suits that are still undecided, with claims of 500 million won and 14.8 million won outstanding. 

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