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Bithumb Wins Second Lawsuit Over 620,000 BTC Crediting Error

Bithumb has won its second civil lawsuit in an effort to recover funds from a major 2018 accounting error. The Seoul Central District Court ordered a defendant to repay approximately $140,513. This case is part of four lawsuits filed after Bithumb mistakenly credited over 620,000 Bitcoin to users during a promotion, due to an employee confusing BTC for Korean won. The error caused a 15% drop in the BTC/KRW trading pair and attracted regulatory scrutiny. While this latest ruling strengthens Bithumb's legal position, other related lawsuits remain ongoing. The legal battles coincide with the exchange's announcement of plans for an Initial Public Offering (IPO) targeted for 2028.

TheNewsCryptoAyer 12:41

Bithumb Wins Second Lawsuit Over 620,000 BTC Crediting Error

TheNewsCryptoAyer 12:41

Company Bithumb Wins First-Instance Lawsuit Over Compensation for 'Missing Bitcoins'! Here Are the Details

South Korean cryptocurrency exchange Bithumb has won the first in a series of lawsuits seeking the return of wrongly distributed Bitcoin. The court ordered the return of approximately 194 million Korean won (about $145,000 USD), proceeds from the sale of the erroneously sent Bitcoin. The case stemmed from an error in a Bithumb reward distribution campaign in February, where a total of 620,000 Bitcoin (reportedly worth around $5 billion at the time) were mistakenly sent to user accounts. After realizing the mistake, Bithumb initiated a recovery process, claiming in March to have retrieved about 99% of the assets. The exchange then filed lawsuits against users who did not return the remaining funds. This ruling is the first of four similar cases filed by Bithumb. A favorable outcome in this initial case could strengthen Bithumb's position in the three other pending lawsuits. The incident highlights the operational risks in automated cryptocurrency distribution systems and the legal avenues for recovering erroneous transfers. The final outcomes of these cases may set an important precedent regarding user liability for similar cryptocurrency transfer errors.

cryptonews.ruAyer 08:26

Company Bithumb Wins First-Instance Lawsuit Over Compensation for 'Missing Bitcoins'! Here Are the Details

cryptonews.ruAyer 08:26

Claude Crashes Three Times a Day, API, App, Cowork All Down, Workers Left in the Dark

On August 24th, Anthropic's AI assistant Claude experienced three major outages, crippling its API, web app (claude.ai), Claude Code, and Cowork features for users. The main failure, lasting nearly three hours, displayed a "529 Overloaded" error, indicating a systemic overload rather than simple throttling. This was the 13th day in August with recorded incidents for Claude. Following the initial repair, the login system failed again twice in the early hours of August 25th. Despite official status pages showing recovery, many users reported persistent issues like white screens on key pages. A monitoring service noted Claude has accumulated 184 incidents since January 2026. The outages disrupted workflows significantly, with one user reporting a nine-hour automated process being lost. Beyond reliability, users and developers express concerns about a perceived decline in Claude's performance ("ran out of compute"), citing slower task completion and reduced reasoning depth in models like Opus 5 compared to earlier versions or competitors. AMD's AI director shared data showing a 75% drop in Claude Code's "thinking" character count from January to March, coinciding with the feature hiding its reasoning process from users entirely. While Anthropic claims 90-day availability rates above 99.3% for its services, this falls short of the 99.9% enterprise standard. More critically, for users running long AI agent tasks, an interruption means losing all prior processing time and context, a cost not reflected in simple uptime metrics. The root cause of the August 24th outage remains undisclosed by Anthropic.

marsbit08/26 04:21

Claude Crashes Three Times a Day, API, App, Cowork All Down, Workers Left in the Dark

marsbit08/26 04:21

OCEAN Pledges to Refund BTC After Configuration Error Leads to Chain Split

The Bitcoin mining pool OCEAN has pledged to compensate miners after a configuration issue caused some operators, who had selected the "non-BIP-110" option, to unknowingly mine on the BIP-110 chain following a chain split. This led to community criticism that the pool's default settings were directing unallocated hash power to the minority chain. OCEAN confirmed the misdirection lasted roughly 18 hours and stated it will distribute approximately 0.3 BTC in direct reimbursements to affected miners based on the rewards they would have earned on the non-BIP-110 chain. Payments are to be made within 72 hours. The pool has now reverted its default endpoint back to the non-BIP-110 chain, though both mining options remain available for operator choice. The incident occurred amid broader debates on how pools handle default settings during contentious network splits, such as the one on August 8th that divided Bitcoin into BIP-110 and original chains.

cryptonews.ru08/10 19:51

OCEAN Pledges to Refund BTC After Configuration Error Leads to Chain Split

cryptonews.ru08/10 19:51

Mathematicians Refute Open AI's Claim of Proving Connes Rigidity Conjecture Within 24 Hours: 'AI Proved Every Sentence Correct, but They Are No Longer About the Original Conjecture'

Mathematician Refutes OpenAI's Claim of Disproving Connes Rigidity Conjecture in 24 Hours OpenAI claimed its next-generation AI model solved 10 world-class problems, including disproving the Connes Rigidity Conjecture. The next day, mathematician J. L. Nielsen from the University of Kansas published a paper refuting the AI's counterexample. Nielsen meticulously reviewed OpenAI's publicly released 37,000 lines of Lean 4 code, mapping each object back to its mathematical origin. He identified two independent failure paths in the AI's argument. He concluded that one of the two groups constructed by the AI does not satisfy the required conditions (specifically ICC and Kazhdan's property (T)) necessary to serve as a valid counterexample to the original conjecture. This means the AI may have successfully proven something about its constructed objects, but that statement is not equivalent to disproving the Connes Rigidity Conjecture itself. The incident highlights a crucial limitation of formal verification tools like Lean. While Lean's kernel can verify the logical correctness of a proof's steps, it cannot verify whether the formal statement being proven correctly corresponds to the intended mathematical conjecture. Human oversight remains essential to ensure the alignment between the formalized problem and the original research question. This case exemplifies what researchers call "successfully proving the wrong statement." The Connes Rigidity Conjecture, concerning the uniqueness of group von Neumann algebras under certain conditions, remains an open problem.

marsbit08/04 08:46

Mathematicians Refute Open AI's Claim of Proving Connes Rigidity Conjecture Within 24 Hours: 'AI Proved Every Sentence Correct, but They Are No Longer About the Original Conjecture'

marsbit08/04 08:46

An AI Uncovers a 15-Year-Old Linux Vulnerability in 5 Seconds, While Another AI Turns an Innocent Journalist into a Car Thief Suspect

AI Discovered a 15-Year-Old Linux Bug but Also Wrongly Targeted a Journalist An AI security tool, VEGA, identified "GhostLock" (CVE-2026-43499), a severe Linux kernel vulnerability hidden for 15 years since 2011, affecting nearly all distributions. Exploiting a flaw in the kernel's lock management, an attacker could gain root privileges in about 5 seconds from a standard user account. This demonstrates AI's growing ability to find complex bugs humans missed. In a stark contrast, another AI system caused a dangerous police confrontation. Automotive journalist Joel Feder was surrounded by four police cars after Flock Safety's automated license plate recognition (ALPR) cameras mistakenly flagged his vehicle. The error originated from a typo in a national stolen vehicle database ("34 03 DTM" was entered as "34 DTM"). Feder's manufacturer plate, "34 10 DTM," was misread due to its small font, triggering a nationwide alert. Police, with hands on holsters, detained Feder for an hour before resolving the mistake. The two cases highlight the dual nature of AI in security. On one hand, it can efficiently uncover critical software vulnerabilities, enhancing safety. On the other, it can exponentially amplify human errors—like a simple data entry mistake—when deployed in automated, large-scale surveillance systems without adequate human oversight. The incident underscores the critical need for robust review mechanisms in AI-driven decision systems, especially in high-stakes areas like law enforcement. The greatest vulnerability in the AI era may not be in code, but in the unchecked delegation of final judgment to automated processes.

marsbit07/13 12:25

An AI Uncovers a 15-Year-Old Linux Vulnerability in 5 Seconds, While Another AI Turns an Innocent Journalist into a Car Thief Suspect

marsbit07/13 12:25

Planck Retracted? The Father of Quantum Tripped by an Algorithm

The recent discovery that two articles (published in 1940 and 1942) by Max Planck, the Nobel laureate and founder of quantum theory, are marked as "retracted" on Springer's digital platform highlights a curious clash between historical publishing practices and modern automated systems. An investigation suggests these retractions are algorithmic errors, not due to fraud or misconduct. The papers, philosophical reflections on science published in *Die Naturwissenschaften*, were likely flagged by the platform's systems. One article, a republished lecture, may have been mistaken for duplicate publication. Another, sharing a title with a prior article by a different author (a common practice for continuing debates at the time), may have triggered a similar automated check. The digital versions have even been replaced with blank pages, contrary to normal practice of preserving retracted texts. This incident underscores how contemporary digital infrastructure, built around concepts like "self-plagiarism" and strict copyright, can misclassify and obscure legitimate historical scholarly communication. It serves as a warning that digital archives are not neutral mirrors of the past but are filtered by platform rules, potentially distorting the scientific record. As AI systems increasingly rely on such databases, such erroneous metadata could propagate, affecting how future tools interpret and access historical knowledge.

marsbit06/30 12:44

Planck Retracted? The Father of Quantum Tripped by an Algorithm

marsbit06/30 12:44

Galaxy Weighs Theories After $8.3M Bitcoin Burn Mystery

Galaxy Research is investigating a mysterious Bitcoin transaction where approximately 107 BTC (worth $8.3 million) was deliberately sent to a provably unspendable "burn" address. The primary question is the motive behind destroying such a large sum. Galaxy proposed several theories, including a tax-loss strategy (though deemed unlikely for old coins), a religious or ideological act, an attempt to dispose of illicit funds, or coercion. The firm suggested a plausible explanation could be an automated error, where a trading system mistakenly sent funds to a known burn address labeled "Counterparty" instead of the intended recipient. Galaxy acknowledged all theories are speculative, and the true reason may never be known.

bitcoinist05/28 13:02

Galaxy Weighs Theories After $8.3M Bitcoin Burn Mystery

bitcoinist05/28 13:02

South Korea Urges Crypto Circuit Breakers After $42B Bithumb Mishap

South Korea's central bank has recommended implementing cryptocurrency exchange "circuit breakers" following a major incident on Bithumb. In February, the exchange erroneously distributed 620,000 Bitcoin (worth approximately $42 billion) to customers instead of the intended 620,000 Korean won (about $400). This triggered panic selling, causing Bitcoin's price on the platform to plummet. Although Bithumb quickly halted trading and reversed the transactions, nearly $125 million in Bitcoin had already been sold. The Bank of Korea's report emphasizes that the crypto sector lacks the stringent internal controls of traditional finance and calls for mandatory systems to detect and prevent such human errors and discrepancies in asset records. This proposal is part of broader legislative moves in South Korea to enhance the security and transparency of virtual asset exchanges.

TheNewsCrypto04/13 21:40

South Korea Urges Crypto Circuit Breakers After $42B Bithumb Mishap

TheNewsCrypto04/13 21:40

Bithumb Seeks Legal Action To Recover Unreturned Bitcoin From $40B Payout Error

Crypto exchange Bithumb is pursuing legal action to freeze and recover approximately 7 Bitcoin (worth nearly $500,000) that were not returned after a major payout error in February. The incident occurred when Bithumb accidentally distributed 620,000 Bitcoin (valued at over $40 billion) to 249 users due to a "fat-finger" mistake. Although the exchange recovered 99.7% of the funds, a small portion was sold or converted by users. Under South Korean law, such mistaken payments are considered unjust enrichment and must be returned. The error also prompted regulatory scrutiny, leading to stricter asset-matching requirements for domestic crypto exchanges and a preliminary six-month business suspension notice for Bithumb over AML and KYC violations.

bitcoinist04/10 07:02

Bithumb Seeks Legal Action To Recover Unreturned Bitcoin From $40B Payout Error