Bithumb Wins Second Lawsuit Over 620,000 BTC Crediting Error

TheNewsCryptoPublished on 2026-08-27Last updated on 2026-08-27

Abstract

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.

Bithumb wins another case as it seeks payments from wrongly credited Bitcoin users. In an effort to collect money for wrongly credited Bitcoin from users in February 2018, the Seoul Central District Court ordered one of the defendants to pay back 194 million Korean won, roughly $140,513, according to Digital Asset. This is the second largest out of four civil suits Bithumb has filed after the February case.

The biggest one is worth 500 million won which is worth $362,229. Bithumb has won two out of four civil lawsuits against users in February. The whole issue arose when Bithumb mistakenly credited more than 620,000 BTC to hundreds of people during a promotion activity. It was because of the mistake by one of its employees who mistook BTC for Korean won.

The Mistake Was Also Affecting Bithumb’s Market

This strange crediting mistake soon started to have an impact on Bithumb’s overall market activity, as the BTC/KRW trading pair fell by 15% due to the incident. The fall did not concern only those users who were involved in the distribution mistake. In addition to this, Bithumb became the subject of an investigation by the South Korean regulators, who were checking the internal procedures that led to such a mistake and were discussing the measures taken to prevent this situation.

The latest victory in court for Bithumb does not end all the lawsuits related to this mistake. The decision is relevant to the defendant in this particular case, but it does not influence the decisions in other lawsuits. The exchange will continue to fight to obtain the rights through other legal processes.

This ruling comes as Bithumb is gearing up for yet another important event in its corporate history. At the start of the month, the exchange announced plans for an IPO in 2028. The upcoming IPO represents another significant event for Bithumb as the exchange deals with the implications of its February Bitcoin mistake. In the meantime, the most recent ruling improves Bithumb’s position in its legal battle.

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Related Questions

QWhat was the nature of the February 2018 incident that led to Bithumb's lawsuits?

AIn February 2018, Bithumb mistakenly credited over 620,000 BTC to hundreds of users during a promotion. The error occurred because an employee confused BTC for Korean won.

QWhat was the result of the second-largest civil lawsuit Bithumb won in this case?

AThe Seoul Central District Court ordered one defendant to pay back 194 million Korean won, which is approximately $140,513.

QWhat impact did the crediting error have on Bithumb's market activity?

AThe BTC/KRW trading pair fell by 15% due to the incident, impacting Bithumb's overall market activity.

QHow has the recent court victory affected Bithumb's other lawsuits related to this incident?

AThe decision only applies to the defendant in that specific case and does not influence the outcomes of the other pending lawsuits. Bithumb will continue its legal efforts through other proceedings.

QWhat major corporate event is Bithumb planning for 2028, as mentioned in the article?

ABithumb has announced plans for an Initial Public Offering (IPO) in 2028.

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