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.

Bithumb Strikes Balance between Legal Battle and IPO Plans

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.

Highlighted Crypto News:
Grayscale’s Zach Pandl Says Rising U.S. Debt Could Boost BTC, ETH and ZEC

Trending Cryptos

CitreaCTR

wrapped stUSDTWSTUSDT

Velodrome FinanceVELODROME

BrevisBREV

PancakeSwapCAKE

Ripple Prime expands into US equity derivatives with Delta One business

Ripple Prime, Ripple's multi-asset prime brokerage unit, has launched a Delta One service, marking its expansion into US equity derivatives. This new offering enables institutional clients, such as hedge funds and asset managers, to execute total return swaps linked to US-listed equities, indexes, and digital assets without owning the underlying assets. The service provides a single counterparty and allows for cross-margining across supported asset classes. Ripple Prime President Noel Kimmel described the launch as a key development and natural extension of their platform. The business, formed after Ripple's acquisition of Hidden Road in 2025, already offers prime brokerage, clearing, and financing for FX, derivatives, fixed income, and digital assets, backed by over $1 billion in regulatory net capital. Recent funding, including a $275 million private placement and a $200 million debt facility, supports its growth and expanded lending capacity.

cointelegraph5m ago

Ripple Prime expands into US equity derivatives with Delta One business

cointelegraph5m ago

Bitcoin Holds Above $79,000: ETF Inflows Mark Longest Streak Since April

Bitcoin remains above $79,000, with sustained inflows into spot Bitcoin ETFs driving the market. Data shows a record eight consecutive days of net inflows—the longest streak since April—totaling $2.8 billion, alongside a weekly gain of roughly 23% for BTC. Institutional demand remains strong, while many altcoins show weaker momentum. The rally was initially fueled by the US Treasury's announcement to double long-term bond buybacks, which triggered over $3 billion in short liquidations and broke Bitcoin out of a six-week trading range. Market derivatives data indicates stable growth without overheating. Bitcoin futures open interest held steady near 700,000 BTC, reducing cascade liquidation risks. Positive funding rates and balanced long/short ratios suggest continued buyer interest. Options activity shows institutional demand for downside protection alongside retail trader bets on further upside. Among altcoins, Bittensor (TAO) and Ethena (ENA) posted notable gains, while Zcash (ZEC) declined. Overall, the focus has shifted back to Bitcoin's ETF-driven momentum and spot demand, with a more cautious stance emerging in altcoin and derivatives markets.

cryptonews.ru20m ago

Bitcoin Holds Above $79,000: ETF Inflows Mark Longest Streak Since April

cryptonews.ru20m ago

Justin Sun compares TRON and Bitcoin: "We're moving faster in this area!"

The rapid advancement of quantum computing has reignited concerns about its threat to cryptocurrency security, particularly Bitcoin, prompting developers of altcoins like Tron to work on quantum-resistant technologies. Tron founder Justin Sun, speaking at the Bitcoin Asia 2026 conference in Hong Kong, announced plans to make the TRON network quantum-resistant by the end of the year. He stated that TRON has been developing this technology for about a year, with a quantum-attack-resistant addressing system already implemented in the testnet in the first half of 2026. Sun contrasted this with Bitcoin, suggesting its path to quantum resistance might be slower due to its highly decentralized ecosystem involving miners, exchanges, WBTC, and other stakeholders, which makes reaching consensus on a unified solution more complex.

cryptonews.ru35m ago

Justin Sun compares TRON and Bitcoin: "We're moving faster in this area!"

cryptonews.ru35m ago

Nimiq Launches Second Mini Apps Competition for Developers and AI Builders

Nimiq, an open-source blockchain project for digital payments, has launched the second cycle of its Mini Apps Competition. This four-week event, running from August 24 to September 18, invites developers, AI builders, and indie hackers to create open-source applications for the Nimiq Pay platform using its Mini Apps Framework. The cycle offers $17,000 in prizes as part of a larger three-cycle contest with over $50,000 total. The framework allows developers to build and host lightweight web apps accessible through Nimiq Pay, which provides the built-in wallet and payment functions. Developers retain full control over their applications, infrastructure, and intellectual property, with no fees, commissions, or revenue sharing required. This model aims to simplify development by eliminating the need for separate payment systems and the complexities of traditional app store launches. The competition aims to expand Nimiq Pay into an open platform, enabling developers to directly distribute Mini Apps—such as games, productivity tools, or social experiences—to the Nimiq community. The first cycle received 62 submissions.

TheNewsCrypto50m ago

Nimiq Launches Second Mini Apps Competition for Developers and AI Builders

TheNewsCrypto50m ago

Unstoppable Domains Abandons Plans to Integrate .crypto and .bitcoin into DNS

Unstoppable Domains has abandoned its plans to integrate nine of its Web3 domain extensions, including .crypto and .bitcoin, into the traditional DNS system. The company cited ICANN requirements and the high costs of the application program as reasons for the decision. Other affected domains are .wallet, .polygon, .nft, .dao, .unstoppable, .zil, and .blockchain. They will continue to function as on-chain domains but will not become native DNS zones. The applications for the nine domains would have cost over $2 million, not including additional compliance expenses and potential auctions. Founder Matthew Gould stated the total costs outweighed expected revenues. A major obstacle was ICANN's proposed integration rules, which would require registering every existing on-chain domain in a unified zone and disclosing owner data—affecting over 4 million domains, many purchased as one-time, anonymous assets. In response to user criticism, the company is offering refunds for domains purchased after its public ICANN announcement dates, with the refund window open from August 25 to September 25. Unstoppable Domains clarified that the domains retain all their on-chain functionalities. The company is still proceeding with ICANN applications for five other domain extensions: .agi, .robot, .gram, .hub, and .xmr, developed with partners like 0G, Telegram, Monero, and Hub Culture. The first approved domains from the current ICANN round are expected by mid-2027, with a full DNS launch anticipated in late 2027 or 2028.

cryptonews.ru1h ago

Unstoppable Domains Abandons Plans to Integrate .crypto and .bitcoin into DNS

cryptonews.ru1h ago

Trading

Spot

Hot Articles

What is $BITCOIN

DIGITAL GOLD ($BITCOIN): A Comprehensive Analysis Introduction to DIGITAL GOLD ($BITCOIN) DIGITAL GOLD ($BITCOIN) is a blockchain-based project operating on the Solana network, which aims to combine the characteristics of traditional precious metals with the innovation of decentralized technologies. While it shares a name with Bitcoin, often referred to as “digital gold” due to its perception as a store of value, DIGITAL GOLD is a separate token designed to create a unique ecosystem within the Web3 landscape. Its goal is to position itself as a viable alternative digital asset, although specifics regarding its applications and functionalities are still developing. What is DIGITAL GOLD ($BITCOIN)? DIGITAL GOLD ($BITCOIN) is a cryptocurrency token explicitly designed for use on the Solana blockchain. In contrast to Bitcoin, which provides a widely recognized value storage role, this token appears to focus on broader applications and characteristics. Notable aspects include: Blockchain Infrastructure: The token is built on the Solana blockchain, known for its capacity to handle high-speed and low-cost transactions. Supply Dynamics: DIGITAL GOLD has a maximum supply capped at 100 quadrillion tokens (100P $BITCOIN), although details regarding its circulating supply are currently undisclosed. Utility: While precise functionalities are not explicitly outlined, there are indications that the token could be utilized for various applications, potentially involving decentralized applications (dApps) or asset tokenization strategies. Who is the Creator of DIGITAL GOLD ($BITCOIN)? At present, the identity of the creators and development team behind DIGITAL GOLD ($BITCOIN) remains unknown. This situation is typical among many innovative projects within the blockchain space, particularly those aligning with decentralized finance and meme coin phenomena. While such anonymity may foster a community-driven culture, it intensifies concerns about governance and accountability. Who are the Investors of DIGITAL GOLD ($BITCOIN)? The available information indicates that DIGITAL GOLD ($BITCOIN) does not have any known institutional backers or prominent venture capital investments. The project seems to operate on a peer-to-peer model focused on community support and adoption rather than traditional funding routes. Its activity and liquidity are primarily situated on decentralized exchanges (DEXs), such as PumpSwap, rather than established centralized trading platforms, further highlighting its grassroots approach. How DIGITAL GOLD ($BITCOIN) Works The operational mechanics of DIGITAL GOLD ($BITCOIN) can be elaborated on based on its blockchain design and network attributes: Consensus Mechanism: By leveraging Solana’s unique proof-of-history (PoH) combined with a proof-of-stake (PoS) model, the project ensures efficient transaction validation contributing to the network's high performance. Tokenomics: While specific deflationary mechanisms have not been extensively detailed, the vast maximum token supply implies that it may cater to microtransactions or niche use cases that are still to be defined. Interoperability: There exists the potential for integration with Solana’s broader ecosystem, including various decentralized finance (DeFi) platforms. However, the details regarding specific integrations remain unspecified. Timeline of Key Events Here is a timeline that highlights significant milestones concerning DIGITAL GOLD ($BITCOIN): 2023: The initial deployment of the token occurs on the Solana blockchain, marked by its contract address. 2024: DIGITAL GOLD gains visibility as it becomes available for trading on decentralized exchanges like PumpSwap, allowing users to trade it against SOL. 2025: The project witnesses sporadic trading activity and potential interest in community-led engagements, although no noteworthy partnerships or technical advancements have been documented as of yet. Critical Analysis Strengths Scalability: The underlying Solana infrastructure supports high transaction volumes, which could enhance the utility of $BITCOIN in various transaction scenarios. Accessibility: The potential low trading price per token could attract retail investors, facilitating wider participation due to fractional ownership opportunities. Risks Lack of Transparency: The absence of publicly known backers, developers, or an audit process may yield skepticism regarding the project's sustainability and trustworthiness. Market Volatility: The trading activity is heavily reliant on speculative behavior, which can result in significant price volatility and uncertainty for investors. Conclusion DIGITAL GOLD ($BITCOIN) emerges as an intriguing yet ambiguous project within the rapidly evolving Solana ecosystem. While it attempts to leverage the “digital gold” narrative, its departure from Bitcoin's established role as a store of value underscores the need for a clearer differentiation of its intended utility and governance structure. Future acceptance and adoption will likely depend on addressing the current opacity and defining its operational and economic strategies more explicitly. Note: This report encompasses synthesised information available as of October 2023, and developments may have transpired beyond the research period.

2.3k Total ViewsPublished 2025.05.13Updated 2025.05.13

Meet ZetaChain: The Universal L1 for Apps That Work Everywhere — Even on Bitcoin

ZetaChain is the first ever Universal Blockchain to enable native connection across all blockchain ecosystems.

49.4k Total ViewsPublished 2025.06.16Updated 2025.06.16

Meet ZetaChain: The Universal L1 for Apps That Work Everywhere — Even on Bitcoin

Fractal Bitcoin: Scaling Bitcoin as a Recursive System

Fractal Bitcoin is a Layer-1 scalability solution built on the Bitcoin core code, enabling infinite scalability through a recursive approach.

49.0k Total ViewsPublished 2025.06.30Updated 2025.06.30

Fractal Bitcoin: Scaling Bitcoin as a Recursive System

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of BTC (BTC) are presented below.