US Edition18 Articles
18 Articles
Bithumb Seeks Seizure Of 7 Bitcoin From $40B Payout Error
Crypto exchange Bithumb is pursuing legal action to freeze nearly $500,000 in Bitcoin (BTC) unrecovered from the $40 billion payout error in February, signaling that the platform will turn to the courts to reclaim the assets. Bithumb Launches Legal Action On Thursday, local news media outlet Chosun Biz reported that the South Korean crypto exchange Bithumb had begun legal proceedings to recover part of the Bitcoin that had not been returned afte…
CryptoPotato
Bitcoin Ethereum NewsCostly Bitcoin Glitch Escalates as Bithumb Targets Holdout Users in Court: Report
South Korean cryptocurrency exchange Bithumb has moved to secure court approval to freeze 7 BTC that remain unreturned following a payout error earlier this year. The dispute escalated after a small number of users declined to hand back the funds. Legal Route According to the latest report by a local media, ‘Chosun Biz,’ Bithumb has initiated a provisional seizure, which is a legal step that allows assets to be temporarily locked before a formal…
Bithumb’s $43B “Fat-Finger” Mistake Moves Forward In Court As Exchange Seeks BTC Returned By Users
South Korean crypto exchange Bithumb has now moved to sue the user responsible for one of cryptocurrency’s greatest operating blunders after a “fat-finger” error bestowed users with Bitcoin vastly higher than the platform’s entire inventory. What started as a standard, run of the mill promotional operation quickly spiraled into absolute madness when one staff member mistakenly inputted “BTC” instead of “KRW”, which resulted in a massive and unav…
[Digital Daily Reporter Jo Yoon-jung] Virtual asset exchange Bithumb has initiated legal action against customers who ultimately failed to return some of the Bitcoin (BTC) mistakenly distributed during an event last February. It has been confirmed that Bithumb has effectively entered civil litigation proceedings for forced recovery by recently filing for provisional attachment with the court. On the 9th, Bithumb applied for provisional attachme…
Key points of the news: Bithumb applied to a South Korean court for the freezing of 7 bitcoins that some users refused to return after a payment error. On February 6, an employee entered "BTC" instead of "KRW" in a promotion, proving by mistake 620,000 bitcoin to 249 winners. Bithumb recovered most of the funds, but there are still approximately bitcoins left unrestituted. South Korean exchange Bithumb escalated its legal battle with a group of …
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