South Korean Court to Issue First Ruling in Bithumb BTC Misallocation Case on August 27

BTC-0.40%
According to Digital Asset, a South Korean court will issue its first ruling on August 27 in Bithumb's Bitcoin misallocation case involving four users. The users allegedly sold the mistakenly received BTC and are holding approximately 194 million Korean won in proceeds. Bithumb filed unjust enrichment recovery lawsuits with a maximum claimed amount of around 500 million won. In February, the exchange mistakenly recorded won rewards as Bitcoin during a promotional distribution. Bithumb reported recovering 99% of the 1,788 misallocated BTC by March 10.
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