2021-02-14 16:04:20
The court ordered Bithumb to pay compensation to customers for lost bitcoins at the rate of 2018
The South Korean cryptocurrency exchange Bithumb must settle accounts with its clients who lost bitcoins due to a bug in the process of withdrawing them from the trading platform in 2018, the court ruled. Payments must be made in fiat currency at one of the lowest rates in recent trading years.
According to FnNews, six Bithumb clients have filed a lawsuit against the exchange, accusing it of providing incorrect data, which caused their bitcoins to go to an unknown address. They planned to withdraw the cryptocurrency from Bithumb to another exchange and used an address book, which allows them to quickly transfer assets without having to re-enter the address. However, the bitcoins sent in this way did not go to the intended destination address, but to an unknown wallet, the owner of which has not yet been established.
The Bithumb support team said that the company is aware of the error, and that the customers are not guilty of what happened. At the same time, the exchange refused to publicly admit its guilt, citing a warning about disclaimer of responsibility for any problems arising from the use of the address book, and recommending users to additionally check the data.
The affected customers expected to recover almost $ 1 million from Bithumb.The court found Bithumb guilty and ordered to pay compensation at the rate at the time of the incident that occurred during the market decline in winter 2018-2019, when Bitcoin was trading for about $ 4,660.
"It is difficult to agree that the plaintiffs at that time could have known about the future increase in the price of bitcoin or that they would be guaranteed to profit from this," the court explained its decision. The plaintiffs did not agree with this outcome and have already announced their intention to appeal against it.
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