Bithumb seeks to recover 7 Bitcoin after massive distribution mistake
Crypto Briefing
South Korean exchange Bithumb is pursuing legal action to recover seven Bitcoin accidentally distributed to users during a February payout error.Summary
South Korean crypto exchange Bithumb has initiated legal proceedings to recover seven Bitcoin that remain unreturned following a major distribution error on February 6. The incident, caused by an input mistake, resulted in the exchange erroneously sending 620,000 BTC to 695 users instead of a smaller amount of Korean won.
While Bithumb successfully retrieved most of the funds through direct outreach, several users refused to return the assets. Legal experts suggest that recipients are obligated to return the funds under principles of unjust enrichment. To manage the fallout, Bithumb offered affected users 110% compensation and implemented system-wide security upgrades and a customer protection fund.
(Source：Crypto Briefing)