A costly Bitcoin error has taken a more serious turn as Bithumb moves to take legal action against a group of users who have refused to return mistakenly distributed funds. After successfully recovering most of the assets, the company is now focusing on those still holding out.
According to a report from Chosun Biz, Bithumb has begun a provisional seizure process. This legal measure allows authorities to temporarily freeze assets before filing a formal civil lawsuit. The situation stems from an incident in February when the exchange accidentally sent Bitcoin instead of Korean won during a promotional campaign.
The company had planned to distribute a total of 620,000 won to 249 participants, with each person receiving between 2,000 and 50,000 won. Due to a data entry mistake, the payments were processed in Bitcoin instead, resulting in the unintended transfer of nearly 620,000 BTC, an amount worth tens of trillions of won.
Although Bithumb reversed the transactions within minutes, it could not recover all the funds. Some recipients had already sold the Bitcoin or used it to purchase other digital assets. The exchange later contacted users individually and managed to reclaim most of the funds. However, a small number of individuals refused to return the remaining assets, which led to the current legal action.
Sources within the industry noted that some users claim they should not be responsible for returning the funds since the mistake was made by the exchange. Legal experts disagree and describe the situation as unjust enrichment, stating that anyone who received assets by mistake is legally required to return them.
Authorities have also warned that users who converted the Bitcoin into cash may face additional challenges if the case proceeds. At the time of the incident, Bitcoin prices on Bithumb briefly dropped to around 80 million won, while current prices are much higher at approximately 105 million won.
This price difference could create financial pressure for those who sold the Bitcoin earlier, as they may need to buy it again at a higher price in order to comply with any court order requiring repayment.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
