Coinone won an appeal to force five of customers to return Bitcoin
They succeeded in doubling the South Korean crypto exchange over an error in 2018.
According to local media, Seoul Western District Court’s second civilian department said the traders benefit from “unfair enrichment” because the exchange had already completed the first withdrawal on the chain before its server restored their balance.
Mix-Up began when Coinone’s software marked slow affirmations from the Bitcoin network as unsuccessful transactions, and automatically topped the users’ accounts even after the withdrawal was processed properly. The traders then pulled the same coins again.
The Bitcoin network experienced significant overloading back around the time when the transaction volumes skyrocketed, in the culmination of a long-standing scaling debate that had led to Bitcoin Cash
Hard fork a year earlier.
At that time, the average transaction fee on the Bitcoin network reached a then record $ 55, while the memory pool, a kind of “waiting room for transactions”, grew to 250,000 uncommoned transactions.
A lower right initially accused Coinone’s own servers and ordered only payment of partial damage. On Appel, the judges called the network delayed an external event, the platform did not have to carry the loss and asked users to repay the funds.
Coinon has been exposed to controversy in the past. In a separate trial of 2023 former employees admitted to as much as 2 billion won (about $ 1.46 million) to list tokens.
