Bithumb Wins Two Lawsuits Over Mistaken Bitcoin Credits: Report

Bithumb reportedly prevailed in first-instance rulings in two lawsuits seeking repayment from users who sold Bitcoin credited during its $40 billion error.

South Korean cryptocurrency exchange Bithumb has reportedly secured first-instance rulings in two lawsuits against users to recover proceeds from Bitcoin that was mistakenly credited to their accounts.

The Seoul Central District Court ruled in Bithumb’s favor on Wednesday and Thursday in two of four lawsuits involving users who sold Bitcoin that had been mistakenly credited to their accounts, according to a Chosun Biz report.

Thursday’s ruling involved a claim worth 194 million won ($140,000), while Wednesday’s case covered 5 million won ($3,600). Two other lawsuits, seeking about 14.8 million won ($10,700) and 500 million won ($362,000), are still pending.

The report said both cases proceeded through public-notice service because the court could not deliver documents to the defendants through standard methods.

The reported rulings mark progress in Bithumb’s efforts to recover funds following its February error, when the exchange mistakenly credited 620,000 BTC worth more than $40 billion at the time.

Bithumb Pursues Proceeds From Bitcoin Sales#

Bithumb said the error happened during a promotional event on Feb. 6, 2026, when it planned to distribute 620,000 won, worth about $420 at the time, as rewards to 249 users. An employee accidentally selected Bitcoin rather than Korean won as the payment unit, resulting in 620,000 BTC being credited to customer accounts.

The exchange later reported that it had recovered 618,212 BTC, representing 99.7% of the amount mistakenly credited. However, some users had already sold 1,788 BTC from the credited balances before Bithumb froze the affected accounts.

Bithumb filed four unjust enrichment lawsuits in March against users who sold the mistakenly credited Bitcoin but did not return the proceeds. The company reportedly sought cash from those sales instead of recovering Bitcoin.

FSS Starts Sanctions Process Over Bithumb Error#

South Korea’s Financial Supervisory Service (FSS) investigated Bithumb over the Feb. 6 Bitcoin error, focusing on how the exchange could credit customers with Bitcoin it did not hold. The regulator reportedly sent Bithumb an inspection opinion in early August, formally starting sanctions proceedings, although no final penalty has been announced.

South Korea’s Financial Services Commission (FSC), which oversees the FSS, seeking an update on the investigation and possible sanctions against Bithumb, but received no response before publication.

Bithumb has faced additional legal scrutiny this year. South Korean police raided its offices in June as part of a separate investigation into alleged hiring favoritism involving lawmaker Kim Byung-ki, while the company is contesting a six-month partial business suspension over Anti-Money Laundering violations. A Seoul court stayed the suspension in April while awaiting a ruling on Bithumb’s appeal.