{"id":36288,"date":"2021-02-11T16:04:57","date_gmt":"2021-02-11T14:04:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36288"},"modified":"2025-08-29T05:34:56","modified_gmt":"2025-08-29T02:34:56","slug":"bithumb-to-compensate-customers-for-lost-bitcoins-at-the-2018-rate","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bithumb-to-compensate-customers-for-lost-bitcoins-at-the-2018-rate\/","title":{"rendered":"Bithumb to compensate customers for lost bitcoins at the 2018 rate"},"content":{"rendered":"<p>South Korean cryptocurrency exchange Bithumb must settle with clients who lost bitcoins due to a bug in the withdrawal process in 2018. The court made the decision, <a href=\\\"https:\/\/www.fnnews.com\/news\/202102090904356305\\\" target=\\\"_blank\\\" rel=\\\"noopener\\\">FnNews<\/a> reports.<\/p>\n<p>\\n<\/p>\n<p>Six exchange clients accused Bithumb of providing incorrect withdrawal data. Users sent assets to an unknown wallet, the owner of which has never been identified.<\/p>\n<p>\\n<\/p>\n<p>According to the court&#8217;s ruling, Bithumb must pay compensation in fiat currency at the rate prevailing at the time of the incident. At that time, Bitcoin traded around $4,660. The affected clients sought nearly $1 million and intend to appeal the ruling.<\/p>\n<p>\\n<\/p>\n<blockquote>\n<p>\\&#8221;It is hard to agree that the plaintiffs at the time could have known about the future rise in Bitcoin&#8217;s price, so they would not have been able to guarantee a profit,\\&#8221; the court explained.<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p>Back in 2018, during the hack, hackers stole more than $30 million from the exchange. In its annual report, Bithumb reported losses of $180 million.<\/p>\n<p>\\n<\/p>\n<p>In 2019, the exchange lost 3 million EOS and 20 million XRP as a result of a new attack. Yet for the year Bithumb posted a profit of $30 million.<\/p>\n<p>\\n<\/p>\n<p>In 2020, the police <a href=\"https:\/\/u1f987.com\/en\/news\/police-seize-part-of-bithumb-holdings-shares-during-third-raid-in-a-month\">conducted three searches at the exchange&#8217;s offices<\/a>, after which the authorities <a href=\"https:\/\/u1f987.com\/en\/news\/police-summon-bithumb-chief-over-fraud-charges\">summoned for questioning<\/a> chairman Lee Jong-hoon.<\/p>\n<p>\\n<\/p>\n<p>Sign up for ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog Feed<\/a> \u2014 all the news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korean cryptocurrency exchange Bithumb must settle with clients who lost bitcoins due to a bug in the withdrawal process in 2018. The court made the decision, FnNews reports.<\/p>\n","protected":false},"author":1,"featured_media":36289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[973,1166,974],"class_list":["post-36288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bithumb","tag-centralized-exchanges-cex","tag-south-korea"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36288"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36288\/revisions"}],"predecessor-version":[{"id":36290,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36288\/revisions\/36290"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36289"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}