{"id":72579,"date":"2023-01-16T14:51:12","date_gmt":"2023-01-16T12:51:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72579"},"modified":"2025-09-09T01:32:39","modified_gmt":"2025-09-08T22:32:39","slug":"court-orders-bithumb-to-compensate-customers-for-platform-outages","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/court-orders-bithumb-to-compensate-customers-for-platform-outages\/","title":{"rendered":"Court orders Bithumb to compensate customers for platform outages"},"content":{"rendered":"<p>The Supreme Court of Korea ordered Bithump to pay a total of 251.4 million <span data-descr=\"Korean won\" class=\"old_tooltip\">KWN<\/span> ($202,400) on behalf of 132 investors as compensation for damages due to the platform&#8217;s temporary suspension, Yonhap reports.<\/p>\n<p>The incident occurred on November 12, 2017. The services were down for about an hour and a half.<\/p>\n<p>Initially the district court rejected the claim, forcing the investors to appeal. The Supreme Court delivered the opposite verdict.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe burden of technical glitches must be borne by the service operator, not by its users who pay for the service,\u201d<\/em> the ruling states.<\/p>\n<\/blockquote>\n<p>In early 2023, the National Tax Service of South Korea (NTS) began<a href=\"https:\/\/u1f987.com\/en\/news\/south-koreas-tax-authority-opens-investigation-into-bithumb\">a special investigation<\/a> into the operators of the cryptocurrency exchange Bithumb.<\/p>\n<p>Following the prior investigation, at the end of 2019 the NTS demanded Bithumb Korea pay more than 80 billion won (~$69 million) in profits taxes earned from investments by foreign users of the platform.<\/p>\n<p>In September 2020, the police <a href=\"https:\/\/u1f987.com\/en\/news\/police-seize-part-of-bithumb-holdings-shares-during-third-raid-in-a-month\">carried out a series of searches<\/a> at offices of companies linked to the exchange as part of a case into alleged fraud related to the $25 million token sale of BXA. At that time, the authorities <a href=\"https:\/\/u1f987.com\/en\/news\/police-seize-part-of-bithumb-holdings-shares-during-third-raid-in-a-month\">summoned for questioning<\/a> the CEO and chairman of the platform, Lee Jong-hoon.<\/p>\n<p>In October 2022, it was reported that, on charges of deceiving investors, he could <a href=\"https:\/\/u1f987.com\/en\/news\/former-bithumb-chief-faces-potential-prison-term\">face up to eight years in prison<\/a>. According to Yonhap, Hoon is considered the real owner of the exchange, and the NTS&#8217;s special investigation is presumably linked to his <a href=\"https:\/\/u1f987.com\/en\/news\/case-of-former-bithumb-chief-referred-to-south-korean-prosecutors\">criminal case<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Supreme Court of Korea ordered Bithumb to pay a total of 251.4 million KWN ($202,400) on behalf of 132 investors as compensation for damages due to the platform&#8217;s temporary downtime, Yonhap reports. The incident occurred on November 12, 2017. The services were down for about an hour and a half. Initially the district court rejected the claim, forcing the investors to appeal. The Supreme Court delivered the opposite verdict.<\/p>\n","protected":false},"author":1,"featured_media":72580,"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":[973,1162],"class_list":["post-72579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bithumb","tag-court-cases"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72579","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=72579"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72579\/revisions"}],"predecessor-version":[{"id":72581,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72579\/revisions\/72581"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72580"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}