The Crypto Exchange Coinone Wins Court Battle Over Doubled Bitcoin Withdrawal in the 2018 Network Chaos
Coinone won an appeal to force five among customers to return Bitcoin
They were able to double the removal from the South Korean crypto exchange in a glitch in 2018.
According to local media, the second division of the Seoul Western District court said the entrepreneurs have benefited from “unfair enrichment” because the exchange has completed the first on-chain removal before the server restores their balances.
The mix-up began when the coinone software flagged a slow confirmation from the Bitcoin network as failed transactions, and automatically led users’ accounts even if the withdraws were properly processed. Traders then retreated both coins again.
The Bitcoin network has experienced significant congestion back at that time as the transaction volumes are skyrock, at the end of a year’s scaling debate that led to Bitcoin Cash
Hard fork one year earlier.
At this time, the average transaction fee in the Bitcoin network reached a record of $ 55, while the memory pool, a type of “waiting room for transactions,” has grown to 250,000 non -confirmed transactions.
A lower court initially blames its own coinone servers and orders the payment of only slight injuries. In the appeal, the judges called the network delay an event outside, the platform said that the loss should not be shoulder to shoulder and told users to pay the funds.
Coinone has faced controversy in the past. In a separate trial in 2023, dating Employees admitted receiving number Most 2 billion wins (around $ 1.46 million) to list tokens.
