Crypto exchange Coinone wins legal proceedings for double Bitcoin withdrawals in the network failure of 2018

In an appeal hearing, Coinone successfully enforced that five customers Bitcoin

have to give back that they had withdrawn several times from the South Korean crypto exchange due to an error in 2018.

According to the local media, the second civil chamber of the Seoul Western District Court said that the dealers benefited from “unjust enrichment”, since the stock exchange had already completed the first payout request on-chain before restoring their accounting stands.

The confusion began when the software from coinone incorrectly identified slow confirmations in the Bitcoin network as failed transactions and automatically increased the accounts of the users, although the payments were properly processed. The dealers then removed the same coins again.

At this time, the Bitcoin network experienced significant bottlenecks because the transaction volumes climbed, which marked the climax of years of scaling debate that was …Bitcoin Cash

Hard ForkA year earlier.

At the time, the average transaction fee in the Bitcoin network reached a record of $ 55 at the time, during the memory pool, a kind of “waiting room for transactions”, to 250,000 unconfirmed transactions.

A first -instance court initially blamed the Coinone's own servers and ordered the payment of only a partial damage replacement. In the appeal, the judges described the network delay as an external event, explained that the platform did not have to bear the loss, and indicated the users to repay the funds.

In the past, Coinone was already the focus of controversy. In a separate procedure in 2023, a former …Employees admitted.“”Up to 2 billion(about $ 1.46 million) For the listing of tokens.