Cointime

Cointime

Download App
iOS & Android
Home / Point

South Korean Court Orders Users to Return Improper Gains from Bithumb Bitcoin Misissue

On August 27, the Seoul Central District Court issued its first-instance ruling regarding the Bitcoin misissue incident at Bithumb, South Korea's second-largest cryptocurrency exchange. The court ordered the relevant users to return approximately 194 million Korean won from the sale of Bitcoin they received improperly. Bithumb had previously made an operational error during a promotional activity, mistakenly inputting rewards intended to be valued in Korean won as BTC, resulting in the misissue of about 620,000 BTC. In March, the exchange filed lawsuits against four users who sold the misissued BTC and did not return the proceeds, with other cases involving amounts of approximately 500 million, 14.8 million, and 5 million Korean won. The South Korean Financial Services Commission previously stated that the incident involved BTC with a book value of approximately 61 trillion Korean won.

Comments

All Comments

Recommended for you

  • China and the U.S. Maintain Communication on Presidential Interaction This Year

    On August 27, today, Foreign Ministry spokesperson Lin Jian hosted a regular press conference. A reporter asked about the high-level interactions between China and the U.S. In response, Lin Jian stated that both sides are maintaining communication regarding the arrangements for presidential interaction this year. (CCTV News)

  • China and the U.S. Maintain Communication on Presidential Interaction This Year

    On August 27, today, Foreign Ministry spokesperson Lin Jian hosted a regular press conference. A reporter asked about the high-level interactions between China and the U.S. In response, Lin Jian stated that both sides are maintaining communication regarding the arrangements for presidential interaction this year. (CCTV News)

  • Ministry of Commerce Responds to U.S. Consideration of Additional 7.5% Tariff on China

    On August 27, the Ministry of Commerce held a regular press conference. Spokesperson Huang Ling responded to questions regarding the U.S. government's consideration of imposing an additional 7.5% tariff on goods imported from China. She stated that the U.S. initiated a Section 301 investigation against 16 economies, including China, citing 'overcapacity' as a reason. This politicization of economic and trade issues is a typical act of unilateralism and protectionism, which China firmly opposes. We will continue to closely monitor and comprehensively assess the subsequent actions of the U.S. and reserve the right to take all necessary measures. (Xinhua News Agency)

  • Korean Stocks Rise 1.53%

    On August 27, the Korea Composite Stock Price Index closed up 104.16 points, an increase of 1.53%, ending at 6912.37 points. Among individual stocks, Samsung Electronics rose by 1.72%, while SK Hynix increased by 2.49%.

  • Korean Stocks Rise 1.53%

    On August 27, the Korea Composite Stock Price Index closed up 104.16 points, an increase of 1.53%, ending at 6912.37 points. Among individual stocks, Samsung Electronics rose by 1.72%, and SK Hynix increased by 2.49%.

  • Analyst: Market May Slightly Raise Fed Rate Hike Expectations Ahead of September Meeting

    On August 27, Reto Cueni, Chief Economist at Stifel Group, stated in a report that the market may slightly increase expectations for a Federal Reserve rate hike at the September meeting. However, he noted that the majority of the market still likely expects the Fed not to raise rates, and Stifel Group itself currently does not anticipate a rate hike. Cueni said, "At present, we continue to maintain the view that the Fed will not raise rates further in the second half of this year." According to LSEG data, the money market currently assigns a 65% probability that the Fed will keep rates unchanged at the September meeting.

  • Analyst: Market Rate Hike Expectations May Slightly Increase Before September Fed Meeting

    On August 27, news emerged that Reto Cueni, Chief Economist at Stifel Group, stated in a report that the market may slightly raise its expectations for a rate hike at the Federal Reserve's September meeting. However, he pointed out that the market still largely anticipates that the Fed will not raise rates, and Stifel Group itself does not currently believe a hike will occur. Cueni remarked, 'At this time, we maintain our judgment that the Fed will not raise rates further in the second half of this year.' According to LSEG data, the money market currently estimates a 65% probability that the Fed will keep interest rates unchanged at the September meeting.

  • Kuwait and Qatar Increase Oil Exports via Strait of Hormuz, Reaching 70% of Pre-Conflict Levels

    On August 27, the two smaller oil-producing countries in the Persian Gulf, Kuwait and Qatar, are increasing their crude oil shipments through the Strait of Hormuz, further boosting the oil transport volume in this waterway. Traders revealed that before the outbreak of the Iran war, the two countries combined exported about 2 million barrels of oil per day, and the current export volume has recovered to 70% of pre-conflict levels. The UAE was the first Gulf oil producer to resume large-scale oil exports through the Strait of Hormuz, using a method known as 'shuttle transportation' for ship-to-ship transfers in the Gulf of Oman. Subsequently, Saudi Arabia also joined in. Traders indicated that approximately 7 to 8 million barrels of oil are currently being exported daily through the Strait of Hormuz, up from about 4 million barrels in mid-July, which is roughly three-quarters of pre-war levels. Vortexa reported on Monday that the oil flow through this waterway is nearing 10 million barrels per day.

  • Kuwait and Qatar Increase Oil Exports via Strait of Hormuz, Volume Reaches 70% of Pre-Conflict Levels

    On August 27, the two smaller oil-producing countries in the Persian Gulf, Kuwait and Qatar, are increasing their crude oil shipments through the Strait of Hormuz, further boosting the oil transport volume in this waterway. Traders revealed that before the outbreak of the Iran war, the two countries combined exported about 2 million barrels of oil per day, and the current export volume has recovered to 70% of pre-conflict levels. The UAE was the first Gulf oil producer to resume large-scale oil exports through the Strait of Hormuz, using a method known as 'shuttle transport' for ship-to-ship transfers in the Gulf of Oman. Subsequently, Saudi Arabia also joined in. Traders indicate that approximately 7 to 8 million barrels of oil are currently being exported through the Strait of Hormuz daily, up from about 4 million barrels in mid-July, which is roughly three-quarters of pre-war levels. Vortexa reported on Monday that the oil flow through this waterway is approaching 10 million barrels per day.

  • Wall Street Journal: Vietnam Now Has the Largest Trade Surplus with the U.S.

    On August 27, according to the Wall Street Journal, the biggest beneficiary of the global trade rearrangement favoring the U.S. over the past year has surprisingly been Vietnam. Data from the first half of this year shows that Vietnam's trade surplus with the U.S. reached $114 billion, surpassing that of Mexico. This is an unexpected outcome for an economy that is only a quarter the size of Mexico's.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company