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2023.02.23

The Supreme Court Orders Bithumb to Compensate the Losses Sustained by Data Processing System Failur

The Supreme Court of Korea confirmed the dismissal of the trial court’s decision and upheld the appeals court’s decision on a lawsuit filed by 132 investors against Bithumb. The lawsuit sought compensation for damages caused by data processing system failure, arguing that the company did not fulfill its obligation to provide stable service. The trial court initially found that Bithumb was not liable for any compensation. However, the appeals court overturned the trial court’s decision, stating that it is reasonable for virtual asset investors to expect a more stable system from virtual asset exchanges than from the traditional stock market.

 

Visit our official English blog to continue reading about the Supreme Court of Korea's decision to order Bithumb to compensate for the investors' losses as a result of a data processing system failure