Bithumb Seeks Asset Seizures After Mistaken Bitcoin Payout in February Event

Bithumb has initiated legal proceedings against several users to recover the remaining 7 Bitcoin tied to a mistaken February promotional payout. The South Korean exchange had intended to distribute KRW 620,000 to 249 users, but the rewards were issued in Bitcoin units instead, resulting in a much larger erroneous payout estimated at about KRW 12.3 billion. Most recipients returned the funds after being contacted, but some did not. Bithumb has now reportedly filed for provisional seizures as it seeks to preserve assets and recover the outstanding amount.

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