{"id":35057,"date":"2025-07-03T14:32:07","date_gmt":"2025-07-03T14:32:07","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35057"},"modified":"2025-07-03T14:32:07","modified_gmt":"2025-07-03T14:32:07","slug":"crypto-exchange-coinone-wins-south-korean-court-battle-over-doubled-bitcoin-withdrawals","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35057","title":{"rendered":"Crypto Exchange Coinone Wins South Korean Court Battle Over Doubled Bitcoin Withdrawals"},"content":{"rendered":"<div>\n<p>Coinone won an appeal to force five of customers to return bitcoin (BTC) they managed to double withdraw from the South Korean crypto exchange over a glitch in 2018.<\/p>\n<p>According to local media, the Seoul Western District Court\u2019s second civil division said the traders benefited from \u201cunjust enrichment\u201d because the exchange had already completed the first withdrawal on-chain before its server restored their balances.<\/p>\n<p>The mix-up began when Coinone\u2019s software flagged slow confirmations from the Bitcoin network as failed transactions, and automatically topped up users\u2019 accounts even after the withdrawals were properly processed. The traders then withdrew same coins again.<\/p>\n<p>The Bitcoin network experienced significant congestion back around that time as transaction volumes skyrocketed, in the culmination of a years-long scaling debate that had led to the <a href=\"https:\/\/www.coindesk.com\/markets\/2017\/11\/13\/bitcoin-cash-hard-forks-in-bid-to-ease-mining-difficulties\">Bitcoin Cash (BCH) hard fork<\/a> a year earlier.<\/p>\n<p>At the time, the average transaction fee on the Bitcoin network reached a then-record $55, while the memory pool, a sort of \u201cwaiting room for transactions,\u201d grew to 250,000 unconfirmed transactions.<\/p>\n<p>A lower court initially blamed Coinone\u2019s own servers and ordered the payment of only partial damages. On appeal, judges called the network delay an outside event, said the platform need not shoulder the loss and told the users to repay the funds.<\/p>\n<p>Coinone has faced controversy in the past. In a separate trial in 2023, former <a href=\"https:\/\/www.coindesk.com\/policy\/2023\/05\/26\/crypto-exchange-coinones-former-exec-acknowledges-bribery-charges-in-south-korea-report\">employees admitted receiving<\/a> as <a href=\"https:\/\/www.coindesk.com\/policy\/2023\/04\/11\/employees-of-south-korean-crypto-exchange-coinone-arrested-report\">much as 2 billion won <\/a>(around $1.46 million) to list tokens.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Coinone won an appeal to force five of customers to return bitcoin (BTC) they managed to double withdraw from the South Korean crypto exchange over a glitch in 2018. According to local media, the Seoul Western District Court\u2019s second civil division said the traders benefited from \u201cunjust enrichment\u201d because the exchange had already completed the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35057","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35057"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35057\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}