In line with a recent official report by Yonhap, Bithumb exchange won’t need to repay a cryptocurrency investor who allegedly lost $401k as a result of a 2017 data-breach suffered by the firm.
A supreme court judge determined that the person identified as “Mr. A” for privacy purposes had didn’t successfully prove that his data was compromised within the incident. As a result, the exchange won’t be held responsible for Mr. A’s lost funds.
Mr. A revealed that he was holding Korean won [KRW] funds on the exchange & that the data breach had compromised access to his personal data.
The hackers illegally used his KRW funds to buy Ethereum [ETH] prior later converting them into fiat over four separate transactions.
Earlier also, several other Bithumb users had attempted to hold the exchange in charge of losses stemming from the data breach. A judge ruled on 3rd Sep., however, to dismiss two out of the three claims – for $126k & $38k. A 3rd user was awarded $5k significantly less their losses when the court found that Bithumb exchange was partially responsible therein particular case.