Coinone, a major South Korean crypto exchange, won a legal battle after a glitch allowed users to withdraw Bitcoin twice. Between 2017 and 2018, delayed blockchain confirmations led Coinone’s system to misinterpret withdrawals as failures, triggering duplicate payouts. Five users exploited this and withdrew more Bitcoin than intended. The Seoul Western District Court ruled the glitch was due to external blockchain issues and not Coinone’s fault. The court ordered the users to return the duplicated Bitcoin, citing unjust enrichment. This decision sets a legal precedent in South Korea regarding exchange liability in cases involving blockchain delays and system-induced double withdrawals.
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