The court took the side of Bithumb in the case of the loss of cryptocurrency at $ 355,000

In November, an exchange customer placed 478 million Korean won on his account. After that, the hacker allegedly gained access to his account and exchanged fiat currency for broadcast. Bithumb processed these transactions and as a result, the client’s account left 11 cents in cryptocurrency and one dollar in Fiat.

The affected client of the exchange suggested that the consequences of a hacker attack on the platform in 2017 could result in loss of funds.

“Considering that Bithumb offers services similar to financial sector services, it should provide a high level of security,” the client’s claim to the parent company Bithumb says.

Representatives of the exchange, in turn, said that Bithumb is not a financial institution and is not obliged to compensate for the damage.

“We have strengthened our security policy since the leak of personal data, and thus fulfilled all the necessary obligations,” – answered in Bithumb.

The decision of the court says that Bithumb sent the client 10 SMS-notifications about the withdrawal of funds from his account, thereby warning about the danger. The judge ruled out the connection of last year’s Bithumb hacking with the leakage of client data, adding that the victim himself could transfer personal information to the attackers.

The court also noted that cryptocurrencies “are mainly used for speculative purposes, so they cannot be considered as an electronic means of payment.”

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