According to Seoul Central District Court, two clients were seeking $ 126.000 and $ 38.000 respectively for financial damages related to a data breach in 2017, in platform cryptocurrency exchange Bithumb. The judge ruled that the allegations were completely unfounded.
According to Fn News, plaintiffs Hong and Seo stated that they had lost money due to an attack Phishing, used privately data which were stolen through Bithumb. The third plaintiff, named Jang, received $ 5.000 to cover his total loss of money. This amount reflects a much lower value than his original claim which was $ 27.200.
In all three cases, the court said the cryptocurrency exchange platform could have provided more resources for the security of its customers to prevent such data breaches.
The judge, however, found that in addition to Bithumb, Jang was also partly responsible, noting that the victim provided details that were not initially included in the data that had been intercepted by the platform.
In order for the attack to be successful, the criminal impersonated a Bithumb customer center agent, providing Jang with information he believed only a Bithumb employee would know.
Then the hacker informed Jang that he had detected a suspicious login attempt on his account and needed a verification code sent to his phone number to prevent it. Once accessed, the hacker converted Jang's XRP and ETH into fiat.
The court ruling came shortly after South Korean police raided Bithumb's office on September 2.
The investigation was conducted by the information crime unit of the Seoul Metropolitan Police Service. He was allegedly involved in an ongoing police investigation involving Lee Jung Hoon, chairman of the board of Bithumb Korea and Bithumb Holdings.