The legend of Bihumb, the Korean cryptocurrency exchange, continues, this time through a local court.

On January 13, the Korean Supreme Court finally ruled that the exchange must finally pay damages to investors for the 1.5-hour service on November 12, 2017. According to a local news feature, the damage is equivalent to $202400-$25140 in local currency terms.

At first, a region ruled against investors, but was later overthrown. The Supreme Court's final decision ordered to pay damages ranging from $6 to $6400 to 132 investors involved in the case.

The court's final ruling said:

"the pressure or cost of technical failure needs to be borne by the service operator, not by the customer who pays for the service."

Bihumb is the largest cryptocurrency exchange in the host country. There was a temporary termination after the one-hour average order volume suddenly doubled and the trading flow was limited.

Investors seeking compensation claim that BCH and ETC suffered significant declines during the blackout.

Related to:Korean court froze and clean US $92 million property related to Terra tokens.

Prior to the ruling, the Bihumb had been closely monitored by the regional authorities. Bihumb is currently conducting a regulatory investigation into the former chairman of its exchange and the sudden death of one of its largest shareholders after charges of embezzlement.

The survey is conducted through a "special tax survey" being conducted by the Internal Revenue Service (NTS). The government has investigated the probability of tax evasion and raided the Bihumb head office on January 10th.

South Korean regulators seem to have cracked down on local data encryption scenarios. As early as November 2022, China began to investigate cryptocurrency exchanges to enumerate local dynamic passwords.

After the outbreak of the FTX scandal, the South Korean city of Busan announced that the worldwide login password exchange would be deleted from the registration scheme of the third-party data exchange.