A South Korean court has ruled in favor of the Bithumb exchange after a user was hacked for around $355,000 and moved to sue the firm over the loss.
According to a report from CoinDesk Korea on Tuesday, court documents reveal that Bithumb user Ahn Park said he'd placed 400 million Korean won in his account with Bithumb on Nov. 30 2017 and within hours someone, assumed to be a hacker, had logged into his account and exchanged the cash for ethereum.
Over the same day, Park alleged, Bithumb allowed the ethereum to be transacted out of his wallet four times. As a result, the only funds left when he returned to his account were cryptos worth 121 won (11 U.S. cents) and less than a dollar in cash.