Coinone, a South Korean cryptocurrency exchange, successfully won an appeal forcing five customers to return bitcoin they had inadvertently withdrawn twice due to a software glitch in 2018. The incident occurred during a time of significant congestion on the Bitcoin network, leading Coinone’s software to misidentify delayed confirmations as failed transactions, resulting in automatic account top-ups. The traders managed to withdraw the same bitcoins again after the first transaction was already processed. The Seoul Western District Court ruled that the customers' gains amounted to 'unjust enrichment' since the initial withdrawals were completed before their balances were restored by the platform. Initially, a lower court found Coinone at fault, but the appellate court deemed the network delay an external factor, absolving the exchange from liability. Coinone has faced controversies in the past regarding operations and regulatory compliance in the rapidly evolving cryptocurrency market.

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