Court Orders Bithumb To Pay Damages To Investors For Having Downtime In Bitcoin’s 2017 Rally

Crypto exchange Bithumb will have to pay $200,000 in damages to over a hundred investors for an outage it suffered during Bitcoin’s rally in 2017.

South Korean news agency Yonhap reports that Bithumb has been ordered to pay each of the 132 investors damages from 8,000 won ($6.47) to 8 million won ($6,470).

The exchange went down for over 11 hours on Nov. 12 2017 when bitcoin was stoking its epic rally to $20,000.

The Block reports that Bithumb went down because it couldn’t handle the number of trades being made, which had doubled in size.

A court had initially ruled against the investors but it was later overturned on appeal.

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