South Korean crypto exchanges Upbit and Bithumb have agreed to pay record compensation to users after outages caused by the declaration of martial law in December. Upbit will compensate more than 3.14 billion won for 596 cases, while Bithumb will pay 377 million won for 124 cases. The outages occurred due to a sudden surge in traffic, leading to 99 minutes of downtime for Upbit and 62 minutes for Bithumb. As a result, some users were unable to trade or withdraw funds, especially against the backdrop of falling Bitcoin prices.
1/23/2025 12:39:39 PM (GMT+1)
Upbit and Bithumb have agreed to pay 3.14 billion won for 596 cases and 377 million won for 124 cases respectively after outages due to the declaration of martial law in South Korea 💸
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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