Upbit, paying 140 Million Won, by not returning Luna to investor 🤬

So, here’s a crypto drama for you. Back in March 2022, a guy, let’s call him Mr. Kim, tried to send some Luna coins from his personal wallet to Binance.

But oops! He mistyped the address, and instead of hitting Binance, the coins landed in Upbit’s own wallet.

Mr. Kim wasn’t just going to gave it up. He contacted to Upbit, trying to get his coins back. But Upbit kept dragging its feet, blaming "internal processes" and delayed it.

Meanwhile, the whole Terra and Luna crash saga unfolded, and bam! The value of Luna went to ZERO!

Fast forward to a massive headache for Mr. KIM and a he lost a lot of money too. Tired of waiting, he decided to sue Upbit’s operator, Dunamu, claiming they owed him big time for the loss.

On August 2024, and the Seoul Central District Court has spoken: Upbit needs to cough up 147 million won plus some interest. The court basically said Upbit should’ve made it easier for the investor to get his coin out before everything went south.

This verdict’s a real signal to all Korea crypto exchanges.