Bithumb seeks asset seizure to recover $520K in errant BTC transfer

South Korean crypto exchange Bithumb has initiated provisional seizure proceedings to recover 7 BTC that it mistakenly sent to users during an event in February, Chosun Biz reported. The exchange had failed to retrieve this final portion from a much larger erroneous distribution. The 7 BTC were valued at approximately 700 million won ($520,000) at the time of the incident. The move to file for a provisional seizure indicates that the company is preparing to file a civil lawsuit. According to a high-ranking industry official, some customers refused to return the cryptocurrency, arguing that the company was at fault for the mistake. However, the consensus in the legal community is that the customers are highly likely to lose if the case goes to court.