South Korean court holds Orbit Bridge operator liable for hack

Ozys, the operator of the virtual asset service Orbit Bridge, has been held liable for damages to a user following a hack worth over 110 billion won (approx. $80.5 million), Naeil Shinmun reported. According to legal sources today, the Seoul Southern District Court ruled partially in favor of the plaintiff in a lawsuit against Ozys. The court found that Ozys failed to fulfill its duty of care in securely operating its services to store and manage user assets, ordering the company to pay the user 726 million won (approx. $531,000). However, the court limited Ozys's liability to 70%, taking into account the company's efforts to strengthen security and its prompt response in reporting the incident to investigative authorities.