From a NewsTomato report dated January 17, 2019.
A judgment has held that the Korean cryptocurrency exchange Upbit must pay cryptocurrency trading fee rebates in Bitcoin and other assets, as announced, even to an investor whose account it had blocked on suspicion of abnormal trading.
Judge Boo Dong-sik, sitting alone in the 89th Civil Division of the Seoul Central District Court, announced on the 17th that he had found for the plaintiff in an action for delivery of movable property brought by investor A, who sought "delivery of the Bitcoin due under the payback event Upbit ran in 2017." Upbit must accordingly deliver Bitcoin worth some KRW 69 million at the then-prevailing price, as specified in its announcement.
The court stated: "Upbit argues that 'the payback event applies only where cryptocurrency was traded normally on the exchange, and A traded using automated software prohibited by the terms of use, so the event does not apply.' But the event pays 20% of the trading fees generated by market trading, so once those fees were generated Upbit is obliged to pay the investor 20% of them."
Attorney Jaesun Yoon of Law Firm Changchun, who represents A, brought the action in the Seoul Central District Court, saying: "Upbit is refusing A's request for payment of 20% of the trading fees without any particular reason," and "despite taking substantial trading fees, it is not performing its undertaking to pay 20% of them."