Upbit, Bithumb compensate users after service outages during martial law
Upbit and Bithumb will compensate investors $2.5 million after service outages caused by a surge in crypto activity during South Korea’s martial law declaration.
South Korean cryptocurrency exchanges Upbit and Bithumb will compensate investors following service downtime caused by an unexpected declaration of nationwide martial law on Dec. 3, 2024.
On Dec. 3, Yoon Suk Yeol, president of South Korea, declared martial law during a televised address in response to rising political tensions. The resultant panic in the financial and cryptocurrency markets led to a surge in user activity on local exchanges, according to a Yonhap news report.
Additionally, the Bitcoin (BTC) price in South Korea temporarily dropped 32%.
Go to Source
Author: Arijit Sarkar
