The event produced several eye-catching moments, including when humanoids beat human records at the high jump and the 400m. Just a few days before Ultra’s race, Lightning, a robot developed by phone company Honor, ran the 100m in 9.39 seconds, again thundering home quicker than Bolt.

But these tumbling records will likely be, in the pop cultural consciousness, eclipsed by something far more entertaining: tumbling robots. Along with the epic wins, there have been some seriously old-school, epic fails. One humanoid at the weightlifting event lost its balance with a weedy 15kg barbell, started jerking and slammed into the judges’ table, its helpless arms aloft, as if to say, “Why me?” Most memorably, a robot ended his dash by careering into a safety mat, Tom and Jerry style, before cartoonishly arching backward and setting on fire. Each spark was like a beautiful firework.

These slapstick scenes are deliciously satisfying. It’s deeply reassuring to watch robots fizzle out into smithereens. I myself have fond memories of watching the fire-hazard creations on Robot Wars in the U.K. (the successor to BattleBots in the U.S.) get shredded into shrapnel. This time, it’s a reassuring reminder that we can beat robot replicants at our own games. 

South Korean crypto exchange Bithumb has reportedly secured its first-instance court wins in two of four lawsuits aimed at recovering money from users who sold Bitcoin that was mistakenly credited to their accounts. The decisions, handed down by the Seoul Central District Court, mark another step in the exchange’s attempt to unwind a high-profile accounting error from February 2026.

According to a report by Chosun Biz, the court ruled in favor of Bithumb on Wednesday and Thursday in two separate cases. One decision covered a claim of 5 million won (about $3,600), while the other involved 194 million won (about $140,000). Two additional lawsuits—seeking roughly 14.8 million won (about $10,700) and 500 million won (about $362,000)—remain pending.

Key takeaways

• Bithumb won first-instance rulings in two lawsuits over alleged unjust enrichment tied to mistakenly credited Bitcoin balances.
• The court decisions relate to claims of 5 million won and 194 million won, while two other cases are still before the courts.
• Both cases reportedly proceeded through service by public notice because the exchange could not deliver documents to defendants via standard methods.
• The rulings support Bithumb’s broader recovery effort following its Feb. 6 promotional error involving 620,000 BTC.
• Separately, South Korea’s Financial Supervisory Service (FSS) has begun sanctions-related steps over the incident, though no final penalty has been announced.

Court wins follow Bithumb’s February crediting mistake

The dispute traces back to Bithumb’s February 6, 2026 promotional event, when the exchange intended to distribute rewards denominated in Korean won to a group of users. Cointelegraph previously reported that Bithumb confirmed the error after abnormal Bitcoin trades emerged following the promotion. The company said an employee mistakenly selected Bitcoin as the payment unit instead of Korean won, and credited customer accounts with 620,000 BTC.

At the time of the incident, the mistakenly credited Bitcoin was valued at more than $40 billion, according to the earlier reporting. Even though the amount was enormous on paper, Bithumb took steps to stop the fallout from spreading. Cointelegraph reported that Bithumb later stated it recovered 618,212 BTC (about 99.7% of the erroneously credited amount). However, some users had already converted part of the credited balances by selling 1,788 BTC before Bithumb froze the impacted accounts.

What the lawsuits are trying to recover

Rather than focusing exclusively on returning Bitcoin, the lawsuits reportedly sought cash proceeds derived from users’ sales of the credited funds. In March, Bithumb filed four unjust enrichment lawsuits against users who sold the mistakenly credited Bitcoin and did not return the proceeds, according to the earlier Cointelegraph coverage.

Chosun Biz’s latest report indicates that two cases have now reached first-instance outcomes favorable to Bithumb. The decisions cover different amounts—5 million won and 194 million won—suggesting the court is addressing specific user-by-user claims rather than issuing a single consolidated ruling for the entire promotional error.

The court also reportedly handled notice service via public notice in both cases. This occurred because standard methods for delivering documents were unsuccessful, meaning the procedural pathway relied on court-permitted service when defendants could not be reached through ordinary delivery attempts.

Bigger pressure on Bithumb from regulators

While the civil litigation moves through the courts, the exchange has also faced scrutiny from South Korea’s financial regulator. Cointelegraph previously reported that the Financial Supervisory Service (FSS) investigated Bithumb over the February 6 incident—specifically how the exchange could end up crediting customers with Bitcoin it did not hold.

In that earlier coverage, it was reported that the FSS sent Bithumb an inspection opinion in early August, formally triggering sanctions proceedings. However, as of the time Cointelegraph reached out for an update, there was no announced final penalty. Cointelegraph said it approached the Financial Services Commission (FSC) for additional information but did not receive a response by publication.

The combination of civil court actions and the regulator’s sanctions track is notable for investors and users because it underscores how operational mistakes in crypto market infrastructure can escalate into both contractual/legal disputes and formal oversight measures. Even if Bithumb ultimately recovers most of the misplaced assets, authorities can still assess whether internal controls, monitoring systems, and payment/crediting processes were adequate.

Other legal and compliance challenges add complexity

The Bitcoin crediting error is not the only legal pressure Bithumb has encountered this year. Cointelegraph reported that South Korean police raided Bithumb’s offices in June as part of an unrelated investigation into alleged hiring favoritism involving lawmaker Kim Byung-ki. In addition, Bithumb has been challenging a separate six-month partial business suspension tied to Anti-Money Laundering violations, with a Seoul court temporarily blocking the suspension order in April pending a decision on Bithumb’s challenge.

Against that backdrop, the outcome of the user recovery lawsuits may influence how Bithumb manages risk and customer-facing processes going forward. A pattern of first-instance wins could strengthen the exchange’s position in remaining pending cases, while any reversals on appeal would likely reignite uncertainty around how these errors are treated legally and practically.

Readers should watch next for what happens in the two remaining lawsuits still pending, as well as whether the FSS sanctions process concludes with a specific penalty or additional guidance. The resolution of these cases will also matter for broader market confidence in exchange internal controls, especially in a jurisdiction where regulators have shown willingness to pursue sanctions after operational failures.

South Korean cryptocurrency exchange Bithumb has reportedly won first-instance rulings in two lawsuits against its users to recover proceeds from Bitcoin it mistakenly credited to their accounts.

The Seoul Central District Court ruled for Bithumb on Wednesday and Thursday in two of four lawsuits against users who sold Bitcoin mistakenly credited to their accounts, according to a Chosun Biz report.

Thursday’s ruling concerned a claim for 194 million won ($140,000), while Wednesday’s covered a claim for 5 million won ($3,600). Two other lawsuits seeking about 14.8 million won ($10,700) and 500 million won ($362,000) remain pending.

Both cases proceeded through service by public notice because court documents could not be delivered to the defendants through ordinary methods, the report said.

The reported rulings advance Bithumb’s efforts to recover funds from its February error, when the exchange mistakenly credited 620,000 BTC, worth more than $40 billion at the time.

Bithumb goes after Bitcoin sale proceeds

Bithumb said the error occurred during a promotional event on Feb. 6, 2026, when it planned to distribute 620,000 won, or about $420 at the time, in rewards to 249 users. An employee mistakenly selected Bitcoin instead of Korean won as the payment unit and credited customer accounts with 620,000 BTC.

The exchange subsequently said it recovered 618,212 BTC, or 99.7% of the mistakenly credited amount. However, some users had already sold 1,788 BTC worth of the credited balances before Bithumb froze the affected accounts.

Related: Bithumb sets 2028 IPO timetable as it overhauls internal controls

Bithumb filed four unjust enrichment lawsuits in March against users who sold the mistakenly credited Bitcoin and did not return the proceeds. The company was reportedly seeking cash from those sales rather than Bitcoin.

FSS begins sanctions process over Bithumb error

South Korea’s Financial Supervisory Service (FSS) investigated Bithumb over the Feb. 6 Bitcoin error, focusing on how the exchange could credit customers with Bitcoin it did not hold. The regulator reportedly sent Bithumb an inspection opinion in early August, formally beginning sanctions proceedings, but no final penalty has been announced.

Cointelegraph approached South Korea’s Financial Services Commission (FSC), which oversees the FSS, for an update on the investigation and potential sanctions against Bithumb but did not receive a response by the time of publication.

Bithumb has faced other legal scrutiny this year. South Korean police raided its offices in June as part of an unrelated investigation into alleged hiring favoritism involving lawmaker Kim Byung-ki, while the company is challenging a separate six-month partial business suspension over Anti-Money Laundering violations. A Seoul court stayed the suspension in April pending a ruling in Bithumb’s challenge.

Magazine: Korean bank taps Ripple for payments, Pakistan opens crypto licensing: Asia Express

Binance founder Changpeng “CZ” Zhao backed Hong Kong as a potential Web3 and real-world asset hub during an August 27 book meeting in the city.

The event took place at Exchange Square in Central, according to the organizer. CZ discussed Hong Kong’s financial sector, tokenized securities and the development of decentralized exchanges. His comments represented personal forecasts rather than new Binance projects or investment commitments.

CZ says Hong Kong can connect finance with Web3

CZ said Hong Kong benefits from its status as a financial center, access to professionals from mainland China and established institutional relationships. He described Hong Kong and Web3 as a “powerful combination.”

He also named Dubai, Abu Dhabi and the U.S. as markets positioned to benefit from more supportive digital asset policies. These comments were assessments of their prospects. They did not include new licensing applications or expansion plans from Binance.

Hong Kong has introduced a broader regulatory structure covering exchanges, stablecoins and tokenized products. Its approach differs from mainland China, where authorities maintain tight restrictions on cryptocurrency trading and related activities.

The city’s policy direction has attracted financial institutions and asset managers. As crypto.news reported in its coverage of Hong Kong’s stablecoin and custody rules, regulators have sought to expand tokenized finance while retaining licensing and investor-protection requirements.

Hong Kong’s RWA market supports part of CZ’s forecast

CZ predicted that real-world assets would become a major area of Web3 development. He focused on tokenized securities, which can provide wider access beyond traditional market hours and national account systems.

He also described stablecoins as a form of RWA because they place claims linked to fiat currencies on blockchains. That description reflects a common industry classification, although the legal treatment of stablecoins differs between jurisdictions.

Hong Kong has already moved beyond small technical tests. The Securities and Futures Commission said 13 tokenized products were offered to the public as of March 2026. It subsequently introduced a framework covering tokenized products and their secondary-market trading.

The Hong Kong Monetary Authority is also operating EnsembleTX, the pilot phase of Project Ensemble. The pilot supports real-value transactions involving tokenized deposits and digital assets. It is scheduled to operate throughout 2026.

In related coverage, Franklin Templeton recently brought a tokenized U.S. government fund to HashKey, adding another distribution channel for regulated tokenized investments.

CZ expects DEX growth if U.S. pressure continues easing

CZ said decentralized exchanges have progressed from early platforms such as Uniswap and PancakeSwap to newer markets including Hyperliquid. He argued that better infrastructure and stronger user awareness have made DEXs more competitive.

He added that U.S. regulatory pressure appeared to have eased and said continued policy changes “may accelerate” DEX and broader crypto growth. That remains a forecast. Decentralized services can still face securities, commodities, sanctions and anti-money-laundering requirements, depending on their structure and operations.

The SEC and CFTC issued a joint crypto asset interpretation effective March 23. The agencies said clearer classifications could reduce perceived regulatory risk and encourage more U.S. activity. The document did not create a blanket exemption for DEX developers or interface operators.

Market data nevertheless show growing usage. As previously reported, DEX spot volume reached about 24% of covered centralized exchange volume in July. The comparison depends on the exchanges and methodology included.

Regulatory milestones will determine what happens next

Hong Kong’s next steps include implementing its tokenized product framework, continuing EnsembleTX and developing its licensed stablecoin market. Those programs will offer measurable evidence for or against CZ’s RWA forecast.

In the U.S., further SEC and CFTC rulemaking will determine whether decentralized platforms receive specific compliance routes. Until those rules are settled, claims that international DEXs can operate without full customer checks require jurisdiction-specific legal review.