Seoul Court Orders Cross Finance to Pay Coinone $234,000 in Damages
2026-06-23 10:57

Woofun AI reports that the Southern District Court of Seoul has ordered Cross Finance to remit approximately $234,000 in damages to crypto exchange Coinone. The judgment stems from investment products Coinone subscribed to in November 2023, following recommendations from Cross Finance representative Guo. By early August 2024, Coinone’s exposure ranged between 1 billion and 4 billion Korean won. Repayment obligations were first breached on August 5, 2024, due to a 70-billion-Korean-won fraud involving Lumen Payments. Coinone subsequently sought contract termination citing fraud or misunderstanding, having previously sued for roughly 900 million Korean won in unjust gains.

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Tags:
Cross Finance
Lumen Payments
Coinone
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