Seoul Court Orders Cross Finance to Pay Coinone $234,000 Over Investment Dispute

According to Digital Asset, Seoul's Southern District Court on June 23 ordered Cross Finance to pay crypto exchange Coinone approximately $234,000 in compensation. The ruling followed Coinone's investment in Cross Finance products starting November 2023, with holdings ranging between 1 billion and 4 billion Korean won until August 2024. The investments encountered repayment delays beginning August 5, 2024, traced to a 70 billion won fraud case involving Lumen Payments. Coinone subsequently sought to void its contract with Cross Finance on grounds of fraud and misrepresentation.
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