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TITLE Seoul High Court 2020Na2032211, 2032228, 2032235 Decided August 25, 2022: Appeal ¡¼Compensation for damages (Others)¡¤Compensation for damages (Others)¡¤Compensation for damages (Others)¡½ [full Text]
Summary
¡¼Main Issues and Holdings¡½ In the case where: the DB server (Master) of the online virtual currency transaction intermediary site operated by Company A was overloaded due to an increase in access and order volume, resulting in a level of computer failure that made it difficult to operate the exchange system, Party B, etc., who entered into service use agreements with Company A, sought damages from Company A by claiming that they suffered losses due to a sharp decline in the price of virtual currencies while transactions were suspended due to the inability to utilize the services by being unable to access the site or make orders, etc., it was held that Company A is obligated to pay compensation to Party B, etc., for the damages arising from the non-performance of obligations under the service use agreement, as Party B, etc., were unable to use the service due to a computer failure attributable to Company A despite Company A being obligated to provide Party B, etc., with service of making virtual currency transactions using the site¡¯s systems.
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