According to an exclusive report by Digital Asset, the Seoul Southern District Court ruled in a 900 million Korean won unjust enrichment case in which South Korean virtual asset exchange Coinone sued online investment financial company Cross Finance Korea. In the case, the defendants including Cross Finance are jointly and severally liable to pay Coinone 361.69 million Korean won, about 40% of the principal. The court dismissed Coinone’s claims for rescission of the contract based on fraud and material misrepresentation, but found that Cross Finance knew that the related PG company had a controlling relationship with the pre-settlement entity and had not sufficiently disclosed the risks. As an online investment financial operator, Cross Finance therefore violated its obligations and must bear part of the compensation liability.