She receives 10 million euros from Crypto.com by mistake, buys herself a mansion
Crypto.com made a mistake by transferring several million to a client’s account. Worse still, the mistake went undetected for seven months.
In Melbourne, a woman received a deposit of A$10.5 million from Singaporean cryptocurrency exchange Crypto.com. This payment is said to be the result of an error in issuing a refund of 100 Australian dollars.
The incident happened in May 2021 and was uncovered during an annual audit in December 2021. Specifically, instead of the expected settlement of $100, an employee allegedly typed an account number into the payment section. A typo at 10,474,143 Australian dollars. This is how Manivel Thevamanogari, the beneficiary, saw a nice sum appear in her bank account. Australian news outlet Ticker News was the first to find out about the case.
Unsurprisingly, the exchange sued the woman to demand the return of the funds. Following the legal action, the Supreme Court of Victoria recently ruled that the funds should be returned to the company.
Only problem, Manivel has already spent 1.35 million Australian dollars of these collected funds. The latter were invested in a luxury five-bedroom mansion in Craigieburn, a suburb of Melbourne. But that’s not all. The woman also transferred $10.1 million to another joint account and sent $430,000 to her daughter. Now all he has to do is sell the property and return the remaining funds. The case is expected to return to court in October.
Despite recent news about the cryptocurrency market, Crypto.com is experiencing strong growth. The exchange offers its digital asset services to Singaporeans and recently to Italians. Something new, on August 8, it announced the acquisition of two local South Korean companies, which marks its entry into the South Korean digital asset market.
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