Crypto.com made the costly mistake of accidentally sending a customer $10.5 million and didn’t notice for seven months. Now the fallout is getting messy.
We’ve all heard stories about people accidentally getting money deposited in their account to the tune of thousands and the story always ends the same. The customer returns the money or the bank takes it back. But what happens in the age of Crypto when a user refuses to return the money? A new digital space with few laws can create a messy situation which happened for one Crypto.com user.
According to USA TODAY, Melbourne woman Thevamanogari Manivel had $10.5 million AUD (~$7.2 million USD) transferred to her Crypto wallet instead of a refund of $100 AUD (~$68 USD) due to a pretty insane typo. The worst part is this mistake happened in May 2021 but wasn’t discovered until an internal audit in December 2021. According to court docs obtained by the USA TODAY Show, by the time Crypto noticed the mistake, Manivel had already purchased a lavish $1.3M mansion for her sister Thilagavathy Gangadory who lives in Malaysia.
Crypto.com was able to freeze the account and take a victory in the Supreme Court of Victoria where Gangadory was ordered to pay Crypto.com $1.35 million, sell the property, and pay interest of just over $27,000.