Cryptocurrency exchange Crypto.com accidentally transferred 10.5 million Australian dollars to a woman instead of a $100 refund.
According to local news outlet 7News, a refund of AUD 100 was sent to Crypto.com by mistake, with AUD 10.5 million for Manivel Thevamanogari and his sister gang Thevamanogari in May 2021. Later, the two sisters used this money to buy a luxury villa in Melbourne, Australia. AUD 1.35 million, including a 5-bedroom gym and movie theater.
The incident occurred in May 2021 but went undetected until a December 2021 annual audit. After filing a lawsuit, the Supreme Court of Victoria ruled that the funds should be returned to the company. He was ordered to sell the property, return the remaining money, or face contempt charges. The subject will be discussed again in October.
Regarding the case, Justin Lawrence from Henderson and Top Lawyers said:
“There’s no doubt that if you saw this on your account, you would know it shouldn’t be there, and it’s actually your responsibility to call the sender and say, look, it shouldn’t have happened to me.”
Unlike crypto transactions that are final and irreversible, centralized financial institutions can reverse errors. In this case, it would be impossible to undo the transaction, given the time it took to detect the error, and the funds from Crypto.com were transferred from the original account after they were received.
