Crypto.com accidentally transfers $ 10.5 million to a woman instead of $ 100. Almost a year later, the platform demands full refund of the amount and initiates legal action


Two Melbourne women went into sprees after $ 10.5 million was accidentally deposited into one of their bank accounts. One of the largest cryptocurrency trading platforms in the world, Crypto.com, accidentally transferred Thevamanogari Manivel money in May 2021, when the company was trying to process a refund of just $ 100.

Instead of processing the refund, however, someone entered an account number in the payments section and accidentally transferred that huge sum.

Seven months later, the company filed a lawsuit against Manivel and his sister Thilagavathy Gangadory after realizing their mistake.

Crypto.com is one of the largest cryptocurrency trading platforms in the world. It is present in more than 90 countries and has more than 50 million users worldwide. It has just recently obtained the regulation of the CySec (Cyprus Securities and Exchange Commission) and continues its expansion in Europe.

It has now been revealed that the company accidentally transferred $ 10.5 million to a woman in Melbourne, Australia when she asked for a $ 100 refund. It took more than seven months for crypto.com to realize the fact. mistake.

The cryptocurrency platform has filed a lawsuit in the Supreme Court against two sisters to recover the money. The court heard that the company accidentally entered an account number in the payment field instead of the $ 100 refund. It happened in May last year, but the mistake was only discovered during a company audit just before Christmas.

Obviously, crypto.com tried to get the money back. However, the woman and her sister lived a good life and moved the money to avoid legal action or complaints. They also invested in a property in Craigieburn, Australia. The multimillion-dollar mansion is now under seal and will go on sale as part of the $ 10.5 million refund that the two women owe to Crypto.com.

The company filed a complaint against the woman and took the case to court. She is now obliged to return any money she received in error. The Supreme Court obviously upheld the cryptocurrency platform’s complaint and forces the defendants to return the $ 10.5 million last cent.

A judge ordered the property to be sold and orders were taken for the rest of the money to be returned.

There’s no question that if you saw this in your account, you’d know it shouldn’t be there, and it’s actually your responsibility to call the sender and say “this shouldn’t have gotten into my account,” said Justin Lawrence of Henderson and attorneys. of ball. If you are holding someone else’s property, you are actually holding deceptive property, you have no right to it, you must return it.

The case returns to court in October.

As for mistakes on the other side of the mirror, in June 2020 a user paid about $ 2.5 million in transaction fees for the $ 134 cryptocurrency transfer alone.

To be more specific, the Ethereum user wanted to move $ 134 worth of digital currency from one portfolio asset to another. This resulted in ther 10,668 transaction fees corresponding to around $ 2.5 million at the time. Ethereum is an open and decentralized blockchain network that also produces a cryptocurrency: Ether. Ethereum users can dictate the terms of their transactions, setting both the amount of ether they wish to send and the amount of fees they are willing to pay. The higher the fees, the faster the transaction will go. It is therefore possible that the user has simply confused the field relating to the amount to be transferred with that of the transaction fee. He may have wanted to send $ 2.5 million ether with $ 134 commission and would have simply reversed the two fields.


Capture of the transaction, the costs of which amount to approximately $ 2.5 million

While transactional errors are not uncommon in the cryptocurrency industry, they are often not as big as this one. In 2017, someone paid 50 bitcoins in transaction fees to send just under 10 bitcoins. Despite everything, many Internet users disagree with the possibility that this is a mistake and rather think of a form of money laundering that the author tries to pass off by mistake. But when we know that 16 hours after making this mistake, the same user has again paid the same amount in transaction fees, this time to transfer $ 87,000 of ether, we are forced to admit the possibility of an error in the system.

These funds may never be recovered as most blockchains are designed to prevent the cancellation of transactions once the sender confirms them. Let’s just remember that in February 2019 someone accidentally paid 2100 lire as a commission to transfer 1 and was able to get at least half of his transaction fees refunded.

Source: Crypto.com

And she ?

How do you read it?
Would you have returned the money or used it? what (investments, hobbies, etc.)?
Who is responsible for this error?
Do you agree with the court decision requesting the full refund or would you have hoped for a different verdict? Who ?

See also:

Nomad, an interblockchain cryptocurrency transfer service, has lost more than $ 150 million due to a coding error, the fault of the service’s smart contract
Did a user pay around $ 2.5 million in transaction fees to transfer just $ 134 worth of cryptocurrency, simple mistake or money laundering?
Cryptocurrency fraud is growing exponentially, the FTC report says

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