Crypto.com mistakenly transfers millions to Australian

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A mistake worth millions: The crypto exchange Crypto.com accidentally transferred around seven million euros to a woman from Melbourne. Actually, she should only get 68 euros.

In May 2021, a Melbourne woman found a surprise worth millions in her bank account. Because the crypto platform Crypto.com had accidentally transferred her 10.5 million Australian dollars.

Actually, the woman should only get a refund of 100 Australian dollars. The mistransfer is now being dealt with in court, according to the Australian news site 7News reported.

Crypto.com has taken legal action

However, the crypto exchange Crypto.com only noticed the error, which had already occurred in May 2021, seven months later.

Thevamanogari Manivel, the woman from Melbourne, had meanwhile set about diligently spending the money with her sister.

Crypto.com has now taken legal action against the Melbourne woman to recover the money. However, much of the money has already been spent.

Will Crypto.com get the money back?

Thevamanogari Manivel then used the money to buy a five-bedroom luxury home for A$1.35 million in February. This is said to have been a present for her sister.

However, the Victorian Supreme Court has now ordered this property to be sold. This is how Crypto.com should get the money back.

A compulsory administrator could also be used for this purpose if the owners do not take care of the sale themselves.

However, it has not yet been finally clarified whether Crypto.com will actually get its money back. The case is due to go back to court in October.

How did the error come about in the first place?

Actually, Thevamanogari Manivel was only supposed to get a refund of 100 Australian dollars – the equivalent of around 68 euros. However, she actually received 10.5 million Australian dollars, i.e. around seven million euros.

The refund error occurred because Crypto.com did not enter the amount on the line provided. Instead, the account number ended up there and resulted in the expensive error.

However, the error was only discovered during an annual audit, as 7News reports from the court documents.

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Source: https://www.basicthinking.de/blog/2022/09/01/crypto-com-fehlueberweisung/

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