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Crypto.com accidentally refunds over $7mn to customer instead $68, buys luxury home

  A Singapore based cryptocurrency exchange Crypto.com, in May 2021 mistakenly transferred A$10.5 million (US $7.2 million) rather than the expected A$100 (US $68) to a woman.

SNS | New Delhi |

Due to an unfortunate typo, a Singapore based cryptocurrency exchange Crypto.com, in May 2021 mistakenly transferred A$10.5 million (US $7.2 million) rather than the expected refund of A$100 (US $68) to a woman, media reports say.

The customer has been recognized as Thevamanogari Manivel, an Australian.

The exchange realized the mistake seven months after transfer of funds while conducting an audit in December that year.

When the company tried to retrieve it, it learnt that some amount had already been spent by the woman. The Verge reported citing the Australian news outlet 7News as saying.

Now the company’s fighting to get its cash back with a lawsuit filed in the Victoria Supreme Court.

Reportedly Thevamanogari Manivel bought a lavish five-bedroom mansion for her sister, Thilagavathy Gangadory as a gift worth A $1.35 mn instead of reporting the inaccurate return to the exchange.

Additionally, she transferred a sum of A $4.3 lakh to her daughter. She transferred the balance amount into a joint account held by the two sisters.

The state of Victoria’s supreme court has ordered Manivel to sell the home and return all the money with an interest of A $27,369 to the exchange.

“If the luxury home doesn’t find a buyer then a receiver could be appointed to arrange the sale, ” the court said.

The court also warned both the sisters saying that if they ignore the order it will be held as contempt of court.

The case will resume in court this October.

A similar case happened in December, 2021 where a Korean judge ordered not to punish a local investor. He kept 199.999 BTC worth USD 1.25 mn which transferred to him mistakenly in June 2018.