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Due to an unfortunate typo, cryptocurrency exchange Crypto.com mistakenly issued a customer A$10.5 million ($7.2 million) rather than the expected A$100 ($68), media reports say.
Seven months later, when the exchange finally discovered the error, but till then some of the money had already gone, The Verge reported citing the Australian news outlet 7News as saying.
The initial transfer occurred in May 2021.
However, the exchange only realised the mistake when conducting an audit in December that year, the report said.
Thevamanogari Manivel, the customer in question, reportedly transferred the money to a joint account and spent $890,526 on a lavish, five-bedroom mansion for her sister instead of reporting the inaccurate return to the exchange.
Now the company's fighting to get its cash back with a lawsuit filed in the Victoria Supreme Court.
The court has also ordered Manivel to sell the home and return the money (with interest) to the exchange.
The case will resume in court this October.
–IANS
vc/ksk/
(Only the headline and picture of this report may have been reworked by the business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Due to an unfortunate typo, cryptocurrency exchange Crypto.com mistakenly issued a customer A$10.5 million ($7.2 million) rather than the expected A$100 ($68), media reports say.
Seven months later, when the exchange finally discovered the error, but till then some of the money had already gone, The Verge reported citing the Australian news outlet 7News as saying.
The initial transfer occurred in May 2021.
However, the exchange only realised the mistake when conducting an audit in December that year, the report said.
Thevamanogari Manivel, the customer in question, reportedly transferred the money to a joint account and spent $890,526 on a lavish, five-bedroom mansion for her sister instead of reporting the inaccurate return to the exchange.
Now the company's fighting to get its cash back with a lawsuit filed in the Victoria Supreme Court.
The court has also ordered Manivel to sell the home and return the money (with interest) to the exchange.
The case will resume in court this October.
–IANS
vc/ksk/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
