Crypto.com accidentally refunds over $7 mn instead of $68 to customer

Print Friendly, PDF & Email

<!–

–>

<!–

–>

<!–

–>

<!–

–>
<!–

–>

  • ALSO READ

    Indian-American among 2 indicted in US for role in crypto money laundering

    In a first, Australian state outlaws public displays of Nazi swastikas

    Buckle Up: How investors can deal with turbulence in crypto market

    Fake crypto exchanges duped Indian investors of Rs 1,000 cr: Report

    Bitcoin heading to zero, says China state media amid global crypto downturn



<!–

–>
<!–

–>

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.)

No tags for this post.

Leave a Reply

Your email address will not be published. Required fields are marked *