The Crypto.com cryptocurrency exchange accidentally transferred 10.5 million Australian dollars (about $7.2 million) to an Australian client instead of the standard 100 Australian dollars (about $68). This was the result of an unfortunate typo. Moreover, the exchange did not even notice the error for 7 months. And when it nevertheless became known about it, part of the money had already been lost by that time.
This transfer of funds took place in May 2021. An employee accidentally entered an account number in the payment amount field. The company only discovered the error during an audit in December 2021.
The recipient, Tewamanogari Moneyvel, did not inform the Crypto.com administration about the extremely large amount of the payout. Instead, she transferred the money to a joint account and spent 1.3 million Australian dollars (about $890.5 thousand) to buy a luxurious five-bedroom house for her sister.
Now Crypto.com is fighting for a refund and has filed a lawsuit in the Supreme Court of Victoria. In February of this year, the company froze Moneyvel’s account. The court ordered Manivel to sell the house and return the money (with interest) to the stock exchange. The trial is expected to resume in October.
Source: The Verge
