Everybody wants to come rich but fate will not reward everyone’s wishes. This is not a story of a lottery winner that sounds crazier than fiction or of an inventor who made a fortune out of an accidental discovery. This is the story of how CryptoCom accidentally transferred a massive $10.5 million to a woman in Melbourne Australia when she asked for a $100 refund. However, CryptoCom did not discover the error until a company audit just before Christmas 2021 and by then, it was too late.
CryptoCom transferred $10.5 million to one Thevamanogari Manivel in May 2021 when the crypto exchange was trying to process a $100 refund. However, someone erroneously entered an account number in the payment section instead of the amount. As stated in the court document, the massive sum which was accidentally transferred in May 202, was discovered seven months later.
By then, it was a little too late as a portion of the money was already gone. Once she received the money, Manivel transferred all of it into a joint account. In February this year, the $10.5 million was then taken out of two accounts for the purchase of a lavish $1.35 million five-bedroom property in Craigieburn as a gift to her sister.
A legal battle ensued that favored CryptoCom after the Victoria’ Supreme Court judge ordered the luxury home to be marketed and the remaining money to be refunded back to the company. Should the owner of the property fail to put the property on the market, the judge would appoint a receiver to complete the sale. They could also face contempt of court charges if they ignore the court’s orders. The case will return to court in October.
CryptoCom isn’t the only cryptocurrency company to have mistakenly sent millions of dollars worth of funds to users. BlockFi also made a similar mistake after sending millions of dollars worth of Bitcoin to some user accounts. It started when the cryptocurrency lender ran a trading promo last year. Eligible users were to receive a bonus on the cryptocurrency they traded within that period. Erroneously, a few users pocketed bigger bonuses than expected. Blockfi reportedly threatened those users with legal action soon after the incident happened.
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