One of the top crypto trading platforms Crypto.com accidentally sent $10.5 million to a woman named Ms. Manivel in Melbourne Australia. Apparently, this error occurred when the company was trying to refund $100 back in May 2021 as requested by the women. The platform mistakenly entered a much higher amount instead of a mere $100.
The error was uncovered in a company audit 7 months later just before last Christmas. Ms. Manivel has already spent $1.35 million on a luxury five-bedroom house as a gift for her sister and moved the remaining payment into different accounts.
The company has undertaken legal action against Thevamanogari Manivel and her sister Thilagavathy Gangadory to retrieve the money. Victoria’s Supreme Court judge ordered the luxury home to be sold and ordered Manivel to pay $1.35 million back to Crypto.com.
However, Crypto.com is not the sole company to have mistakenly sent millions of dollars worth of funds to its user.
BlockFi also faced a similar situation after it mistakenly deposited millions of dollars worth of Bitcoin to a few user accounts. It all started when the CeFi crypto lender directed a trading promo in March last year, wherein qualified users would receive a bonus on the crypto they dealt during the same period. The terms also conveyed that the users would acquire their bonuses by May end. But, due to a payment error, a small number of user accounts of them acquired much bigger bonuses than predicted. Reports of BlockFi threatening those clients with legal action appeared soon after the incident.
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