Wed. Oct 5th, 2022


Singapore-based cryptocurrency exchange Crypto.com in May 2021 transferred AU$10.4 million (US$7.15 million) to an Australian woman instead of an intended refund of AU$100 (US$68), and took seven months to recognize the mistake, the Herald Sun newspaper reported.

See related article: Bitcoin sent by mistake, recipient will not be punished for keeping it: South Korea ruling

Fast facts

  • The AU$10,474,143 error occurred when an account number instead of the dollar amount was entered into the payment section of the transfer and was only discovered when the company performed an audit in December.
  • When Crypto.com attempted to retrieve the funds it discovered the recipient, Thevamanogari Manivel, had already spent AU$1.35 million on a home in Melbourne’s northern suburbs intended as a gift for her sister, Thilagavathy Gangadory.
  • An additional AU$430,000 was transferred to Manviel’s daughter and the remainder of the funds were transferred into a joint account held by the two sisters.
  • A judge in the state of Victoria’s Supreme Court has ordered that the home be sold and the total funds be returned to Crypto.com including AU$27,369 in interest.
  • If the house is not placed on the market a receiver could be appointed to arrange the sale, and if the pair ignore the order they could be held in contempt of court.
  • This contrasts with a South Korean judge ruling in December 2021 not to punish a local crypto investor for keeping 199.999 BTC worth US$1.25 million at the time transferred to him by mistake in June 2018. 

See related article: Binance Australia strengthens user protection: report



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