Crypto News : Woman Reportedly Sued By Crypto.com Over $10 Million Mistakenly Sent To Her

Listen to this article Crypto News : Woman Reportedly Sued By Crypto.com Over $10 Million Mistakenly Sent To Her

Introduction

Crypto News: Two sisters in Melbourne, Australia, are facing legal action after allegedly spending $10.5 million mistakenly sent to them by popular cryptocurrency platform Crypto.com. The sisters, Thevamanogari Manivel and Thilagavathy Gangadory, reportedly went on a spending spree with the cash, including purchasing a luxury home worth $1.35 million.

Background

Crypto.com is a Singapore-based cryptocurrency exchange that also offers a Visa debit card to its users. In May 2021, Thevamanogari Manivel requested a $100 refund from the platform. Nevertheless, as a result of an error made by a Crypto.com employee, the woman ended up receiving an astonishing $10.5 million.

Spending Spree

Rather than notifying Crypto.com of the mistake, the sisters allegedly spent the money on luxury items. According to 7NEWS, Manivel purchased a $1.35 million five-bedroom home, while also transferring $10.1 million into a joint account with her sister.

Discovery of the Mistake

The mistake was not discovered until December 2021, during an audit conducted by Crypto.com. An employee had mistakenly entered an incorrect account number in the payment section, resulting in the massive transfer of funds to the sisters.

Legal Action

After discovering the error, Crypto.com initiated legal action against the sisters, and the Victoria’s Supreme Court ordered the sale of the home and the return of the money. According to Decrypt, a Crypto.com representative confirmed that the matter is currently “before the courts,” but declined to provide further comment.

Conclusion

This incident emphasizes the significance of meticulously reviewing and verifying financial transactions before carrying them out. While mistakes can and do happen, it is crucial to promptly notify the sender of any errors and to take appropriate action to resolve the issue.

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