Crypto.com accidentally transferred $7.2 million to an Australian customer's account instead of a $68 refund and did not realise it until seven months later and by then she had already bought a mansion with the money.
Remember that episode from Friends when Phoebe found a severed thumb floating in her soda and then receives $7,000 from the soda company to compensate for the mishap? Phoebe tried to get rid of the free money she was receiving that day, including an accidental $1,000 deposit from her bank but not everybody is Phoebe.
Cryptocurrency exchange Crypto.com accidentally transferred 10.5 million Australian dollars (approximately $7.2 million) to a customer in Melbourne, instead of issuing a refund of 100 Australian dollars ( approximately $68), all because of a silly typo.
The fund transfer occurred in May 2021 when, instead of typing the amount, an employee typed the account number in the payment amount field. Crypto.com did not even realise the error until an audit in December 2021.
Unlike Phoebe, Thevamanogari Manivel — the customer in question — made the most out of Crypto.com’s mistake and reportedly transferred the cash to a joint account and spent 1.3 million Australian dollars (approximately $890,526) on a luxurious home for her sister, Thilagavathy Gangadory, in Craigieburn in Melbourne’s north. Would give up an opportunity like that?
When Crypto.com did realise its mistake, it managed to freeze Manivel’s Commonwealth Bank account in February but most of the money had already been transferred to other accounts, which were also frozen later.
Gangadory didn't respond to communications from Crypto.com's solicitors, thus efforts to serve her with the freezing orders were fruitless. The sole contact made available to the court was a "received, thank you" email response to Manivel's attorneys. The Matt Damon-endorsed crypto exchange is now fighting to get the funds back with a lawsuit filed in the Victoria Supreme Court.
The Guardian reports that a default judgment was awarded to Crypto.com to force Gangadory to sell the property as soon as possible, with the money to go to Crypto.com, as well as interest in the amount of $27,369.64 and costs.