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Big mistake and $10.5 million in Australian woman’s account; Cryptocurrency company realized after 7 months


Cryptocurrency company accidentally transferred $10.5 million to an Australian woman, realized after 7 months

One big mistake and $10.5 million in Australian woman’s account

Cryptocurrency exchange Crypto.com accidentally transferred $10.5 million (approximately Rs 83) to an Australian woman’s account while processing a $100 refund.

The transaction went unnoticed for more than seven months before a company audit discovered the error in December 2021.

The crypto exchange mistakenly made a payment to Thevamanogari Manivel after entering her account number in the payment amount field. As a result the customer received $10,474,143.00 in her bank account from Crypto.com.

The company launched legal action to recover the funds in Victoria’s High Court earlier this year, Australian website 7news.com reported.

Following court intervention, specific customer bank accounts were frozen in February. By that point, however, most of the money has been spent or moved to another bank account.

According to the court ruling, from the money that was mistakenly credited to his account, Manivel sent $430,000 to his daughter in January. She spent an additional $1.35 million to buy a home in Craigieburn, a suburb of Melbourne.

Manivel has transferred ownership of the house to his sister, Thevamanogari Gangadory, who now lives in Malaysia.

While Crypto.com tried to offer Gangadory account freezing options, she did not respond to communications from the attorneys. However, she responded to an email from Manivel’s attorneys, saying “received, thanks,” the verdict read.

Manivel’s attorneys told Crypto.com that Gangadory is reviewing all legal options available to her.

By selling the home in Melbourne, the court has now ordered Gangadory to pay Crypto.com $1.35 million and interest on this amount.

If Gangadory does not put the property on the market for sale, Cypto.com will appoint a recipient to arrange the sale and recover funds from the proceeds. Failure to comply with a court order could also lead to legal trouble for the sister duo.

The court also ordered Gangadory to pay the costs of proceedings incurred by Crypto.com.



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