• Crypto.com accidentally sent AU$10.5 million to an Australian
• The error was not noticed until seven months after the transfer
• Neither Crypto.com nor the court were able to successfully contact the Australian
The error: The account number in the amount field
AU$10.5 million was in Thevamanogar Manivel’s account one day, transferred from Crypto.com. She was originally only supposed to receive an open repayment of AU$100 – court documents that have now been released show that an employee of the crypto platform accidentally wrote the account number in the amount field.
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Manivel apparently did not feel obliged to report the error. Instead, she reportedly spent around AU$400,000 in the seven months before Crypto.com caught his eye. She transferred the remaining money to a joint account held with her sister Thilagavathy Gangadory and spent around AU$1.5 million on the purchase of a luxury property. This is evident from the court documents.
When Crypto.com finally became aware of the missing funds in December last year, the crypto platform tried to contact Manivel – to no avail.
Manivel’s accounts have been frozen and the property must be sold
Apparently, the newly minted millionaire did not appear in court either. This is how Crypto.com was able to convince the judge to freeze the accounts with the money. It was also decided that the sisters would have to resell their new home and pay back the proceeds plus interest and other charges incurred at Crypto.com. However, this verdict is not yet final, and the hearing is expected to continue in October. According to the released documents, Manivel’s lawyers responded only once to a court contact – succinctly: “We received your email. Thank you.” Nothing has been heard from the Malaysia-based sister, but she is said to have legal counsel.
It is still unclear how this legal dispute will end. At the latest at the hearing in October, however, there should be new results. When asked about this, Crypto.com told CNBC, “As long as we’re in court, we can’t discuss the issue.”
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