Source: Market Watch
Cryptocurrency exchange Crypto.com mistakenly deposited $10.5 million directly into a woman’s bank account when the platform only intended to give her a $100 refund.
According to 7news in Australia, a Melbourne woman received the giant payment back in May 2021, and several months later, Crypto.com discovered its error.
“Extraordinarily, the Plaintiffs allegedly did not realize this significant error until some seven months later, in late December 2021,” the Victorian Supreme Court judge James Elliott wrote in a court ruling.
The woman, Thevamanogari Manivel, is being sued by the crypto giant for its money back. The only problem: some of it has already been spent.
Manivel used $1.35 million of the funds to purchase a five-bedroom home for her sister Thilagavathy Gangadory in Craigieburn, Australia.
Crypto.com has since taken legal action against both sisters, and the luxury home has been ordered to be sold, although other legal proceedings regarding the situation are scheduled to resume in October, the report says.
Following the news, a Crypto.com representative told Decrypt the situation is currently “before the courts” and would not offer comment further.
Crypto.com has come under fire by some crypto investors in the wake of its now-infamous commercial featuring Matt Damon titled “Fortune Favors the Brave.” Since the ad’s debut in Oct. 2021, prices for bitcoin are down nearly 70%, and Ethereum prices have been cut in half.