The top cryptocurrency exchange, crypto.com, mistakenly transferred $7.2million into a women’s account instead of a refund of $68. A hilarious part of this incident relates to the realization that happened pretty late, seven months later. With the unfortunate mistake came another jolt when it was found that the Australian woman Thevamangori Manivel had already spent the amount on a lavish home.
Let’s explore the story….
Crypto.com grimly affected by a typo mistake
It all started in May 2021, when a careless employee at Crypto.com typed the account number in the payment field. Actually, Manivel required a refund amount; however, by a matter of chance, she received $7.2 million. The woman reportedly bought a luxurious home and shared it with her sister.
The exchange identified the mishap while conducting an audit in December 2021. By the time things got undermined, it was too late as the customer under scanner spent the entire amount. The company has filed a lawsuit in Victoria Supreme Court, as reported by The Guardian.
The crypto firm froze the Australian woman’s account. The court warned her to sell the house bought from the amount and return it immediately to the exchange. Clouds of speculations hover around the case; it’s still unclear whether Manivel, who earlier wittily acquired the amount, is in any mood to return it.
When speaking about the case, advocates in charge said it’s pretty shameful on the part of the customer who didn’t care to make the revelation right at the moment.
This incident raises questions on crypto transactions; once a transaction happens, there’s no chance of getting it back. Irreversibility is a significant issue that must be addressed to avoid such frauds and mishaps. We believe that when using crypto for transferring money, the responsibility remains with both parties involved.
Let’s wait for the trial, which is scheduled to happen in October 2022. We hope crypto.com succeeds in incurring the loss.
