Crypto.com Sues Customer After Accidentally Sending $10.5 Million Instead of $100 Refund

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In May 2021, a woman in Melbourne, Australia, received $10.5 million in an accidental transaction from cryptocurrency platform Crypto.com.

According to reports, the woman, Thevamanogari Manivel, had requested a $100 refund from the platform, but instead received the large sum in her account. Along with her sister Thilagavathy Gangadory, Manivel allegedly went on a spending spree with the money.

Court documents suggest that Manivel bought a $1.35 million five-bedroom home as a gift, while also transferring $10.1 million into a joint account following the error. Crypto.com only became aware of the mistake during an audit in December 2021, when an employee realized that they had mistakenly entered an account number in the payment section and sent the money to the wrong person.

As a result, Crypto.com has taken legal action against Manivel and Gangadory. The matter is currently "before the courts," according to a representative from the platform. Victoria's Supreme Court has reportedly ordered the home to be sold and the money returned.

This incident serves as a reminder that honesty and integrity are crucial when it comes to financial transactions, especially those involving large sums of money . While the temptation to keep the money may be great , failing to report a mistake or error can lead to serious legal consequences and financial losses . It is important to always act with transparency and honesty in all financial transactions, including those involving cryptocurrency.

As the world of cryptocurrency continues to evolve, it is essential to remain vigilant and informed about the risks and challenges involved. While the technology offers many exciting possibilities, it also requires a high degree of responsibility and caution. By staying informed and acting with integrity, we can help ensure that cryptocurrency continues to thrive as a safe and reliable means of conducting financial transactions.

So, it is always better to report the mistake if any error or accidental transaction occurred in any financial transaction . This will not only avoid legal consequences but will also maintain integrity and transparency in the transaction.

Stay safe and informed.