Crypto Exchange Sent A User Rs 56 Crore Instead Of A Rs 5,600 Refund, Customer Buys Lavish Home For Sister

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Due to an unfortunate typo, cryptocurrency exchange Crypto.com mistakenly sent a customer 10.5 million Australian dollars (roughly Rs 57.73 crores), instead of the actual 100 Australian dollars refund that the user was supposed to get, reports have said.

According to reports, the error took place seven months earlier, and now the cryptocurrency exchange has discovered the error. A report in The Verge says that some of the money is already gone, citing the Australian news outlet 7News as saying.

The initial transfer occurred in May 2021. However, the exchange only realised the mistake when conducting an audit in December that year, the report said.

Thevamanogari Manivel, the customer in question, reportedly transferred the money to a joint account and spent 1.3 million AUD on a lavish, five-bedroom mansion for her sister instead of reporting the inaccurate return to the exchange. Now, the company’s fighting to get its cash back with a lawsuit filed in the Victoria Supreme Court.

Crypto.com had put a freeze on Manivel’s account in February. The court has also ordered Manivel to sell the home and return the money (with interest) to the exchange.

Crypto exchange Crypto.com was most recently in the news due to mass layoffs in the company. In June, Crypto.com announced it was laying off around 260 employees, or 5 percent of its workforce, due to the crash in the crypto market. Sources told The Verge last month that the company has quietly let go of hundreds more employees since the initial layoffs.

(With inputs from IANS)

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