Crypto.com’s Big Fat-Fingered Payout

Crypto.com made an issuing error and instead of sending an AUD$100 refund to a client, sent them a whopping $10.5m one. It seems that the person who was tasked with filling out the form put the account number as the payment amount and sent it off. Two Melbourne women, Manivel Thevamanogari and her sister Gangadory Thevamanogari, received this erroneous amount back in May 2021, which they never returned. Crypto.com didn’t realize what happened until an audit occurred in December 2021. By the time the women were slapped with a lawsuit, the court discovered they already spent a portion of the money, including a AUD$1.35m five-bedroom luxury home. They were ordered to sell the property and return the remaining funds, or face contempt of court.

Someone get these two a newspaper. Every now and then, there have been stories of financial institutions erroneously sending the wrong amount to customers and getting hammered in court for not paying it back, regardless of the defense their side mounts. But, those must have been a sweet ~6 months of high class livin’ they did. Hoping FTX helps me out here!

Written by: nikethereum.eth / Medium / Mirror