It took the exchange seven months to realize that this colossal error had been made — and for most of this year, Crypto.com has been battling to get the money back.
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An Australian woman who was owed a $100 refund by Crypto.com ended up receiving $10.5 million by accident.
It took the exchange seven months to realize that this colossal error had been made — and by that time, Thevamanogari Manivel had gone on a spending spree.
A court heard that she gave gifts to six people — including her family members — and splashed out on a plush five-bedroom home.
It's believed that a Crypto.com employee had accidentally entered a bank account number into the payments box, and the mistake was only spotted during a routine audit.
Legal proceedings have been underway since December 2021 — and now, a court has ruled that Manivel must pay all of the money back… plus interest.
However, a substantial chunk of the money has been sent overseas to her sister Thilagavathy Gangadory, who lives in Malaysia. And to make matters worse, it appears that she has failed to respond to requests from Crypto.com's solicitors.
A judge has concluded that Manivel would never have been able to buy the luxury property in Melbourne if Crypto.com hadn't made this mistake.
However, he said it was "extraordinary" that it took so long for the crypto exchange to realize that the substantial overpayment had been made.
Work is continuing to retrieve the rest of the money — and the case is due to appear back in court in October.
