Oops! Crypto.com Sent a $10.5 million refund to a customer

Should have been $68

Crypto.com is a major company in the crypto sphere. The company has an official NBA arena in Los Angeles and is endorsed by Matt Damon. The company deals in crypto and finances daily so one would expect the company to have a firm grip on how things are handled, that it seems, was not the case in one particular incident where one lucky customer received $10,5 million instead of a standard refund.

The incident seems to be due to a simple  typo that went unnoticed for seven months. Once the company figured it out and contacted the customer it seems some of the money was already spent. 

It would seem that a now ex-employee of the company mistakenly typed the user’s. Account number into the payment field and this was only discovered after an audit in December of 2021. The money was not reported back to the crypto company by the customer. 

The customer, a Thevamanogari Manivel , proceeded to take about $896,526 and purchase a brand new 5-bedroom house for her sister. The rest of the money is currently unaccounted for.Crypto.com is now taking Miss Manivel to court in an attempt to get back the money that is mistakenly sent to her.

The lawsuit has been filed in the Victoria Supreme Court of Australia and a freeze has already been put on Manivel’s account back in February. The court has ordered Manivel to return the money with interest and sell the home.

It would seem human error is a big problem facing crypto lately as other platforms have lost big as well due to simple mistakes. The decentralized exchange OptiFi recently ended up deleting its entire blockchain due to a simple error of not knowing what certain commands on the blockchain do. Perhaps AI will be the future of the crypto market as DAOs and newer Machine learning tactics are created for the DeFi sector.


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