Crypto exchange platform Crypto.com transferred $10.5 million to an Australian woman while processing a $100 refund and was unaware of the error for seven months.
The company, which paid Hollywood star Matt Damon to appear in a Super Bowl commercial with the slogan “fortune favors the brave,” discovered the error in December 2021, seven months after Crypto.com made it.
After Crypto.com accidentally entered Manivel’s account number into the payment amount field, Crypto.com, which operates as Foris GFS in Australia, paid out $10.5 million instead of a $100 refund.
The company filed a legal action in the Victorian Supreme Court this year and, in February, was granted a freeze on Manivel’s Commonwealth Bank account. Still, most of the money had been transferred to other accounts, which Bank later froze.
In February, the Court heard that $1.35 million was used to purchase a four-bedroom home in Craigieburn, Melbourne’s north. She then transferred ownership of the property into the name of Manivel’s sister, Thilagavathy Gangadory, who lives in Malaysia.
So, the women get the money, $10 million, and she spends, and for now, Court sold that house she purchased and 10% interest over then. So, what now?
As a result, Crypto.com was awarded a default judgment to compel Gangadory to sell the property as soon as possible, with the proceeds going to Crypto.com and $27,369.64 in interest and costs.
Note: Never send your money to anyone’s address.