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The resounding mistake that has made a cryptocurrency user a billionaire

If the world of cryptocurrency in Spain has shown us anything, it is that it is not only a volatile and unpredictable market, but unsafe. The bizarre situations regarding cybersecurity about this world they are counted by tens, and some are even hard to believe. And it is that a client of an important exchange of cryptocurrencies received million dollars for a refund when he was owed less than $100.

[Así se venden NFTs para lavar dinero: un informe revela la estrategia para subir los precios]

as collected TheVerge, the exchange of cryptocurrency Crypto.com, sponsored by Matt Damon and by the Los Angeles Lakers Arena, completely accidentally transferred $7.2 million to an Australian client, when he was owed just $68. A flaw that, as if that were not enough, was discovered too late.

as late as 7 months later. By then, part of that money had already vanished in a luxurious home for the sister of the ‘beneficiary’. Of course, this whole matter is already in the hands of the courts.

A wrong transfer

The client in question is Thevamanogari Manivel. You were owed a refund 100 Australian dollars or what is the same, around 150 euros. The company signed for the return, but instead of transferring the A$100 owed to him, it was transferred to him. 10.5 million Australian dollars. This is around 15 million euros.

This initial transfer occurred in May 2021, and the error occurred due to to a typographical error. An employee accidentally entered the number in the payment amount field, causing that 100 Australian dollars to be 10.5 million. It was not until 7 months later, at the end of 2021, that Crypto.com discovered the error by an audit.

Both Thevamanogari Mannivel and his sister, Thilagavathy Gangadory, instead of reporting the mistake, did what many of us would do in their place: spend the money. In this case, the sisters made the money transfer to a joint account, presumably to prevent the sum from being detected in Mannivel’s account.

In February 2022, funds were withdrawn from these accounts to buy property in Craigieburn, Australia. A 5-bedroom property for 1.35 million Australian dollars, and which would have been a gift from Mannivel to his sister. Crypto.com, faced with the situation, took legal action against the Australians.

Money.

The suit, brought in the High Court of Victoria, has been successful. As anticipated Guardian, Crypto.com managed to freeze the funds and ultimately Mannivel’s bank account that same month, after buying the house. Home that the Melbourne sisters will have to sell, as the court has ordered that not only the property be sold, but that the money be returned with interest.

The case will resume in October, although it looks pretty bad. As detailed chain 7NEWS, the lawyers agree on Manivel’s legal responsibility for having reported the ruling, instead of having spent part of that money.

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