Crypto.com trading company Crypto.com mistakenly transferred $10.5 million into the account of an Australian woman who did not realize her mistake for seven months.
The platform, operating as Foris GFS in Australia, was aiming to recover $100 from Thevamanogari Manivel, but ended up sending him $10.5 million after Your account number was mistakenly entered in the payment amount spaceGuardian reports.
The case dates back to May 2021, but it was only seven months later that Crypto.com realized the error. The company took legal action in the Supreme Court of Victoria, and in February of this year, it was determined that the woman’s bank account at Commonwealth Bank would be frozen. However, most of the funds had already been transferred to other accounts, which were also subsequently frozen.
Of the $10.5 million, $1.35 million was used to purchase a four-bedroom home in Craigieburn, Australia. The ownership was transferred, in February, to the name of Thilagavathy Gangadory, W.L Sister of a woman who lives in Malaysia.
According to The Guardian, attempts to comply with Thilagavathy Gangadory’s account freeze orders were unsuccessful because the woman never responded to emails from Crypto.com’s lawyers. Thus, the only communication the court had access to was an email response to the sister’s attorney that read “Received, thanks.”
Thevamanogari Manivel’s defense told the cryptocurrency trading firm that Thilagavathy Gangadory was seeking “legal advice”. This resulted in a default judgment being awarded to Crypto.com to force the woman to sell the property as soon as possible.
So the proceeds from the sale will go to the company.as well as interest in the amount of $27,369.