Time CryptoCom mistakenly sent $10.5 million to a woman instead of $100

Getting rich is everyone’s dream, but getting rich by chance is not everyone’s destiny. However, this is not a lottery winning story that sounds crazier than a fantasy or an inventor who made a fortune from an accidental invention. This is a story about how CryptoCom accidentally transferred a whopping huge sum of $10.5 million to a woman in Melbourne Australia when she requested a refund of $100.

However, CryptoCom only realized the error after conducting an audit of the company before Christmas 2021. But it was too late.

Million Dollar Bungle from CryptoCom

The amount was transferred to Thevamanogari Manivel in May 2021, when a prominent cryptocurrency exchange attempted to process a refund of just $100. However, someone incorrectly entered an account number in the payment section instead. According to the court document, the large sum was mistakenly transferred in May 2021 and discovered seven months later.

But some of the money is already gone. Manivel transferred $10.1 million to a joint account. In February of this year, money was withdrawn from two accounts to purchase a luxury five-bedroom home for $1.35 million in Craigieburn as a gift to his sister.

What followed was a legal battle that favored CryptoCom after a Victorian High Court judge ordered that the luxury home be sold and the remaining funds returned to the company. If the homeowner fails to bring the property to market, a judge will appoint a bankruptcy trustee to arrange the sale. They could also face contempt of court if they ignore the order. The case will return to court in October.

Justin Lawrence of Henderson & Paul Lawyers was quoted as saying:

“There’s no doubt that if you saw it on your account, you’d know it shouldn’t be there, and it’s actually your responsibility to contact the sender and have a look. You shouldn’t enter my account.”

Costly BlockFi Error

CryptoCom is not the only crypto company that has mistakenly sent millions of dollars of money to its user. BlockFi also found itself in a similar situation after accidentally depositing millions of dollars of bitcoin into a few user accounts.

It all started when cryptocurrency lender CeFi conducted a trading campaign last March, in which eligible users would receive a reward for the cryptocurrencies they traded during the same period. The terms also stated that users would receive their rewards by the end of May, but due to a payment error, a small number of user accounts received much larger rewards than expected.

Reports of BlockFi threatening these clients with legal action surfaced soon after.

The post The Time CryptoCom accidentally appeared with $10.5 million instead of $100 first on CryptoPotato.

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