The popular cryptocurrency exchange won a legal battle after accidentally sending $12 million to a user.
Crypto.com sent a user $12 million instead of $112. Realizing this mistake 7 months later, the company started a legal fight after noticing the transaction.
Crypto.com Wins Legal Challenge
The incident that happened to Crypto.com, one of the highest-volume cryptocurrency exchanges, was noticed 7 months later. The company, which carried out an incorrect transfer of 12 million dollars in May 2021, noticed the error during a routine audit in December 2021 and started its legal fight in February 2022.
Although the approximate $ 12 million sent to the user Thevamanogari Manivel was pursued, it turned out that the user bought a house in Melbourne with $ 1.4 million of this money. Manivel’s account was frozen, it was learned that the rest of the money was transferred to the accounts of his daughter and brother. In addition, when the ownership of the house in Melvourne was transferred to Gangadory, who lives in Malaysia, a struggle was started to freeze this person’s accounts and sell the house.
In the case, Judge James Elliott ordered that all the money be returned to Crypto.com with interest and reimbursement. It was learned that he wanted the house to be sold as soon as possible.
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