Crypto firm MISTAKENLY sends woman MILLIONS – she bought a mansion

The crypto firm was meant to send her nearly R1,200 as a refund, but wired more than R120 million - most of which was dispersed to others

Sep 4, 2022 - 12:12
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Crypto firm MISTAKENLY sends woman MILLIONS – she bought a mansion

A cryptocurrency firm made one hell of a blunder when it accidentally transferred more than R120 million to a woman, instead of the nearly R1,200 refund that was due to her.

According to News.com.au, the cryptocurrency exchange Crypto.com initially intended to send a $100 refund to Thevamanogari Manivel, from Australia in Melbourne in May of last year.

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The crypto company’s expensive mistake went on unnoticed for a cool seven months until it was discovered during a routine audit. Instead of flagging the payment and informing the company, Manivel decided to spend it – she purchased a mansion a $1.35m mansion in Melbourne and later transferred the ownership to her sister, Thilagavathy Gangadory in Malaysia.

A month before purchasing the house, she sent $430 000 to her daughter.

The crypto firm subsequently took legal action against the woman, in a bid to get its money back.

“Extraordinarily, the Plaintiffs allegedly did not realise this significant error until some seven months later, in late December 2021,” the Victorian Supreme Court judge James Elliott wrote in a court ruling.

The court has finally ordered Gangodory to sell the property and return $1.35 million to the company, with interest. Crypto.com filed court papers in February and managed to freeze Manivel’s accounts, but by then most of the money had been dispersed to Gangadory and the other five people named in the legal filing.

The company also asked that Gangodory’s bank accounts also be frozen, since she was listed as the registered owner of the home. Meanwhile, the company has been unable to get in touch with Manivel and the other defendants about the remaining funds.