Crypto.com accidentally transferred $10.5M to client instead of $100 refund | The Financial Express

Crypto.com accidentally transferred $10.5M to client instead of $100 refund

An employee allegedly entered an account number in the payment box rather th

Crypto.com accidentally transferred $10.5M to client instead of $100 refund
a worker accidentally transferred money to the wrong bank account by entering an account number in the payment field rather than the return amount.

Two Melbourne women, Manivel Thevamanogari and her sister Gangadory Thevamanogari, received an AUD$10.5 million deposit from Singaporean cryptocurrency exchange Crypto.com after the latter made a mistake and incorrectly issued an AUD$100 refund, according to local news source 7News, as reported by Cointelegraph.

Cointelegraph noted that an employee allegedly entered an account number in the payment box rather than the return amount, causing an incorrect transfer to their bank account.

Manivel Thevamanogari and Gangadory Thevamanogari, two Melbourne ladies, got a AUD$10.5 million deposit from Singaporean cryptocurrency exchange Crypto.com after the latter erroneously granted a AUD$100 refund, according to regional news outlet 7News. According to reports, a worker accidentally transferred money to the wrong bank account by entering an account number in the payment field rather than the return amount.

Justin Lawrence from Henderson and Ball Lawyers commented on the matter, “Justin Lawrence from Henderson and Ball Lawyers commented on the matter.”

Centralised financial institutions have the ability to undo mistakes in transactions, in contrast to crypto transactions, which are final and irreversible. A straightforward transaction reversal would not have been possible in this case due to the length of time it took to realise the mistake and the fact that the money from Crypto.com was transferred out of the original account after the payment was made, as reported by Cointelegraph.

(With insights from Cointelegraph)

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