Woman forced to sell 4-bed house after crypto exchange wrongly refunded $7.2m
An Australian woman has been sued after she received part of an erroneous refund from a cryptocurrency exchange – erroneous by five zeroes – that it failed to notice for seven months.from the Supreme Court of Victoria reveal that plaintiffs Foris GFS Australia Pty Ltd and Foris AU Pty Ltd, the corporate entities that run Crypto.com, made claims against eight defendants in relation to a mistaken payment to Thevamanogari Manivel.
In May 2021, A$10.5 million was transferred into Manivel's account"after an account number was accidentally entered into the payment amount field by a representative of the second plaintiff," the court documents state."Extraordinarily, the Plaintiffs allegedly did not realise this significant error until some seven months later, in late December 2021."However, the court heard that during this time, instead of informing Crypto.
From February 2022, Foris sought to freeze Manivel's account with the Commonwealth Bank of Australia, which was also named as a defendant"but no substantive final relief was sought against it." This led to the other accounts that had received money from Manivel to be frozen as well, one of which was her daughter's.
The plaintiffs alleged that the Craigieburn house was bought entirely with funds from the wrongful payment. Two weeks after Manivel's assets were frozen, Gangadory was made registered owner of the property.
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