UK Investment Guides Loader mistakenly refunds $7.2 million to customer

written by Bella Palmer
crypto-com only realized the mistake when conducting an audit in December 2021

The Los Angeles Lakers arena sponsoring and Matt Damon-endorsed cryptocurrency exchange accidentally transferred 10.5 million AUD (7.16 million USD) to an Australian customer instead of issuing a standard 100 AUD (68.23 USD) due to a pretty unfortunate typo. According to Australian news outlet 7News (via CoinTelegraph), the exchange didn’t even notice the error until seven months later, and by that time, a portion of the money was already gone.

The initial transfer occurred in May 2021 after an employee accidentally typed an account number in the payment amount field. only realized the mistake when conducting an audit in December 2021.

Instead of reporting the incorrect refund to, the customer in question, Thevamanogari Manivel, reportedly transferred the cash to a joint account and spent 1.3 million AUD (0.89 million USD) on a luxurious, five-bedroom home for her sister.

Now the company’s fighting to get its cash back with a lawsuit filed in the Victoria Supreme Court. As noted by The Guardian, successfully put a freeze on Manivel’s account in February. The court has also ordered Manivel to sell the home and return the money (with interest) to the exchange. The case will resume in court this October. Following the news, a representative told Decrypt the situation is currently “before the courts” and would not offer comment further.

Extraordinarily, the Plaintiffs allegedly did not realize this significant error until some seven months later, in late December 2021, the Victorian Supreme Court judge James Elliott wrote in a court ruling. has come under fire by some crypto investors in the wake of its now-infamous commercial featuring Matt Damon titled “Fortune Favors the Brave.” Since the ad’s debut in Oct. 2021, prices for bitcoin are down nearly 70%, and ethereum prices have been cut in half.


The opinions expressed by our writers are their own and do not represent the views of UK Investment Guides. The information provided on UK Investment Guides is intended for informational purposes only. UK Investment Guides is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

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