Crypto.com\'s $10 Million Mishap: Couple Assumes Lottery Win, Faces Legal Repercussions
Imagine receiving $10.5 million AUD instead of a $100 refund! That\'s exactly what happened to a Melbourne couple, Thevamanogari Manivel and Jatinder Singh, in a bizarre case involving cryptocurrency exchange Crypto.com. This incredible story, unfolding since , highlights the potential pitfalls of human error in the digital age and underscores the critical need for robust security protocols in cryptocurrency transactions.
The Accidental Fortune: From $100 Refund to $10.5 Million
The story begins with a simple refund request. As reported on , a user requested a $100 refund from Crypto.com. However, a Crypto.com employee mistakenly entered an account number in the payment section, leading to a catastrophic error. Instead of $100, the couple received a staggering AU$10.5 million! Crypto.com didn\'t realize their mistake for a full seven months.
Assuming a Lottery Win? The Couple\'s Defense
According to reports, in their virtual court appearance, the couple claimed they believed they won the funds through a competition. Victoria’s County Court, however, saw things differently. Crypto.com\'s compliance officer stated that there was no such competition. Consequently, Thevamanogari Manivel and her partner, Jatinder Singh, faced theft charges. The incident has led to serious legal troubles.
Legal Battles and Consequences in Victoria\'s County Court
The aftermath of the accidental transfer has been a legal nightmare. The couple, , stand trial in Australia. Thevamanogari Manivel was sentenced to 18 months of community corrections with six months of unpaid community work on , while her husband faces a plea trial. Victoria’s County Court is at the center of this high-profile case, exploring the intricacies of theft and the responsibility of recipients of mistakenly transferred funds.
Key Takeaways: Human Error and Crypto Security
This case serves as a stark reminder of the risks associated with cryptocurrency transactions and the potential for devastating errors. A simple $100 refund request snowballed into a $10 million loss for Crypto.com, a costly legal battle, and potential jail time for the couple involved. It highlights the absolute necessity for stringent security measures and double-checks within cryptocurrency exchanges to prevent similar mishaps in the future.