QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
$10 500 000 USD
AUGUST 2022
AUSTRALIA
CRYPTO.COM
DESCRIPTION OF EVENTS
"Cryptocurrency trading platform Crypto.com accidentally transferred $10.5m to an Australian woman when processing a $100 refund, and failed to notice the error for seven months."
"Crypto.com, which operates as Foris GFS in Australia, had paid out $10.5m instead of a $100 refund after Manivel’s account number was accidentally entered into the payment amount field."
"The recipient, Thevamanogari Manivel, didn’t notify Crypto.com, instead allegedly transferring funds to bank accounts held by her and her family. Crypto.com claims Manivel used the money to buy her sister a modern million-dollar house, complete with a home gym and theater."
"The company launched legal action in the Victorian supreme court this year, and in February was granted a freeze on Manivel’s Commonwealth Bank account, but most of the money had been transferred to other accounts – which were later frozen."
"Last Friday[ August 26th, 2022], Justice James Elliott, a judge for the Victorian Supreme Court in Australia, issued a default judgment in the case. This became necessary because, as Crypto.com alleged in the court document, Manivel and other named defendants, including her sister Thilagavathy Gangadory, failed to respond to a court summons."
"The court heard that $1.35m of the money had been used to buy a four-bedroom home in Craigieburn in Melbourne’s north in February, and the ownership of the property was then transferred into the name of Manivel’s sister, Thilagavathy Gangadory, who lives in Malaysia."
"Attempts to serve Gangadory the freezing orders were unsuccessful, as she never responded to emails from Crypto.com’s solicitors. The only communication provided to the court was an email reply to Manivel’s solicitors saying “received, thank you”."
"Neither Manivel nor Gangadory could be reached by Ars or other outlets for comment. A Crypto.com spokesperson told Ars, “As the matter is before the courts, we are unable to comment.”"
Crypto.com accidentally transferred $10.5m to a woman in Australia. An employee reportedly messed up the account number and the amount to be transferred. 7 months later the platform realized the error and tried to pursue recovery.
Crypto.com accidentally transfers $10.5m to woman (Sep 27)
peanutbuttergoodness comments on Crypto.com accidentally transfers $10.5m to woman instead of $100 (Apr 22)
Crypto.com's $10,000,000 MISTAKE - YouTube (Apr 22)
Cryptocurrency company accidentally transfers $10.5m to Australian woman and doesn’t notice for seven months | Cryptocurrencies | The Guardian (Apr 22)
Crypto firm accidentally gave $10.5M to sisters, now wants their $1.35M house | Ars Technica (Apr 22)
Crypto.com Sues User After Refunding $10M Instead of $100 - Blockworks (Apr 22)
Crypto.Com Sues A Woman In Australia After Accidentally Issuing Her A Refund of $10M Instead Of $100 - Ethereum World News (Apr 22)
Crypto.com accidentally transfers $10.5m to woman instead of $100 : CryptoCurrency (Apr 22)
Crypto Com Sues User After Refunding $10 Million Instead of 100 (Nov 16)
