Illustration by Alex Castro / The Verge
The Los Angeles Lakers arena sponsoring and Matt Damon-endorsed cryptocurrency exchange Crypto.com accidentally transferred $10.5 million AUD (~$7.2 million USD) to an Australian customer instead of issuing a standard $100 AUD (~$68 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. Crypto.com only realized the mistake when conducting an audit in December 2021.
Apparently code isn’t law
Instead of reporting the incorrect refund to Crypto.com, the customer in question, Thevamanogari Manivel, reportedly transferred the cash to a joint account and spent $1.3 million AUD (~$890,526 USD) on a luxurious, five-bedroom home for her sister.
Now the...
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