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Crypto firm accidentally gives woman $10 million: 5 quick facts
- Crypto.com transferred $10.4 million to Thevamanogari Manivel instead of $100
- Manivel split the money with six people including her daughter and her sister
- Manivel's sister, Thilagavathy Gangadory bought a $1.35 million house in Melbourne
Crypto.com a cryptocurrency firm that had hired Matt Damon for a Super Bowl commercial last year mistakenly wired $10.4 million to an Australian woman, Thevamanogari Manivel in May of last year, according to a report from the New York Post. With that money, Manivel bought her sister a mansion Melbourne, Australia.
Here’s five quick facts about the incident:
How much money was transferred?
Crypto.com had originally intended to send Manivel a $100 refund last year. Instead, the crypto firm ended up adding a few zeroes to the amount and transferred $10,474,143 instead.
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What happened to the money?
Upon receiving the money, Manivel split up the money with six other people including her daughter and sister, according to news.com.au. Manivel spent some of the money to buy a four-bedroom house in Melbourne as a gift for her sister, Thilagavathy Gangadory, according to court filings. The house is valued at $1.35 million.
When did the incident take place?
Crypto.com had made the $10.4 million transfer to Manivel back in May last year, but only found about it in December, seven months later during its routine audit. In February this year, the crypto firm filed court papers.
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What happened next?
Since the company filed court papers, Manivel’s accounts have been frozen, however, the money has already gone out to her sister Gangadory and the five others who have been named in the lawsuit. Because Gangadory was listed as the owner of the $1.35 million home, Crypto.com asked the court to freeze her account as well.
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What was the verdict?
Last Friday, on August 26, 2022, a Victoria Supreme Court judge ruled in favour of Crypto.com. Manivel and the six others were ordered to repay all the money in addition to being required to cover the legal expenses incurred plus 10% interest, which amounts to $27,369.64.
In order to pay back Crypto.com, Gangadory has been forced to sell off her home to reimburse the crypto firm.
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