Per a report from Australian news outlet 7News, Crypto.com—a crypto exchange company known to many as the one at the heart of a recent Matt Damon-featuring ad—“accidentally transferred” the millions in question when attempting to process a refund in May of last year. The report states that while the refund was intended to be for $100 AUD, i.e. about $68 USD, the accidental transfer ended up being for an estimated $10.5 million AUD, or about $7.2 million USD.
According to CNBC-shared court documents, a woman by the name of Thevamanogari Manivel received the transfer “after an account number was accidentally entered into the payment amount field.” It took seven months for the plaintiffs in the case, defendants of which are listed as “Manivel and others,” to realize this mistake.
Manivel is further alleged to have spent about $1.35 AUD on a home “on behalf of” her sister, as well as transferred funds to others. A judge has sided with Crypto.com and stated that the home in question should be sold and the accidentally transferred funds should be returned. In October, the case is set to return to court.
Complex has reached out to a rep for Crypto.com for comment. This post may be updated.
Meanwhile, here in the States, Biden earlier this year signed an executive order focused on cryptocurrency. At the time of its signing in March, the order was touted by U.S. Treasury Secretary Janet Yellen as part of a push for a “fairer, more inclusive, and more efficient financial system.”