June 21, 2024

Woman buys house after crypto firm accidentally sends her $10.5 million


A woman in Australia went on a spending spree after a leading cryptocurrency exchange accidentally sent her $10.5 million AUD (£6.25m).

Crypto.com sent the funds to Thevamanogari Manivel’s bank account in May 2021 when trying to issue a $100 refund, but did not discover the error until an audit was performed seven months later.

By then, Ms Manivel had already sent the funds to another account held jointly with her sister Thilagavathy Gangadory, according to court documents.

Some of the money was used to buy a $1.35m five-bedroom house in Melbourne, which Victoria’s Supreme Court has now ordered to be sold and the money returned.

Crypto.com is also seeking 10 per cent interest on the amount, plus legal costs, while a separate order has been made regarding the rest of the funds mistakenly sent.

“It is established that the Craigieburn property was acquired with funds traceable to the wrongful payment and would never have been in Gangadory’s hands if the wrongful payment had not been made,” Justice James Elliott said as he handed down his judgment.

“Thus, Gangadory was unjustly enriched by receiving the purchase price of the Craigieburn property out of the wrongful payment … Accordingly, I was satisfied that the orders relating to the sale of the Craigieburn property were appropriate.”

A default judgement was made by the court after Ms Manivel reportedly failed to show, with Justice Elliott ruling that “references to the facts of this case based on such uncontested evidence are necessarily open to challenge if Gangadory ever seeks to set aside the default judgment”.

Crypto.com did not immediately respond to a request for comment from The Independent.

Neither Ms Manivel nor Ms Gangadory could be reached. The court case will resume in October.

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