The Blubber

Per Decrypt

An Australian woman asked Crypto.com for a $100 refund, and instead of being sent the exact amount, $10.5 million was sent to her account. Now, the company is suing her after she bought a luxury house and went on a spending spree.

7news shared how Crypto.com accidentally sent the amount in May 2021 to Thevamanogari Manivel instead of the supposed $100. Seven months after, the company started its legal battle against her and her sister after they realized what they had done, with the error discovered in December 2021.

In February 2022, the sisters reportedly bought a Craigieburn property for a whopping $1.35 million after transferring $10.1 million to a joint account. Justin Lawrence from Henderson and Ball Lawyers gave a statement on the situation.

Lawrence: “If you’re withholding property of someone else you’re effectively holding property by deception, you’re not entitled to it, you need to give it back.”

Lawrence then explained how what the sisters did was normal and that other people might have said the same. However, Victoria's Supreme Court has already ruled, requiring the home to be sold and the money to be returned to Crypto.com, the Singapore-based exchange.

Lawrence: “There’s no doubt that if you saw that in your account you would know it shouldn’t be there, and the onus is actually on you to actually call the sender and to say look that shouldn’t have come into my account,”

Earlier this year, Crypto.com had to let go of 20% of its workforce. The company cited how the FTX collapse damaged industry trust, leading them to need to let go of a significant number of employees.

Recently, Visa and Mastercard have decided to push back on crypto services, citing the need for better regulations and market conditions. Visa previously entered a partnership with FTX, where it served its global credit card agreements.

See flow at unusualwhales.com/flow.

Other News:

• Crypto.com to Slash 20% Of Workforce Citing How the FTX Collapse Damaged Industry Trust
• Visa and Mastercard push back on crypto services, citing the need for better regulations and market conditions

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