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Cryptocurrency.com Sends Woman Rs 57 Crore Instead Of Rs 8,000, She Buys A Mansion

By: Buzz Staff

Local News Desk

Last Updated: September 03, 2022, 10:43 IST

New Delhi, India

A five-bedroom house valued at about Rs 7.34 crore was purchased as a "gift" for her sister Thilagavathy Gangadory.

A five-bedroom house valued at about Rs 7.34 crore was purchased as a "gift" for her sister Thilagavathy Gangadory.

The woman is in legal trouble after Cryptocurrency.com obtained a court order to recover the money.

What would you do if you find your bank account has suddenly been credited with money worth a fortune? Well, you may lose your mind or you may try to get to the bottom of it. However, what is not recommended is to start spending the money or you might end up in a mess like Melbourne resident Thevamanogari Manivel.

According to The Mirror, when processing a refund of 100 Australian Dollars (Rs 8000), the cryptocurrency trading platform Crypto.com erroneously transferred 10.5 million Australian Dollars (Rs 57 crore) to Manivel’s account. Surprisingly the company remained unaware of the blunder for seven months, until the goof up was noticed in an audit. However, during this period Manivel found ample time to live the life of her dreams with the money, without even questioning how such a huge sum of money got credited to her account.

After receiving the money, Manivel was overjoyed and transferred the remaining funds to other accounts after spending a sizable sum on a house. A five-bedroom house valued at about Rs 7.34 crore was purchased as a “gift” for her sister Thilagavathy Gangadory. Six additional people, including her sister and kids, split the remaining money. However, her good fortune lasted for just seven months until Crypto.com realised the erroneous transaction in December last year and decided to take legal action since Maivel had failed to report the transaction.

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In February, the company was granted permission to freeze Manivel’s Commonwealth Bank account after filing a lawsuit in the Victorian Supreme Court. However, most of the money had already been moved to other accounts, which were also subsequently frozen.

James Elliott of the Victorian Supreme Court ordered the cash be paid back after the property was sold with an additional 10 percent interest and legal fees.

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first published:September 03, 2022, 10:43 IST
last updated:September 03, 2022, 10:43 IST