Here are some of the major points that this article will be talking about.
- A crypto firm (Crypto.com) fronted by Matt Damon mistakenly transferred the sum of 10.5 million dollars instead of a 100-dollar refund and is now struggling to get it back.
- The crypto firm did not realize this mistake until after seven months and has launched legal action this year.
- The Australian woman has spent over one million dollars from the money on a four-bedroom mansion in Cragieburn, Melbourne.
- The Court has given a default verdict in favor of the crypto firm without a clear response.
All you need to know
As stated above, a crypto firm called Crypto.com mistakenly sent 10.5 million dollars to an Australian woman’s account instead of the 100 dollars refund she was supposed to receive. This crypto firm did not realize this mistake until seven months later, and as expected, the money is proving extremely difficult to get back from the woman.
The 10.5 million dollars was supposed to go to the account of the Hollywood megastar Matt Damon. In December 2021, the cryptocurrency exchange platform hired Matt Damon to be the star of their recent Super Bowl commercial. They later found that the millions of dollars had gone to Thevamanogari Manivel’s account (the Australian woman) in Melbourne – the woman requested a small refund in May of that year.
The crypto firm (Crypto.com) is known as Foris GFS in Australia, and they took legal action against the woman this year. Instead of the admin officials entering the refund amount into the payment field, they entered her account number, and that is where the problem began. Through this, they were able to freeze Manivel’s account. Unfortunately for them, most of the money in her account had already been spent or transferred to other accounts.
The court heard that the woman had spent most of the money for different purposes – they found out that she had used 1.35 million dollars out of the 10.5 million dollars to purchase a four-bedroom mansion on Cragieburn, Melbourne. They also found out that she had transferred the ownership of the property to Manivel’s sister – Thilavagathy Gagadory – who lives in Malaysia.
The courts had no choice but to give default decision
The courts have been forced to give default verdict as all efforts to freeze the woman’s accounts have proven to be futile. All the efforts of Crypto.com’s solicitors to get in touch with Thevamanogari Manivel have also been unsuccessful. An email was sent to Manivel’s solicitors on the issue, but it was responded to with a “received, thanks.” They later claimed that she was seeking legal advice on what to do.
Due to no understandable response, the Court (Victoria Supreme) had no other choice but to give a default verdict in favor of the crypto firm, Crypto.com. The ruling states that the cryptocurrency exchange platform may force the 1.35 million dollar property to be sold as soon as possible. Also, the Australian woman now owes an interest of $27,369.64. The crypto firm refused to make any comments while the case is still in court, so there is no comment from their end.
What is your view on the whole situation with all that is written above? Do you think that the court gave a fair judgment? I think it is safe to say that the crypto firm made a terrible mistake, but the woman should have reported it immediately.