Crypto.com, a currency exchange, mistakenly deposited $10.5 million directly into a woman’s bank account instead of the $100 it had intended.
The exchange now wants its money back.
7news in Australia reported a Melbourne woman received $100 million back in May 2021. And it was not until December 2021 before Crypto.com discovered its error.
Thevamanogari Manivel is the woman being sued by Crypto.com to get their money back.
Manivel used almost $1.5 million to purchase a house for her sister Thilagavathy Gangadory in Craigieburn, Australia.
Based on legal proceedings, Crypto.com sued both sisters and the home has been ordered to be sold.
Isn’t one of the main points of crypto is decentralization and the removal of the middle man, which is why when making transactions you are told to be very careful of what you are sending because it can’t be undone.
How does Crypto.com get to get their money back if she doesn’t want to give it?
Under American law, Crypto.com would have a legal basis for the return of the money. Crypto is supposed to come with more individual responsibility, so why isn’t this applying under these conditions. Would Crypto.com had given back a customer’s money who over paid another customer? If so, then crypto.com is nothing more than a bank.
In October 2021 when evidently Crypto.com wasn’t paying attention that $100 million had left its account, it released a commercial featuring Matt Damon titled “Fortune Favors the Brave. However, after the ad’s debut, bitcoin prices have dropped nearly 70% and Ethereum prices have been slashed in half.
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La Shon Y. Fleming Bruce a/k/a SHONSPEAKS is a blogger, certified brain health specialist, futurist, speaker, and lead creator of freeyourthinkingmind.com. I am also a lawyer and managing member of The Fleming-Bruce Law Firm, P.L.L.C. If you want to check out more of my writings that may not be released on this site, go over to my website at freeyourthinkingmind.com
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