Crypto.com, a cryptocurrency exchange sponsored by the Los Angeles Lakers arena and endorsed by Matt Damon, sent an Australian customer $10.5 million AUD ($7.2 million USD) instead of the usual $100 AUD ($68 USD) due to a typo. Seven months later, after some of the money had already disappeared, the exchange finally realized there had been a mistake, according to Australian news outlet 7News (via).
In May of 2021, a transfer was made after a worker entered an incorrect account number in the payment amount field. This error wasn't uncovered until December 2021, when Crypto.com conducted an audit.
Thevamanogari Manivel, the customer in question, allegedly did not notify Crypto.com of the mistaken refund and instead used the money to buy a lavish five-bedroom home for her sister for $1.3 million AUD ($890,526 USD).
The company has filed suit in Victoria Supreme Court in an effort to recover its lost funds. According to, Manivel's account was successfully frozen by Crypto.com in February. The court also mandated that Manivel sell the property and return the proceeds to the exchange, along with interest. Crypto.com did not want to comment before the case resumes in court in October.
It seems that exchanges are losing money not just because of the crypto winter, but also because of simple human error. This week, a developer for the decentralized exchange OptiFi lost $661,000. This was due to a fatal "solana program close" command that shut down the entire program powering the exchange. The conversation has highlighted the need for a cautionary prompt when it is used.