Crypto.com Accidentally Sends Woman $7 Million

Crypto.com has won a lawsuit against a Melbourne woman after accidentally sending her the equivalent of around USD 7 million by mistake. Recovering the cash won't be easy - especially since it took the brain geniuses at the company many months to figure out they sent her all that money in the first place.

"The plaintiffs, according to the Australian Herald Sun, who broke the story of the suit, were unaware of this mistake until seven months later, in December 2021.", found judge James Dudley Elliott. He sits on Victoria's Supreme Court.

Misplaced

Before the cryptosphere crashed - months before the exchange purchased the Staples Center for $700 million in November 2021, the exchange committed the monumental error.

The woman in question, meanwhile, had made a refund request for about $68 from the exchange, only to discover shortly after that the platform had deposited the many millions into her account.

She had already bought a luxury home for her sister, given more to her daughter, and moved most of the rest into a joint account when Crypto.com discovered its mistake. As a result, Crypto. com filed its lawsuit in February, and the sisters, after failing to appear in court, were ordered to sell their mansion and repay the exchange - plus tens of thousands in interest. In October, the trial will resume.

Yes, the woman who received the mistaken transactions was almost certainly aware of Crypto.com's error. A similar mistake - sending assets to the wrong blockchain wallet, for example - has plagued many a crypto user who has rarely, if ever, recovered money due to so-called "decentralized," unregulated crypto platforms.