Australian Woman Goes on Huge Shopping Spree After Receiving $10.5 Million in Error from Crypto.com
The incident that took place in Australia involving Thevamanogari Manivel and Crypto.com has caught the attention of many around the world. It has sparked a conversation about the responsibility of handling finances and the consequences of not doing so properly.
In 2021, Manivel received $10.5 million in her bank account from Crypto.com, which was an error. Instead of questioning or reporting it to authorities, she went on a shopping spree and spent almost the entire amount. She even went as far as purchasing a home in Melbourne for AUD$1.35 million.
The incident came to light when Crypto.com discovered the mistake in December 2021. Unfortunately, Manivel could not return the funds as she had already spent them. She had purchased the house as a gift for her sister, Thilagavathy Gangadory, and the two had been enjoying their newfound wealth. Manivel also gave a substantial sum to her daughter.
However, the aftermath of her actions resulted in a legal battle. Manivel has now been ordered to sell her home and repay the funds with interest to Crypto.com. Justice James Dudley Elliot stated that the evidence showed Manivel had purchased the property with stolen funds.
According to reports, Crypto.com was supposed to send Manivel AUD$68 but instead sent the millions by mistake. While crypto transactions are not reversible, centralized platforms can attempt to reverse payments if fraud or human error occurs. In this case, Crypto.com won its legal case against Manivel and was able to recover the funds she had spent.
This incident highlights the importance of being responsible when it comes to handling finances, especially when it comes to large sums of money. While it may be tempting to spend money that seems to have landed in one’s lap unexpectedly, it is essential to report any such incidents and act responsibly. The consequences of acting otherwise can be severe, as seen in this case.
Moreover, the incident has also raised questions about the responsibility of Crypto.com in the matter. While they have been able to recover the funds, it brings to light the need for companies to have better mechanisms in place to prevent such errors from occurring. In this case, the mistake could have been avoided if Crypto.com had taken greater care when sending the funds.
Furthermore, Crypto.com itself has had its share of issues in the past. The company laid off 260 employees last June and went through a second round of layoffs as it looked for a way to cut costs with investors by letting go of riskier assets. The company also had a deal to rename the Staples Center in Los Angeles, which shows the extent of their investment in the crypto industry.
In conclusion, the incident involving Manivel and Crypto.com has brought to light the importance of handling finances responsibly. It is crucial to report any such errors and act with integrity when dealing with large sums of money. At the same time, it highlights the need for companies to have better mechanisms in place to prevent such mistakes from happening. It is a reminder that the crypto industry is still in its early stages and that there is still much to be learned as we move forward.
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