Crypto.com accidentally transfers $10.5m to woman instead of $100

Why is crypto.com able to retrieve their funds in this case, but crypto hacks around the world result in customers being told there&#x27;s no recourse? Doesn&#x27;t appear crypto.com paid back the $34M that was stolen from customers in the hack a few months back.<p>The crypto crowd sure like regulations at the most unexpected times.

They have to sell the property and send the $10m back?<p>I don&#x27;t get that. Surely there is ground for &quot;the mistake is yours, the money is gone&quot; approach? Wouldn&#x27;t you fight this, since it happened 9 months later?<p>I understand they&#x27;re free riding the cash, but they didn&#x27;t make the mistake. So in my mind, they didn&#x27;t steal the money?<p>Let me put it this way... if it were $1,000 over $100 instead of $10M, would they go so hard after the money? I&#x27;m pretty sure that whatever contract they signed with crypto.com didn&#x27;t say repay us if we overpay you during a refund...

How could one benefit from an error like this and escape with all the money? Transfer to an offshore account and head to a country with no extradition to Australia? Would that work?<p>Asking for a friend.

Did it take 7 months for them to notice <i>or</i> did it take 7 months of declining crypto prices and valuations for $10.5 million to be worth the hit to their reputation.

Fortune Favors the Brave

if it took them seven months to realize their mistake, it&#x27;s their fault.<p>if the money was important to them they would have discovered their error much sooner; before the money even left their hands.<p>crypto companies are comprised of infants crawling around the floor drooling on things while wearing tailored suits and carrying mobile phones.

More info at <a href="https:&#x2F;&#x2F;arstechnica.com&#x2F;tech-policy&#x2F;2022&#x2F;08&#x2F;crypto-firm-tries-to-seize-luxury-home-after-accidentally-sending-sisters-10m&#x2F;" rel="nofollow">https:&#x2F;&#x2F;arstechnica.com&#x2F;tech-policy&#x2F;2022&#x2F;08&#x2F;crypto-firm-trie...</a><p>The recipient, Thevamanogari Manivel, didn’t notify Crypto.com, instead allegedly transferring funds to bank accounts held by her and her family. Crypto.com claims Manivel used the money to buy her sister Thilagavathy Gangadory a modern $1.35M house, complete with a home gym and theater.

Does Australia have no property tax? In what Earth do you sink a one-time $10.5m payment into a house you can&#x27;t maintain? Perhaps I am missing something very fundamental here. I can think of much better uses for those funds anyway.

Is there a need to explain where the funds to buy a house came from in Australia? Or do they just explain it away as crypto gains?

Lack of controls and auditing is the real news. How do you not notice $10m dollars missing? Is there anyone reviewing refunds?

What I find amusing is that they paid her an amount of money equal to her <i>account number</i>. Lucky for them crypto.com hasn&#x27;t been around that long. My bank account has 10 digits.

Oh the irony.

A shame there&#x27;s no reconciliation ability on the blockchain.

Does this qualify as a crypto joyride?

Oh no!