A translation error resulted in the loss of 7 million euros to Crypto.com, which is appealing to justice to return them. With the money received, the beneficiary has already bought a luxurious house.
Dumplings! Renowned cryptocurrency exchange Crypto.com mistakenly transferred the equivalent of €7.17 million (AU$10.5 million) to an Australian client who expected to receive only €70 (AU$100) after the refund procedure. The reason for the misunderstanding is a human error when an employee entered the account number in the field dedicated to the amount of the bank transfer.
The transfer was made in May 2021, and only seven months later, in December 2021, as a result of an internal audit, Crypto.com realized the error. The cryptocurrency buying and selling service now intends to return the money paid to this client. After refusing to refund the overpayment, the Singaporean company filed a complaint against the user and her sister, who had already spent part of the money recovered in this way, in particular, to buy a house worth almost a million euros (1.35 million Australian dollars). .
Crypto.com won the case
The Supreme Court of Victoria agreed with Crypto.com and ruled to sell the house and return all the proceeds to the exchanger. “There is no doubt that if you saw this in your account, you would know that it should not be there, and it is your responsibility to contact the sender to inform him of this,” commented Henderson and Ball’s lawyer Justin Lawrence. . Crypto.com with local media 7News.
“If you are holding someone else’s property, you are actually holding the property by deceit, you have no right to it, you must return it,” he added. If he won the first lawsuits on behalf of his client, he will have to return to court in October to continue the case.