Crypto.com has renamed the famous Staples Center arena in Los Angeles
Few illustrate the wastefulness that befell crypto exchange Crypto.com last year like a trite accounting story from Australia. The company sent one client there exactly 10.5 million dollars instead of one hundred dollars. And no one noticed it for three quarters of a year. Now the case is being resolved by the courts, because the surprised lucky woman does not have much time to return the money.
It all started very banally. Last May, at the time of the accelerating cryptocurrency fever, an Australian woman named Thevamanogari Manivel requested a withdrawal of one hundred dollars from her account on Crypto.com, one of the largest and last year also the most aggressively growing crypto exchanges in the world.
But to her surprise, a sum a hundred thousand times higher landed in her bank account, namely 10.5 million dollars (in Czech crowns, that’s a quarter of a billion). The fact that she suddenly had real wealth at her disposal without having earned it, but Manivelova didn’t worry, on the contrary: she started enjoying it properly, she didn’t give anything back.
“Manivelova diverted $10.1 million to her and her sister’s joint account. In February of this year, funds were withdrawn from this account to purchase a property in the Craigieburn district for $1.35 million. Apparently, Manivel bought her sister a five-room house as a gift.” Australian server reports 7newswho drew attention to the case.
What is remarkable about the case is that no one noticed the misstep at the company until last December, seven months after the money left Crypto.com’s accounts. It was discovered by accident during an audit at the end of the year. Subsequently, representatives of the company tried to contact the lady, but without success. She bought a luxury house for her sister instead.
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And so Crypto.com’s lawyers went to court this spring, a year after the ill-fated transfer. He already partly proved them right and decided that Manivelová and her sister have to return the money, which does not even formally belong to them. The continuation of the court hearing is scheduled for October, when it will be decided what and how. Either the ladies will sell the property and repay the money, or a court-appointed expert will do it for them.
If last spring ten million could flow through Crypto.com’s accounting like nothing, this year every dollar already counts. The year 2021 was to some extent the year of this Singapore, Malta and Cayman Islands-based stock exchange, which is led by Polish-born manager Kris Marszalek. The company invested heavily in marketing, plastering its logo on, for example, the famous arena in Los Angeles. But this year, when cryptocurrencies have fallen sharply and the market is facing a significant cooling, the company is facing problems and has to lay off, among other things.