Australian prosecutors are advocating a jail term for a Crypto.com user who accidentally received nearly $7 million in erroneous refunds and spent most of it before the exchange discovered an internal error three years ago.
In May 2021, Crypto com sent $6.86 million (A$10.47 million) to Australian couple Thevamanogari Manivel and Jatinder Singh instead of a $100 refund after an employee allegedly entered an account number into the payment section of an Excel spreadsheet.
However, the exchange detected that the bank account did not match the exchange account. So, the exchange issued a refund, but instead of returning the $100 that the couple tried to deposit, the exchange mistakenly transferred $10.5 million to Maniville's bank account.
Just seven months later, Singh had already purchased multiple homes and gifted $1 million to friends when the exchange discovered the error during an internal audit in December 2021. He claimed he thought he had won an "online raffle".
