Crypto Exchange Sues Woman to Get Back $7.2 Million It Sent Her Accidentally

Thomas Smith
Photo by Aleksi Räisä on Unsplash

Bank error in your favor, collect $7.2 million? That’s apparently what Thevamanogari Manivel of Australia allegedly thought when, a popular cryptocurrency exchange, accidentally deposited $10.5 million AUD (about $7.2 million) into her account.

It turns out the money wasn’t intended to go to her at all. Manivel was owed a refund of $100, but a staff member at the crypto exchange reportedly entered her account number into the Amount Due field while processing the refund. This resulted in the mistaken transfer. apparently didn’t even notice its error for about a year until a routine audit revealed what had gone wrong.

Now, the exchange wants its money back, and is suing Manivel to retrieve it. 

The trouble is, Manivel already allegedly spent a nice chunk of that money. She reportedly used it to buy a luxury home for her sister. (That part of the story is actually kind of sweet.)

Still, it’s bad news for Manivel and her very lucky sister. An Australian court has ordered her to sell the home and pay back the funds to with interest.

Finders keepers, it turns out, isn’t part of the legal code. If you mistakenly receive money, you’re required to give it back. If you don’t do so, you could end up owning penalties or even get hit with criminal charges.

A Georgia couple, for example, ended up being criminally convicted of theft when they spent $120,000 that was mistakenly deposited to their bank account.

With crypto prices tanking, there’s a certain irony to an exchange suing a woman to get their money back, when lots of people have lost their life savings investing in cryptocurrency.

How would you handle it if you got a big, unexpected deposit in your bank account? Did you know that keeping the money could subject you to criminal charges? Let me know in the comments, and please share this article with a friend.

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Award-winning entrepreneur, and the co-founder and CEO of Gado Images. Thomas writes, speaks and consults about artificial intelligence, privacy, food, photography, tech, and the San Francisco Bay Area. As a professional photographer, Thomas' photographic work regularly appears in publications worldwide. Pitches/news tips:

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