Woman Buys Mansion After Accidental $6.5M Crypto Transfer

Cryptocurrency has become a popular investment option for many individuals, offering the potential for significant returns. However, with great reward comes great risk, as one woman recently discovered. In a bizarre turn of events, a woman found herself the owner of a multi-million dollar mansion after an accidental crypto transfer of $6.5 million in cryptocurrency. But, how did this happen?

This Woman Didn’t Hesitate After an Accidental Crypto Transfer

In May 2021, a woman named Thevamanogari Manivel in Australia received an accidental transfer of $10.5 million AUD (£6.25m) from the cryptocurrency exchange Crypto.com. The transfer was meant to be a $100 refund but was sent in error. However, the mistake wasn’t discovered until seven months later during an audit by Crypto.com. By then, Ms. Manivel had already transferred the funds to another account jointly held with her sister, Thilagavathy Gangadory, according to court documents.

Thevamanogari Manivel received a staggering AU$10 million ($6.5 million) from Crypto.com, mistakenly sent instead of an AU$100 (US $65m) rebate. She spent large sums on a new home and transferred AU$4 million ($2.5 million) to accounts in Malaysia. Manivel claimed she believed her partner had won the money in a competition. The error occurred when a Crypto.com staff member mistakenly entered an account number instead of the rebate amount. When the company realized the mistake months later, Manivel had already spent significant portions of the funds.

What Happened Afterwards?

The barrister for Thevamanogari Manivel, Jessica Willard, disclosed that Jatinder Singh had informed the police that he had won the money. Willard emphasized the key issue regarding Manivel’s case was whether she was aware the money was stolen. Representatives from the Commonwealth Bank stated that both Manivel and Singh were informed it was an error. Manivel had previously pleaded guilty to recklessly dealing with the proceeds of crime and was sentenced to an 18-month community corrections order, along with six months of community work. Judge Martine Marich noted that no malicious intent was evident until the Commonwealth Bank alerted Manivel of the mistake.

The Judge’s Decision on the Accidental Crypto Transfer

Judge Martine Marich characterized Thevamanogari Manivel’s behavior as cynical and motivated by self-interest. She noted that Manivel’s actions represented a shortcut to her financial goals, despite her previous hard work. Marich emphasized the seriousness of Manivel’s offense, which involved dispersing $4 million after being warned about possessing the victim’s property due to a mistake. While most of the mistakenly deposited $10 million had been recovered, Marich described Manivel’s actions as opportunistic, arising from the extraordinary circumstances of unexpectedly receiving such a large sum of money.

What would you do if you got an accidental crypto transfer?

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