In a case that reads like fiction, Thevamanogari Manivel—a disability support worker in Melbourne—received a startling surprise in May 2021. Expecting a simple $100 refund from Crypto.com, she instead got an astonishing deposit: A$10.5 million. What followed was a whirlwind of legal, ethical, and reputational fallout that still resonates today.
A $100 Refund Gone Terribly Wrong
Crypto.com intended to refund Manivel A$100 in May 2021. However, due to a clerical mistake—an employee entered her bank account number into the transfer amount field—she received A$10.5 million instead. The error wasn’t noticed until a routine audit flagged it seven months later, in December 2021.
Spending Spree in Suburbia
Once the funds cleared, Manivel transferred the money into a joint account with her partner, Jatinder Singh. Soon after, the couple splurged, purchasing a luxury five-bedroom home in Craigieburn for A$1.35 million and sending large sums overseas—including A$4 million to Malaysia—along with buying cars, art, furniture, and even gifting A$1 million to a friend. What began as an innocent refund quickly escalated into an extravagant lifestyle spike.
Crypto.com Hits Back
Crypto.com, ( Foris GFS with it’s largest international location of operations), took action as soon as its mistake became known. They froze Manivel’s Commonwealth Bank account in early 2022, and filed suit, claiming the amounts had been mistakenly paid to him and they had a right to the funds. In August 2022, the Supreme Court of Victoria, decided in Crypto.com’s favour, ordered the sale of the house at Craigieburn, ordered the sale proceeds to be returned to Crypto.com with interest and costs. The Court seemed annoyed with Crypto.com although ultimately found Manivel had no lawful rights to those funds.
The Flight That Failed
After the legal pressure increased, Manivel and Singh attempted to flee Australia. In March 2022, they were intercepted at Melbourne Airport with one-way flights to Malaysia and approximately A$11,000 in cash. Whether the authorities had acted sooner remains unknown, but Manivel was arrested and ultimately charged with criminal offenses that compounded their position.
Guilty Pleas and Sentencing
In September 2023, the Victorian County Court delivered its sentences. Manivel admitted to “recklessly dealing with proceeds of crime”. She received an 18-month community corrections order and 200 hours of community service—time already counted as served. Singh, meanwhile, pleaded guilty to theft for using around A$6.07 million. He was sentenced to three years in jail, with eligibility for parole after serving two years.
Lessons for Crypto and Financial Institutions
Crypto.com’s handling of the incident drew heavy criticism. The seven month delay in identifying the error demonstrated real weaknesses in the areas of both monitoring transactions and audit trails. The company was reassuring it would work on its security; however, damage was done in terms of reputation and law.
Final Thoughts
This saga highlights the importance of internal controls on current financial platforms. One little accounting mistake spiraled into a multinational legal saga, costing the world millions in public trust, and individuals involved, criminal cases. For consumers and companies alike this is a reminder of the this lesson of all time: if it looks too good to be True, it probably is.
