03-21-2023, 12:47 PM
#1

User Accused of Spending $6.95 Million Mistransferred by Crypto.com Has Been Released on Bail

User Jatinder Singh, who was previously charged with spending $6.95 million (A$10.4 million) from Crypto.com, has been released on bail, CoinTelegraph reported. In 2021, Crypto.com mistakenly transferred US$6.95 million (A$10.4 million) to an Australian user instead of the original refund of A$100. Crypto.com only discovered this wrong transaction during its annual audit in December 2021. Crypto.com has previously launched civil proceedings in the Supreme Court of Victoria to recover damages. Following the proceedings, the Supreme Court of Victoria ruled that Jatinder Singh must return the funds to the company. The defendants used the funds to purchase four homes and a car, as well as to send some overseas. Crypto.com recovered only $4.9 million. Neither Jatinder Singh nor his partner Thevamanogari Manivel pleaded guilty.
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