Crypto Chaos: When a $100 Deposit Turned into $10 Million
Aug 6, 2024

Sam

Hey Amy, did you hear about that crazy story with Crypto.com? Someone got $10 million by mistake!

Amy

Yes, I did! It's a pretty wild situation. A couple tried to deposit $100, but due to an error, they received $10 million instead.

Sam

Wow, that's a huge mistake! What happened next? Did they get to keep the money?

Amy

Not quite. They spent a lot of it before Crypto.com found out. They bought houses, land, and even gave some to a friend. But it turns out that was illegal.

Sam

Oh no! So they got in trouble for spending money that wasn't theirs?

Amy

Exactly. The man, Jatinder Singh, said he thought they won a raffle. But the court didn't believe that. Both he and his partner, Thevamanogari Manivel, faced legal consequences.

Sam

That's scary! I guess if something seems too good to be true, it probably is. What happened to them?

Amy

Well, Singh pleaded guilty to theft. Manivel tried to flee to Malaysia but was caught at the airport. She spent some time in jail and now has to do community service.

Sam

Yikes! I never thought about what would happen if a bank or crypto company made a mistake like that. It's tempting to think about spending all that money!

Amy

I know, right? But it's important to remember that even if it's not your mistake, spending money that isn't yours is still wrong and can get you in big trouble.

Sam

For sure. I guess Crypto.com must have been pretty upset about losing all that money.

Amy

They were. They've been trying to get the money back through legal action. They managed to recover most of what was spent in Australia, but there's still about $4 million missing in Malaysia.

Sam

This whole thing makes me nervous about using crypto. What if something like this happened to me?

Amy

It's a good reminder to always double-check your transactions. If you ever receive a large sum of money unexpectedly, it's best to report it right away rather than spending it.

Sam

That makes sense. I'll definitely be more careful with my money from now on, especially with crypto stuff. It seems like small mistakes can turn into big problems!

Amy

Absolutely. It's all about being responsible and honest with money, whether it's cash or cryptocurrency. This story is a big wake-up call for everyone in the crypto world.

Sam

Thanks for explaining all this, Amy. It's pretty eye-opening!