Crypto.com has filed a petition in a Florida court to recover $50,000 mistakenly sent to the account of one of its clients. Despite attempts to recover the funds from the client, contacted on multiple occasions, the company failed to recover them, which led it to initiate legal proceedings.
Crypto.com mistakenly sends $50,000
Cryptocurrency exchange Crypto.com filed a petition in a Florida court on July 7 in order to recover $50,000 that he himself had deposited into the account of one of his clients by mistake. The deposit would have been made on June 24, 2022, and the person concerned would have transferred the entire sum the same day to his personal bank account.
Crypto.com reportedly demanded the Georgian resident return the funds multiple times, but his attempts were reportedly never successful. The company therefore ended up using a lawyer to try to recover the funds transmitted by mistake.
In doing so, Crypto.com has requested that the dispute be settled by arbitration, and finally got it right last April. The arbitrator effectively asked the person concerned to reimburse the $50,000 owed to Crypto.com, but also an additional $26,390 in compensation for the various legal and attorney fees incurred.
Nevertheless, the Crypto.com client did not respond to the complaint filed against him and did not even contest it, which is why the case has just been transferred to court. Indeed, arbitration procedures do not allow anyone to be forced to pay an amount due to the winning party.
Thus, via its latest request filed in court, Crypto.com asks justice to “ uphold the referee’s decision and enter final judgment in his favor and against McJunkins [le nom de son client, NDLR] “.
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Crypto.com customary of the fact
Although this error may seem quite crazy, Crypto.com is not at its first attempt: in May 2021, the cryptocurrency exchange platform mistakenly sent more than 10.5 million dollars to the account of a couple, and would not have realized it until 7 months later. The couple, believing it to be a prize offered by Crypto.com, spent most of the funds and a lawsuit is pending.
The reason, silly as it was, had cost the exchange dearly. A Crypto.com employee had simply entered the customers’ account number in the “payment” tab of the transfer, which then corresponded to 10474143, the amount paid in error.
And that’s not all: we revealed last November that Crypto.com Sent 320,000 ETH to Gate.io Exchange by Mistake… That’s About $410 Million at the Time. Fortunately, the money was quickly recovered by the platform, which later claimed that it had ” strengthened its process and systems to better manage these transfers “.
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Source: Blockworks
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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