this post was submitted on 07 Feb 2023
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Bitcoin

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Bitcoin is an open source peer-to-peer system developed by Satoshi Nakamoto that aims to provide electronic cash. The system has no central server or trusted parties.[1] Bitcoin relies on cryptographic principles to create unique, unreproducible, and divisible tokens. Users hold the cryptographic keys to their own tokens and transact directly with each other, with the help of the network to check for double-spending

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Crypto.com Mistakenly Transfers $7 Million To Australian Woman In Refund Blunder (www.zerohedge.com)
submitted 2 years ago by c0mmando@links.hackliberty.org to c/bitcoin@links.hackliberty.org
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cross-posted from: https://community.hackliberty.org/post/2978

A Melbourne woman received quite the surprise when she discovered that nearly AU$10.5 million ($7.2 million) was accidentally deposited into her bank account by the digital currency app Crypto.com.

The Singapore-based company discovered during a December audit that it had mistakenly refunded AU$10.47 million to Thevamanogari Manivel in May 2021, when it was attempting to issue a refund of just AU$100 ($70).

According to court documents (pdf), the incident happened after an account number was accidentally entered into the payment amount field by an employee instead of the AU$100 amount.

However, the mistake was not realized by the company until months later by which time Manivel, with some help from her sister, Thilagavathy Gangadory, had already gone on quite a spending spree.

She also failed to notify Crypto.com of the mistake.

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