Cryptocurrency company accidentally transfers $10.5m to Australian woman and doesn’t notice for seven months

Thevamanogari Manivel used money to buy Melbourne property before supreme court granted freeze on her bank account

Cryptocurrency trading platform accidentally transferred $10.5m to an Australian woman when processing a $100 refund, and failed to notice the error for seven months.

The company – which paid Hollywood star Matt Damon to feature in a Super Bowl commercial with the slogan “fortune favours the brave” – discovered it had accidentally transferred the fortune to Melbourne woman Thevamanogari Manivel in December 2021, seven months after the error was made., which operates as Foris GFS in Australia, had paid out $10.5m instead of a $100 refund after Manivel’s account number was accidentally entered into the payment amount field.

The company launched legal action in the Victorian supreme court this year, and in February was granted a freeze on Manivel’s Commonwealth Bank account, but most of the money had been transferred to other accounts – which were later frozen.

The court heard that $1.35m of the money had been used to buy a four-bedroom home in Craigieburn in Melbourne’s north in February, and the ownership of the property was then transferred into the name of Manivel’s sister, Thilagavathy Gangadory, who lives in Malaysia.

Attempts to serve Gangadory the freezing orders were unsuccessful, as she never responded to emails from’s solicitors. The only communication provided to the court was an email reply to Manivel’s solicitors saying “received, thank you”.

Manivel’s solicitors informed that Gangadory was “seeking legal advice”, the court heard.

As a result, a default judgment was awarded to to force Gangadory to sell the property as soon as possible, with the money to go to, as well as interest in the amount of $27,369.64 and costs. declined to comment on the case while it was before the court.

In June, said it was sacking 260 of its employees due to the cryptocurrency market downturn. But the Verge reported the company had quietly laid off many more , and not told other staff.

The downturn in the cryptocurrency market came just months after the AFL announced a five-year partnership with to become the “official cryptocurrency exchange and trading platform for the AFL and the AFLW”. said in May that it remained fully committed to the deal.

“We are well financed, and these are multiyear contracts, which will continue to play a crucial role in our mission to accelerate the world’s transition to cryptocurrency,” a spokesperson said.


Josh Taylor

The GuardianTramp

Related Content

Article image
AFL ‘corrupting the sport’ through deal with cryptocurrency trading company, says Tim Costello
League has ‘utterly immoral form’ on ‘chipping away at the integrity of the sport’, gambling reform campaigner says

Tory Shepherd

18, Jan, 2022 @8:45 AM

Article image
Victoria police apparently breached internal guidelines regarding complaints made by Danielle Laidley
Force fails to follow own policy by not completing investigations into former AFL great’s complaints on time or notifying when finalised

Nino Bucci

27, Oct, 2022 @11:30 PM

Article image
Critics of ‘hostile’ Myki say Melbourne doesn’t need a world-beating system – just one that works
Tap-and-pay card outdated compared with more innovative transport systems that integrate credit cards and smartphones

Elias Visontay Transport and urban affairs reporter

30, Dec, 2022 @2:00 PM

Article image
AFL grand final: Sydney Swans fans fork out up to $1,781 to fly to Melbourne
Prices soar for direct return flights to see match against Geelong Cats a week after Collingwood diehards made the pilgrimage to Sydney

Caitlin Cassidy

20, Sep, 2022 @6:40 AM

Article image
Cryptocurrency exchange Swyftx axes 90 jobs with CEO blaming aftershocks of FTX collapse
Company expects further significant drops in trade and ‘the potential for more black swan-type events’

Josh Taylor

05, Dec, 2022 @7:16 AM

Article image
Victoria reimposes coronavirus restrictions after highest number of new cases in months
Premier Daniel Andrews pushes back plans to open pubs, restaurants and other venues to more people to stop a second wave

Lisa Cox and Calla Wahlquist

20, Jun, 2020 @7:41 AM

Article image
Henrietta Augusta Dugdale: Australian suffragist honoured by Google
Pioneering feminist founded country’s first female suffragist society and called for equal rights for women

Melissa Davey

13, Apr, 2017 @1:55 AM

Article image
Australian woman Elly Warren killed while travelling in Mozambique
Family of Melbourne woman say they received a phone call saying the 20-year-old had been murdered while on a diving trip

Guardian staff and agencies

10, Nov, 2016 @4:08 AM

Article image
Melbourne woman ‘dehumanised’ by viral TikTok filmed without her consent
Maree describes being given flowers by Harrison Pawluk in a ‘random act of kindness’ video as ‘patronising’

Rafqa Touma

14, Jul, 2022 @7:33 AM

Article image
Australian workers lost $47bn in wages during first eight months of Covid recession, study says
A survey by ANU shows workers born overseas and older Australians bore the brunt of cuts to hours compared with other groups

Paul Karp

09, Nov, 2020 @4:30 PM