Couple mistakenly given $10.5m from Crypto.com thought they had won competition, court hears | Cryptocurrencies

A Victorian woman accused of stealing over $10.5 million in mistaken cryptocurrency refunds has been released on bail while awaiting trial, despite claims she tried to flee the country.

Thevamanogari Manivel and her partner, Jatinder Singh, appeared via video link from prison in the Melbourne magistrates court on Tuesday as they were committed to stand trial on theft and other charges.

In May 2021, Crypto.com intended to refund Manivel $100, but she was mistakenly transferred $10.47m. The company did not notice the error until an inspection was carried out in December.

A worker in Bulgaria, who processed the refund, had entered the wrong numbers into an Excel spreadsheet, Michi Chan Fores, a compliance officer for Crypto.com, told the court.

After processing, she said the refund request was sent to a payment provider in Australia, which then transferred the money to Manivel’s Commonwealth Bank account.

The Crypto.com account was in Singh’s name, but the transfer may have been sent to Manivel’s account when he used her bank card to buy cryptocurrency, the court heard.

Singh allegedly thought he won the money after being sent a message from the Crypto.com app about a contest. This was also what he told Manivel.

However, Fores claimed there was no such contest and said Crypto.com did not send push notifications to tell users about contest wins.

The money was allegedly used to buy four houses while $4 million was transferred to a Malaysian bank account. The rest paid for gifts, vehicles, art and furniture, the court heard.

Most of the money has since been repaid, but about $3 million remains outstanding, with civil lawsuits underway to freeze the properties and recover money from relatives.

Manivel pleaded not guilty to three charges, including theft from the Commonwealth Bank for withdrawing the money and negligently handling the proceeds of crime.

She was arrested at Melbourne airport in March while allegedly trying to fly home to Malaysia on a one-way ticket with about $11,000 in cash – which amounts to another charge.

Singh pleaded not guilty to charges including theft for withdrawing the Crypto.com money from the bank.

Manivel’s lawyer, Jessica Willard, applied for her client to be released on bail with a $10,000 bond from her brother.

She said Manivel did not know there were allegations against her when she tried to fly home to see her ex-husband and children.

Manivel has been in custody since her arrest more than six months ago and faced another year behind bars before her trial begins, Willard claimed.

Prosecutors opposed bail on the grounds that Manivel was a flight risk and her release could prevent recovery of outstanding monies.

Magistrate Peter Reardon granted Manivel bail on strict conditions, including that she surrender her passport and cannot attend any departure points.

Manivel and Singh will appear in court in the county court on November 8.