The Morning After: Crypto.com refunded someone $7.2 million by mistake
If you ever want a reminder of how hard it is to run a financial institution, check out this unfortunate error made by Crypto.com. It accidentally refunded one of its customers around $7.2 million, rather than the $68 she was expecting. Even worse, the company didn’t discover the expensive snafu until nearly seven months after the transfer. Given the basic tenets of crypto-libertarianism and its philosophical resentment of institutions, you might have expected the site to just write-off the loss. But the platform has instead gone to the courts to get the cash back, forcing the woman to return it, with interest.
– Daniel Cooper
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If you ever want a reminder of how hard it is to run a financial institution, check out this unfortunate error made by Crypto.com. It accidentally refunded one of its customers around $7.2 million, rather than the $68 she was expecting. Even worse, the company didn’t discover the expensive snafu…
