We sometimes hear about mistakes with money transfers in the news. Recently, Crypto made a big mistake and accidentally sent 320,000 Ether to another cryptocurrency exchange called Gate. This was because they sent it to the wrong address by accident.
Before the mistake, Crypto’s CEO had made their cold wallet address public to show how they were using their funds. One user later noticed that Crypto had sent 320,000 Ether to Gate, which was most of what they owned.
After the mistake, Crypto was able to get back all of the assets transferred in error. They did this by transferring 285,000 Ether worth 2.463 billion yuan to one wallet, and 35,000 Ether worth 302 million yuan to another.
Gate realized their mistake and started returning the funds. Fortunately, Crypto was able to get their money back this time, but they also made another mistake in August. They were supposed to refund $68, but ended up transferring $7.2 million by accident. They are now asking the user to return the extra money.