Crypto.com recently filed legal documents dated as follows: July 7To recover $50,000 in erroneous transactions and over $26,000 in additional funds as a result
The case centers around James Deutero McJunkins Jr., a Georgia-based Crypto.com user who allegedly accidentally received $50,000 into his Crypto.com account on June 24, 2022. has expanded to
McJunkins transferred these funds to his bank account on the day of deposit. Crypto.com requested the return of funds from McJunkins several times, but he refused to do so, prompting arbitration proceedings. The company filed claims under Florida law, including breach of contract and civil theft. § 772.11, Unjust Enrichment, and Conversion.
Crypto.com received an arbitration award at the end of the process. This result required McJunkins to pay $76,391.46 to Crypto.com within 30 days of the award’s issuance. However, McJunkins failed to meet this obligation, leading the company to seek confirmation from the court through its latest legal filing.
The application states that fraud, unfairness, misconduct, abuse of power, miscalculation, or other issues in the arbitration proceedings may result in the cancellation or modification of the arbitration award. However, Crypto.com said these factors were not at work, noting that McJunkins did not respond to or contest the arbitration award.
The $76,391.46 awarded is the sum of actual damages of $50,000, statutory interest of $1,786.11, attorney fees of $21,205.35, and arbitration costs of $3,400.
Crypto.com Addressed Another Big Error in 2022
Crypto.com dealt with another erroneous transaction at the end of 2022, less than a year later. The cryptocurrency company paid over $10 million to its users instead of the roughly $100 they should have actually paid. Affected users have also been charged with theft and forced to return most of their funds.
These cases are a reminder that accepting large and erroneous transactions can have legal repercussions, even if those transactions involve cryptocurrencies.
Crypto.com’s post seeking recovery of $76,000 in connection with transaction errors first appeared on CryptoSlate.