Crypto.com sent user $50K by mistake — now wants $76K in return

This isn’t the first time Crypto.com accidentally added more zeros than they intended

article-image

Andrey_Popov/Shutterstock modified by Blockworks

share

Crypto.com has notched a win on Thursday in its arbitration claim against a user who erroneously received $50,000 from the company and refused to return it.

Georgia resident James Deutero McJunkins Jr. signed up for an account with the Singapore-based crypto exchange in May 2020. Two years later on June 24, 2022, Crypto.com “erroneously deposited” $50,000 into his account. 

According to a court filing with the Southern District of Florida, McJunkins transferred that money to an external bank account the same day.

When Crypto.com’s “numerous” pleas to McJunkins to return the money went unanswered, the company ditched its requests and hired counsel.

In April, the arbitrator sided with Crypto.com, saying the respondent now needs to not only return the $50,000 but also needs to pay for the plaintiff’s legal costs. 

The total amount the arbitrator told McJunkins to pay is $76,391.46, though he has once again declined to do so. In fact, he failed to respond to or dispute the claim against him at all, according to the filing.

A judge was assigned to the case on Friday because arbitrators don’t have the authority to force people to pay the winning party, according to the American Arbitration Association.

This isn’t the first time Crypto.com has made a rather large accounting error. Back in August 2022, the exchange accidentally refunded an Australian woman 10 million Australian dollars ($6.6 million) instead of the 100 AUD it owed her. Crypto.com reportedly didn’t notice the error until seven months later, during an end-of-year audit.

Before Crypto.com could go through the proper legal process and get its money back, the woman reportedly used the money to buy a luxurious multimillion-dollar mansion with perks such as a home cinema and gym.

As of October 2022, the woman in question had been arrested after being accused of theft. She was later released on bail to await trial, according to the Guardian.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

The convergence of DePIN and energy generation aims to address modern grid challenges by incentivizing distributed generation.

article-image

The deal is made up of $700 million in cash and 11 million shares of Coinbase’s Class A common stock

article-image

Blockworks Research uses numbers to help crypto advance to a higher stage of storytelling

article-image

While Arizona’s governor could veto another crypto reserve bill, similar North Carolina and Texas laws are approaching the finish line

article-image

However, they noted there’s now an increased risk that unemployment and inflation will rise in the coming months. 

article-image

The network’s most ambitious upgrade since the Merge brings validator streamlining, smart account UX and doubled blobspace to Ethereum