{"id":340943,"date":"2023-07-07T23:20:40","date_gmt":"2023-07-07T22:20:40","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=340943"},"modified":"2023-07-07T21:59:11","modified_gmt":"2023-07-07T20:59:11","slug":"crypto-com-seeks-to-recover-76k-related-to-transaction-error-in-users-favor","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/crypto-com-seeks-to-recover-76k-related-to-transaction-error-in-users-favor\/","title":{"rendered":"Crypto.com seeks to recover $76K related to transaction error"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/companies\/crypto-com\/\">Crypto.com<\/a> has recently submitted legal documents, dated <a href=\"https:\/\/www.courtlistener.com\/docket\/67562881\/1\/foris-dax-inc-v-mcjunkins-jr\/\">July 7<\/a>, in a bid to recover from an erroneous $50,000 transaction and over $26,000 in additional funds generated as a consequence<\/p>\n<p>The case revolves around an incident involving Georgia resident James Deutero McJunkins Jr., a Crypto.com user who allegedly received an erroneous deposit of $50,000 in his Crypto.com account on June 24, 2022.<\/p>\n<p>McJunkins transferred these funds to a bank account on the day of the deposit. Crypto.com asked McJunkins to return the funds several times, and after he failed to do so, initiated an arbitration process. The firm lodged claims, including breach of contract, civil theft under Fla. Stat. \u00a7 772.11, unjust enrichment, and conversion.<\/p>\n<p>Crypto.com received an arbitration award at the end of the process.\u00a0 This result required McJunkins to pay $76,391.46 to Crypto.com within 30 days of the award being issued. However, McJunkins failed to meet this obligation, prompting the company to seek confirmation from the court through its latest legal filing.<\/p>\n<p>The filing notes that the arbitration award could be vacated or modified in case of fraud, partiality, misconduct, abuse of power, miscalculation, or other issues in the arbitration process. However, Crypto.com said that these factors are not at play and notes that McJunkins did not respond to or dispute its arbitration award.<\/p>\n<p>The awarded $76,391.46 is a sum total of $50,000 in actual damages, $1,786.11 in statutory interest, $21,205.35 in attorneys' fees, and $3,400 in arbitration costs.<\/p>\n<h2>Crypto.com addressed another large error in 2022<\/h2>\n<p>Crypto.com addressed another erroneous transaction less than one year ago in <a href=\"https:\/\/cryptoslate.com\/couple-mistakenly-paid-10-5m-by-crypto-com-defends-spending-spree-as-contest-winnings\/\">late 2022<\/a>. The crypto company paid more than $10 million to a user instead of the approximately $100 that it actually owed. The affected users were similarly charged with theft and have been compelled to return most of those funds.<\/p>\n<p>These cases serve as a reminder that acceptance of large incorrect transactions can have legal repercussions, even if those transactions involve crypto.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto.com has recently submitted legal documents, dated July 7, in a bid to recover from an erroneous $50,000 transaction and over $26,000 in additional funds generated as a consequence The case revolves around an incident involving Georgia resident James Deutero McJunkins Jr., a Crypto.com user who allegedly received an erroneous deposit of $50,000 in his [&hellip;]<\/p>\n","protected":false},"author":1403,"featured_media":301379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,60793],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto.com seeks to recover $76K related to transaction error<\/title>\n<meta name=\"description\" content=\"Crypto.com submitted new legal documents on July 7 through which it seeks to recover an erroneous $50,000 transaction and over $26,000 in additional fees.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/crypto-com-seeks-to-recover-76k-related-to-transaction-error-in-users-favor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto.com seeks to recover $76K related to transaction error\" \/>\n<meta property=\"og:description\" content=\"Crypto.com submitted new legal documents on July 7 through which it seeks to recover an erroneous $50,000 transaction and over $26,000 in additional fees.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/crypto-com-seeks-to-recover-76k-related-to-transaction-error-in-users-favor\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-07T22:20:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-07T20:59:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/genesis-court.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mike Dalton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mike Dalton\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/crypto-com-seeks-to-recover-76k-related-to-transaction-error-in-users-favor\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/crypto-com-seeks-to-recover-76k-related-to-transaction-error-in-users-favor\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/#person\",\"name\":\"Mike Dalton\",\"url\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/mike-dalton-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/mike-dalton-author-300x300.jpg\",\"caption\":\"Mike Dalton\"},\"jobTitle\":\"Former Journalist\",\"description\":\"Before transitioning to crypto writing in 2018, Mike studied library and information sciences. 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