Crypto exchange OTCPro mistakenly credited more than $650,000 to a user's account and is seeking to recover losses

Due to an error, Rhino Trading, which owns the OTCPro exchange, mistakenly credited $653,000 (A$995,000) to a user's account in January when it should have been $65,300 (A$99,500), ABC News reported, citing court documents. The exchange said it communicated with user Kow Seng Chai after becoming aware of the omission on February 4, but it did not respond to an email seeking his return of funds. Chai also did not appear in court. Court documents also allege that the user allegedly used some of the mistakenly sent funds to purchase USDT and withdrew funds from the exchange at the maximum limit of $100,000, ultimately withdrawing approximately $626,700 (A$956,000) over 10 days. The Supreme Court of Victoria later froze the man's assets on February 9 and issued an injunction on February 21, preventing the man from leaving the country. Meanwhile, the exchange reported a loss of nearly $322,700, which is Chai’s remaining account balance minus the funds sent in error. (Cointelegraph)