A crypto user's deposit had an extra zero due to an exchange error, and after withdrawing the excess $585,000, they are facing an investigation

ChainCatcher news, a cryptocurrency trader Kow Seng Chai deposited $65,000 into the cryptocurrency exchange OTCPro, but due to an error at the exchange, his balance mistakenly increased by an extra zero, becoming $650,000. When the cryptocurrency exchange detected the error, the trader had already withdrawn an excess of $585,000 and transferred it to another account.

Currently, the Supreme Court of Victoria, Australia has issued a freezing order on the account of cryptocurrency trader Kow Seng Chai. It is reported that in many jurisdictions, failing to report and intentionally accepting incorrect payments (such as inaccurate refund amounts) constitutes theft.

However, Shaanan Cohney, a lecturer in cybersecurity computing and information systems at the University of Melbourne, expressed skepticism about the possibility of recovering funds in similar situations. This is because in most cases, the recipients of the funds tend to disappear without a trace. However, Kow Seng Chai is located close to the Australian stock exchange, which increases the possibility of recovering the funds.