Imagine waking up to find your bank account has swelled by nearly a million dollars overnight! That’s exactly what happened to an Australian man, Kow Seng Chai, after a crypto exchange’s slip-up turned his $99,500 deposit into a staggering $995,000.
The mix-up occurred on January 25, 2024, when Rhino Trading Ltd., added an extra zero to Chai’s funds by mistake. But it wasn’t until February 4 that the trading platform, operating as OTCPro, realized the blunder.
Chai, seizing the moment, transferred the lion’s share of this windfall out of his account, realizing almost half a million dollars in profit. He cleverly converted his unexpected gains into Tether’s UDST, adhering to the daily withdrawal limit of $100,000, and managed to transfer $956,000 out of Rhino Trading before they caught on to the error.
Attempts to contact Chai have hit a wall. OTCPro’s efforts, from phone calls to emails, have been met with silence. Meanwhile, court efforts to freeze Chai’s assets and prevent him from leaving the country are in place, as the search for the man and the missing funds continues.
