Crypto.com refunded someone $7.2 million by mistake

[The Morning After]( Now available on your smart speaker and wherever you get your podcasts [Apple Podcasts]( | [Spotify]( | [Google Play]( | [iHeart Radio]( It's Thursday, September 01, 2022. If you ever want a reminder of how hard it is to run a financial institution, check out this unfortunate error made by Crypto.com. It [accidentally refunded one of its customers around $7.2 million]( rather than the $68 she was expecting. Even worse, the company didn’t discover the expensive snafu until nearly seven months after the transfer. Given the basic tenets of crypto-libertarianism and its philosophical resentment of institutions, you might have expected the site to just write-off the loss. 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