CoinSpot Billionaire Sues Former Employee Over Alleged $478k Crypto Theft

Russell Wilson, the Melbourne-based billionaire and founder of CoinSpot, is taking his former employee Iresh Pawan Perera to court over allegedly stealing $478,932 from the company's crypto exchange.

The alleged theft occurred between 2018 and March 2023, during which time Perera worked as a customer support team member. The funds were transferred out of CoinSpot in 76 transactions and into Perera's personal bank account.

This is not the first time Wilson's company has been targeted by fraudsters. In 2017, UK-based scammers exploited a glitch in CoinSpot's platform to steal $40 million. The money was eventually recovered after three co-conspirators were convicted and jailed for money laundering.

CoinSpot reported a net profit of $270 million in the 2025 financial year and paid out $251 million in dividends to its shareholders, including Wilson and his wife Kellie.