Today the soap-opera surrounding the CryptoRush exchange began heading towards the season finale, as publicized by an official statement at Moolah’s blog.
CryptoRush has faced scandal after scandal in the last thirty days, and is looking like they are down for the count. For a history of their troubles, see the section at the end of this article.
Enter Good-Guy Moolah.
I personally approached the CryptoRush team to see if there could be any attempt at salvaging them, […]We would assume the liability, take over the operation (fold it down), and slowly repay people over time based on a % of our profits. We would be doing this solely to help the community, and prevent people from being (quite bluntly) screwed over. After finding out more information, I retracted the offer.
-Moolah’s official statement.
Moolah retracted the offer after learning that CryptoRush’s management (who is mostly anonymous) was aiding the fraud of the exchange’s users by pumping and dumping certain coins, as well as selling an in-house scam coin called “CryptoRushShares.”
This Is Where It Gets Weird
After learning of the fraud at CryptoRush, Moolah encouraged the owner to do the honest thing and shut down the site and file bankruptcy, to which the owner replied that once he “regains his power” he will “finish” Moolah.
Moolah was later invited without warning to a Skype conversation with CryptoRush operator “Linkandzelda” and another individual claiming to be representing CryptoRush in a legal capacity. The “lawyer” would not provide their name, only that they practiced with the firm Di Tanno.
After threatening to “release” already public knowledge about Moolah (the fact that they have operated remotely), the CryptoRush lawyer made demands to Moolah,
“so, you are pleased to stop using the word fraud, either in private or public statement”
“referng, but not liited, to twitter statement, facebook, other social media, and any other form of public and private communication”
“now i understand when the privious owner contacted me, stating that you was the most inhumane person ever met, what he meant“
Multiple people have insisted on Moolah’s behalf that this is not connected to April Fools Day.
What exactly being “finished” entails for a company like Moolah has yet to be seen, but hopefully the community has seen the last of the damage caused by the negligence and lies of CryptoRush.
In just under a month, CryptoRush has experienced separate losses of both Zeitcoin and Blackcoin, each of which were caused by wallet issues allowing users to withdraw more funds than they had in their account.
After the losses incurred by those incidents, CryptoRush announced that they would issue CryptoRushShares that would pay holders dividends. That’s right, huge losses of over 1000 BTC, followed by the release of an in-house cryptocurrency, nothing shady here.
Right on cue, a support worker calling themselves DogeyMcDoge leaked what was going on with CryptoRushShares:
I was informed of the plan to announce CryptoRushShares, a currency that would pay % fees to holders. And the kicker? Fyrstikken would announce 60% ownership of them. But in the back room?
[3/14/2014 10:48:15 PM] “Basically, he’s helping me gain capital back from share buyers. He started by announcing 60% shareholding, but he actually owns only 10%.”
Around the time this fraud came to light, a mysterious “new owner” stepped in that is even more anonymous than the old ones. Only time will tell how much worse the saga can get.