Over the past four days, countless accusations targeting Moopay CEO Alex Green have flooded the cryptocurrency community. These allegations accuse Green of being long-time bitcoin scammer Ryan Kennedy. Confirmed as fact by multiple sources, the evidence pulls tighter and tighter around the suspiciously silent CEO.
Just before the accusations arose, Green announced that Moopay would be filing for bankruptcy. Without warning, he shut down MintPal, a popular bitcoin exchange, trapping what looked like $130,000 worth of cryptocurrency inside. Green then claimed that Moopay had no control over MintPal; a completely different message than he told in Moolah’s company blog. Claiming they passed the exchange over to new management, Green informed Moopay employees that MintPal was no longer their problem.
MintPal promised that withdrawals would process over time, but complaints surfaced that consumers were not receiving their bitcoins. Blaming it on faulty daemons, MintPal bought more time to hold onto the stolen property by possibly tricking consumers.
Now, it’s public knowledge that the accused scammer Alex Green may hold 3700 stolen bitcoins, $1,480,000, from the exchange in his personal wallet. The coins are narrowed down to exist in this wallet. However, Green quickly took the podium to announce that he is Ryan Kennedy, and the coins quickly moved afterwards.
After a confession by former Moopay employee Eoghan Hayes, the accusation and worry were made clear:
“What happened to MintPal is the equivalent of a nuclear bomb being dropped on a City, and a two-man hazard crew consisting of Mike and Ferdous are now in charge of the cleanup – and attempting to follow the trail of a 3700BTC transaction from MintPal, which is now accused of being lodged into a personal account of Ryan Kennedy.”
Hayes continued, explaining that after accusations had started to fly that Alex Green was a scammer, he learned a horrifying piece of information from MintPal’s former owners.
“I immediately got in touch with Mike, and Ferdous; the main shareholders in MintPal. They were as shellshocked by all of this information as I was. They then revealed to me something far more dangerous; Ryan is currently in complete control of the MintPal system, inclusive of the cold storage wallets. Coupled with this, over 1000 BTC in altcoins were not transferred in the “server migration”; and would have been lost forever if MintPal’s previous owners (Jay and Jason) did not reach out to the server host.”
Furthermore, Hayes learned that Green did not log into the MintPal system a single time from his given United Kingdom address. No one knows where Green is at the moment, and the only hope is that the United States Department of Justice or the Securities and Exchange Commission can track him down.
MintPal is a “Lost Cause”
Earlier this week, CoinGecko delisted MintPal as an exchange on their website. Their co-founder Bobby Ong told CCN that he believed MintPal was a lost cause, and compared them specifically to Mt.Gox.
“If you go through the historical postings of Moolah, they claimed to have acquired MintPal,” Ong said. “Yesterday they started saying that they did not actually acquire MintPal, but were only responsible for managing it. Either way this is a serious breach of trust of the public.”
Some users are reporting that they received a few altcoins from withdrawals, but bitcoin confirmations are few and far between.
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