Moolah Plans Company Return Despite "Critical Bug" and Locked Bitcoin Exchange
Yesterday, CEO of Moopay Alex Green announced that the company would be filing bankruptcy. They are shutting down the Moolah exchange and already took down the MintPal exchange due to a "critical bug" found in their Version Two migration. By shutting down MintPal without warning, Green has trapped $130,000 worth of cryptocurrency on the exchange. Users were only met with a message page when trying to access the MintPal exchange stating the following: "MintPal is currently down for urgent bug fixes, and is additionally moving to new management (away from Moopay LTD). A statement will follow....
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Syscoin's emergency injunction against Moolah was granted by a UK High Court judge. On Friday, a UK judge granted Syscoin's emergency injunction against Moopay LTD and former Moolah CEO Ryan Kennedy (also known as Alex Green). The injunction bars Kennedy and Moolah from selling the 750 bitcoins Syscoin raised during its initial coin offering and entrusted to the company's escrow service. If Kennedy violates the injunction, he could face prison time. Also Read: Leaked Document Supports Theory that Moolah CEO Alex Green Changed Name. Syscoin Injunction Against Moolah Granted by UK Judge.....
The Moolah scandal has captivated the cryptocurrency world over the past several days. However, one of the more troubling stories has flown under the radar. Moolah is currently holding ~$285,000 in escrow for the Syscoin community, and the company has not responded to requests to return the money. Syscoin is now threatening Moolah with legal action over this breach of trust. Also Read: Dogecoin Creator Responds to Moolah Bankruptcy with Additional Concerns. Overview of the Moolah Scandal. On October 14, the cryptocurrency company Moopay LTD announced it was declaring bankruptcy and that....
Moopay LTD, the digital currency services business better known as Moolah, has announced that it is shutting its doors and filing for bankruptcy protection. The move follows the failed relaunch of the MintPal altcoin exchange, which, after weeks of preparation, was marred by chronic user and platform issues. According to Moolah, its closure stems from an unexpected rise in operational costs and the loss of critical business partnerships in the past month. In its announcement, Moolah said that customer funds are secure and that users of its consumer and merchant money management platform....
On Monday, a United Kingdom High Court judge granted Syscoin's final injunction against Moopay LTD (more commonly known as Moolah) and former CEO Ryan Kennedy (also known as Alex Green). The injunction included a provision ordering Kennedy to repay the 750 bitcoins Syscoin had deposited in Moolah's escrow service. The Syscoin price rose 17% following the announcement. Also Read: United Kingdom Judge Orders Bitcoin Exchange Moolah to Repay Syscoin's Escrow Fund. Syscoin Price Rises After Judge Orders Moolah to Return Bitcoins. Syscoin. When the news first broke that Moolah had effectively....
Digital currency exchange Prelude, a sub-service of Moolah.io, has released a preliminary audit of its dogecoin balances as part of a larger drive to become more transparent about its finances. The release comes amid ongoing controversy about the status of Moolah's business and requests by site users for more information about its exchange business. The evaluation shows that Prelude had approximately 160m dogecoins (about $72k at press time) on its service, roughly 158m of which are customer funds. The company provided a link to the dogecoin block chain verifying that the funds were under....