Moolah Announces Bankruptcy Plan, MintPal Transition Amid Money Crisis
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....
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Moolah has recently picked up Mintpal, the cryptocurrency exchange gaining a lot of publicity recently for events such as the attack with Vericoin ,requiring it to fork. This is a major deal because at the time, Mintpal was currently in possession of 30% of all Vericoin in circulation.Luckily Mintpal and Vericoin developers worked out a solution to thwart the hackers attacks, but something like this still shakes up the public’s trust and opinion of something, in this case an exchange. Mintpal on their official blog said: In regarding the acquisition of Mintpal, Moolah is in fact splitting....
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....
Alex Green, CEO of digital currency services startup Moopay LTD, known commonly as Moolah, has resigned following the company's withdrawal of a proposed bankruptcy plan and the release of evidence allegedly tying him to fraud and past criminal activity. The plan for Moolah to continue operating despite its financial troubles was announced on 15th October. In a blog post, the company said that it had secured outside funding - later revealed on the dogecoin subreddit to be a personal injection of cash from Green - and was weighing buy-out options from potentiamil investors. In his....
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....
In a shocking announcement, Alex Green, CEO of Moopay LTD revealed on October 14, 2014 that Moopay will be filing for bankruptcy, ceasing all operations. Through a blog posting on the official Moolah page, a bitcoin exchange, Green explained the hardships that the company is facing and the future of Moolah, MintPal and MooFarm. "After 10 months as a high-risk startup in a volatile environment, Moolah has reached a stage where it is unable to continue operations in today's market. With rising costs and dropping revenue, and the loss of a number of key clients vital to the ongoing operation....