On, Oct 15th, MooPay LTD, parent company of digital currency payment processor Moolah.io, and exchange MintPal, announced their intent to file for bankruptcy in a blog post. MintPal allowed you to trade many different digital currencies but was best known as one of the largest Dogecoin exchanges. The exchange currently had a no trading fee promotion going on, attracting traders from many other platforms. Withdrawals had already been unreliable for the last few weeks, but they had completely halted by the time of the announcement, trapping roughly $130,000 USD worth of customer funds on the exchange. At the time of the announcement, the company assured users that withdrawals would eventually resume and that they would receive the entirety of their funds shortly. As time goes on, that looks like less and less of a real possibility.



When we first broke the news on Twitter, the individual controlling Moolah.io's twitter account blatantly lied to us and told us they never owned MintPal. It didn't make any sense that they would lie about their ownership of Mintpal, since it is public knowledge that they acquired them a couple of months ago. Not only do they have this blog post on their own site, announcing the acquisition back in late July, but MintPal announced the acquisition publicly on their twitter page. Why make that claim? Seems so disingenuous; raises a lot of red flags.



Since the announcement, some publications have released info suggesting that MooPay LTD CEO, Alex Green, is in fact a known internet scammer named Ryan Kennedy. Yesterday, Green posted on Moolah.io's website confirming that he in fact did change his name from Ryan Kennedy but claims the fraud allegations are false. He then goes on to explain an alleged technical glitch that, he claims, drained MintPal funds.