Two popular Dogecoin and Bitcoin exchanges have allegedly been robbed by their CEO — a known con-artist — resulting in a MtGox’ian-collapse and customers being left empty-handed.
The CEO of Moolah, Alex Green, who was declared responsible for “The Death of Dogecoin,” has been revealed as con-man Ryan Kennedy. Reportedly, 3,700 Bitcoin (~$1,480,000 at time of writing), have gone to the Moolah CEO’s personal wallet, and an unknown number of Dogecoins and altcoins are unaccounted for. Syscoin, another crypto-currency startup, are claiming 750 Bitcoin (~$300,000) held in escrow, has not been returned. Former employees of bitcoin exchange, MintPal, are asking users to contact UK Action Fraud, and now the U.S. Securities and Exchange Commission are investigating.
This isn’t an isolated incident, it seems *coiners can’t help but give their money to scammers. Many in the community are dismayed that a serial con-artist managed to get by unnoticed for so long. Dogecoiners are commiserating now in the Dogecoin subreddit, with finger-pointing and despair. The entire cryptocurrency market is depressed as well. Now Moolah and MintPay are destined to join MtGox in the dustbin of history.