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WDC · 350w

In retrospect, probably not a Bad thing Worldcoin chose not to join Moolah, good call, that's company run by a crook.

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 resignation post, Green blamed himself for the failure but rejected claims that either digital currency services platform or altcoin exchange MintPal had behaved fraudulently, saying:

"There is no scam here, no matter how you look. There has been poor management however and that is my fault, it's time to rectify that so the remaining employees, our investors, and our customers have a good shot at making something of what I have built."

In the short term, the company said, Moolah will be moving away from consumer-facing services to focus on the merchant digital currency market.

Customer, investor concerns mount

In the wake of the resignation, members of both the dogecoin community - some of whom were investors in funding rounds conducted by Moolah, took to both Reddit and Twitter to voice their fears about both the future of the company they invested in and the safety of funds stored on either platform managed by Moolah.

Moopay announced today that withdrawal requests on the MintPal platform can be made through an augmented front-end of the exchange. Some users have been able to process withdrawals while others have reported delays or missing balances and transactions, according to customer accounts on Twitter.

@moolah_io DRK Withdrawal Status A85ae8b5f0f5a5dbeef276430dd2d08d94cfd8339a562e53a1e0b1d27ce5f24c Displayed 2h ago....
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