MintPal Vows to Fight Former Moolah CEO in Court

The owners of the troubled digital currency exchange MintPal are moving to take legal action against former Moopay LTD CEO Alex Green.

Green, who was once known as Ryan Kennedy, is accused of stealing as much as 4,000 BTC in user funds from MintPal following its failed relaunch and the subsequent collapse of Moopay, which assumed control of the exchange this summer.

Much of the stolen bitcoin was held in cold storage under the control of Green, according to the MintPal leadership.

Green has denied engaging in unlawful behavior, but has admitted to changing his name from Ryan Kennedy to Alex Green.

Bhai has released a document detailing his and partner Mike Chu's involvement with Green and their subsequent plans to recover customer funds.

According to the document shared by Bhai, the partners saw promise in the original MintPal platform and the team at Moolah working under Green.

Chu and Bhai were set to own 65% of the company, with the remainder afforded to Green and Moolah developers working on the MintPal V2 project.

The failed relaunch and the turmoil surrounding Moolah created an environment that, according to Bhai, gave Green an opportunity to begin moving customer funds out of cold storage.

Bhai's account of the affair included a Skype exchange he had with Green, during which time the now-ex Moolah CEO blamed the MintPal leadership for the loss of customer funds.

Bhai added that, if true, this means Green is in violation of an injunction granted Monday by the UK High Court against him and Moolah.