These two wanted to do something good, but sadly got caught in a web of deceit and betrayal.
It was fast and good looking, but it lacked on the security front.
An individual named Alex Green, claiming to be a security expert who had previously worked for Citibank.
Ferdous knew Alex only via Reddit.
He had never met him before, nor has he met him now.
But he believed Alex to be a good guy because of the charities that he organized.
So he trusted him and went ahead with the deal.
The Fallout
Needless to say, the launch didnt go as per plan.
A short while later, Moolah the parent company declared that they were filing for bankcruptcy.
They used Blockchain, through which they tracked the movement of the coins.
The advantage of using cryptocurrency was, you could never eliminate the tracks.
I feel bad at the moment.
They reached out to lacalbitcoin and managed to freeze the account immediately.
The 4,000 BTC likely includes the missing funds from Mintpal and the 750 BTC from Syscoin held in escrow.
Fedous took the decision of replaying all the bills left unpaid just to get the servers back.
source: www.techworm.net
