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Most cryptocurrency users will remember the MintPal exchange. At one point, it was the go-to place for all altcoin trading activities. However, the platform eventually disappeared as the owner scammed hundreds of people It now seems the Avon and Somerset Economic Crime Team is working on an investigation involving this company. A positive turn of events, which may eventually yield some closure as well.
It has been a while since people last hear about MintPal. It will also ring bells of Moolah and Ryan Kennedy or Alex Green. This same individual went by different names in an effort to scam people. Around 3,700 BTC were stolen in the process and never fully recovered. Kennedy has been in jail for quite some time now, yet was never officially sentenced whatsoever. The investigation involving this exchange is still going on, though.
MintPal Investigation is still Ongoing
More specifically, there is an operation known as Sparrow. This major UK fraud investigation focuses on cryptocurrency activities. As a result, former users of the exchange received an email.In this email, the investigators ask for some information to help build their case. According to the team, around 14,000 people lost money due to MintPal. A rather spectacular amount, to say the very least. If all of these people file complaints, things will get very interesting.
Detective Constable Charlotte Suter comments as follows:
“Operation Sparrow is an ongoing UK fraud investigation into the activities of Moolah and its former CEO Ryan Kennedy, also known as Alex Green. The investigation focuses on Kennedy’s acquisition of Mintpal in 2014 and the subsequent disappearance and dispersal of customers’ funds from the exchange. Kennedy has been charged with a number of fraud offenses in relation to these matters and is due to face trial at Bristol Crown Court.”
It is evident the MintPal case may finally get some proper follow-through. After all, this exchange successfully ran off with people’s money without recourse. Such a situation is acceptable. Although Bitcoin isn’t legal tender in the UK, criminals must still be prosecuted. It will be interesting to see what comes of this investigation. Ryan Kennedy is one of the most despicable people on the planet right now. We can only hope he will effectively be sentenced to jail and made an example of.
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