In a stunning scam, MoonPay CEO Ivan Soto-Wright and CFO Muna Ammari Siala became victims of cryptocurrency fraud, losing $250,300. According to U.S. Department of Justice documents, the perpetrator, posing as Steve Witkoff, a well-known developer and co-chair of Donald Trump's 2017 inauguration committee, sent a fake letter from a forged email address. The scammer convinced the executives to transfer funds in Ethereum-based USDT supposedly for the Trump-Vance committee.
This incident underscores the growing risks of digital fraud, even for experienced professionals in the cryptocurrency space. The perpetrator, likely from Nigeria, attempted to launder funds through several crypto wallets. The U.S. Department of Justice is working to recover 40,350 USDT from frozen accounts. This event raises questions about MoonPay's internal security protocols, especially following their recent expansion to all 50 states in the U.S. with the prestigious BitLicense.
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