🚨 [WARNING] MintPal.us.com Scam Exposed: Do NOT Deposit Money! 🚨
[WARNING: MintPal.us.com Scam Alert]
Recently, a website called mintpal.us.com has surfaced, claiming to merge accounts from the defunct cryptocurrency exchange MintPal and requesting a $500 deposit for account activation. This is a classic financial scam. In this post, we will analyze MintPal’s history and current scam tactics to help investors avoid falling victim to fraud.
1. The History of MintPal: A Once-Popular Altcoin Exchange
MintPal emerged in early 2014 as a cryptocurrency exchange specializing in altcoins such as Dogecoin, Blackcoin, and VeriCoin. With its user-friendly interface and low fees, the platform gained rapid popularity. However, MintPal faced major incidents that led to its downfall.
2. The Collapse of MintPal: Hacking and Internal Fraud
(1) July 2014 - VeriCoin Hack
In July 2014, MintPal suffered a major security breach in which its VeriCoin (VERI) hot wallet was hacked. Approximately 8 million VeriCoins (worth around $2 million) were stolen. Despite emergency maintenance and partial fund recovery, users lost trust in the platform.
(2) October 2014 - Internal Fraud and Bankruptcy
Due to financial struggles, MintPal was sold to a payment solutions company called Moolah. However, Moolah’s CEO, Ryan Kennedy (alias Alex Green), embezzled users’ funds in an elaborate fraud scheme.
Following the acquisition, withdrawals began to delay, and eventually, Moolah declared bankruptcy, freezing all user funds on MintPal. Investigations later revealed that Ryan Kennedy had misappropriated millions of dollars from investors.
3. The Emergence of MintPal.us.com: A Typical Scam Pattern
The recently surfaced website mintpal.us.com is completely unrelated to the original MintPal. It claims that past users can merge their old accounts and activate them by depositing $500. This is a well-known phishing and financial scam tactic.
(1) Why is mintpal.us.com a scam?
- MintPal ceased operations 10 years ago and has never officially resumed
- The us.com domain is suspicious and not typically used by legitimate cryptocurrency exchanges
- Requiring a $500 deposit to ‘activate’ an account is a clear advance fee scam
- Users will not regain access to their funds, and deposited money will not be returned
(2) Similar Scams Have Occurred in the Past
- There have been numerous cases where scammers impersonated defunct exchanges (e.g., Mt. Gox, Cryptsy) and tricked victims into depositing money under the guise of account recovery.
- Such schemes never return the promised funds and are simply designed to steal victims’ money.
4. Can MintPal Victims Still Receive Compensation?
Many investors lost funds due to MintPal’s collapse in 2014, and realistically, there is little chance of recovering those losses today.
(1) MintPal’s Official Bankruptcy Process
Moolah officially declared bankruptcy in 2014, and user funds were liquidated without compensation.
(2) Ryan Kennedy’s Legal Punishment and Asset Recovery Issues
Ryan Kennedy, the mastermind behind the MintPal scam, was sentenced to 9 years in prison in 2023 for fraud and sexual assault. However, no official court order was issued to return funds to MintPal victims. It is also highly likely that Kennedy’s personal assets have been depleted or hidden, making recovery nearly impossible.
5. How to Avoid Falling for MintPal.us.com and Similar Scams
✔ Never log in to mintpal.us.com or provide personal information.
✔ Do not send any money; a legitimate exchange would never require a deposit to activate an old account.
✔ Verify the official status of cryptocurrency exchanges before trusting them.
✔ If you have logged into the site, change your passwords immediately and enable two-factor authentication (2FA).
✔ If you have been scammed, report it to law enforcement and financial authorities.
6. Conclusion: Investors Must Protect Themselves
The MintPal case serves as a strong warning about the dangers of centralized cryptocurrency exchanges. Fraudsters continue to exploit the names of defunct exchanges to deceive victims, and mintpal.us.com is likely another example of such a scam.
Investors must always verify the legitimacy of cryptocurrency services and be wary of sites claiming to restore lost accounts. In particular, any site that demands a deposit for account reactivation should be treated as highly suspicious.
🔴 DO NOT log in or deposit money into MintPal.us.com!
If you found this information useful, please share it with fellow cryptocurrency investors to help prevent further fraud!