Bitcoin exchange founder cannot be found after bitcoin misappropriation

The founder of the British bitcoin exchange Moolah appears to have gone into hiding after the company has filed for bankruptcy. Bitcoins worth 1.1 million euros would have been stolen, according to the founder, but it is suspected that the man owns the virtual currency.

In a blog post, Alex Green, founder and director of Moolah, announced on October 19 that his bitcoin exchange has filed for bankruptcy. The cause is said to have been a bug in Moolah’s software, which would allow account holders to double their credit. However, Moolah also had assets in the hands of 70,000 MintPal users. This company was acquired by Moolah after virtual money was stolen from MintPal by hackers. According to Green, the MintPal funds would not have been affected.

Despite Green’s announcement, MintPal users have been unable to access their funds in recent days. After research has been conducted on the bitcoin blockchain, the virtual money appears to have flowed to a wallet that is managed by Green. Because he has the private key in his hands, only he would have access to the amount estimated at a value of 1.1 million euros.

Green, meanwhile, appears to have gone into hiding, despite more or less admitting his mistakes in his blog posting and promising to cooperate with any judicial investigation into the case. According to The Guardian, Green is an entrepreneur with numerous bankruptcies to his name. He has also founded companies in the past using different first and last names