Crypto Executives Deceived by Fraudulent Activities

A recent revelation in a Department of Justice filing highlights a surprising scam, leading two high-ranking individuals from MoonPay to inadvertently give away $250,000 in Ethereum, allegedly for President Trump's inauguration event.

Details of the Deception

Although the DOJ does not explicitly name those scammed, disclosed email screenshots feature first names, Ivan and Mouna, aligning with Ivan Soto-Wright, CEO of MoonPay, and Mouna Ammari Siala, its chief financial officer. An Etherscan link included in the complaint shows a transaction related to Soto-Wright's previously identified wallet.

MoonPay’s Prominent Position

MoonPay, frequently endorsed by various celebrities, found itself embroiled in a separate class action suit concerning compensation to Bored Ape Yacht Club NFT endorsers. The platform also facilitated the purchase of Donald Trump's cryptocurrency token, reporting an influx of over 750,000 new users post-launch.

How the Scam Unfolded

The DOJ documentation reveals that the MoonPay executives were contacted by an impersonator claiming to be Steve Witkoff, a co-chair for Trump's Inaugural Committee. The deceiving email slightly varied the authentic address by substituting an 'L' for what should have been 'i'.

The email instructed a $250,000 Ethereum donation to a specified crypto wallet, which the executives complied with. A message from Mouna confirmed the transaction was processed on December 26th, 2024, including a transaction link.

Aftermath of the Scam

The DOJ pointed to an individual in Nigeria as part of the laundering scheme, distributing the funds across

MoonPay was approached for their comments on the incident; as of yet, they have not issued any response.