Top employees of cryptocurrency payment service provider MoonPay allegedly transferred $150 million from the funding round to their personal accounts.
According to a report by The Information, MoonPay’s CEO Ivan Soto-Wright including senior employees, in parallel with a major investment round millions of dollars made a profit on its worth.
During the MoonPay 2021 Series A 3.4 billion dollars on valuation $555 million had collected. Leading actors of the sector among investors Tiger Global Management And Coat Management also took place. But this investment 150 million dollars part was never incorporated into the company.
According to the anonymous source, the company $405 million He added it to its budget, as it should, but at the time, senior executives, including Soto-Wright, were secretly selling their shares. 150 million dollars He cashed it out and put it in his own pockets.
MoonPay has confirmed that its Series A funding round includes secondary sales that were not previously disclosed to the public. A few weeks after the Series A funding round, Soto-Wright is in Miami A 38 million dollar mansion bought this mansion to many flamboyant parties used to host.