Blockchain Aids Investigators as Ex-Mintpal CEO Arrested in the UK

Ex-CEO of the now-defunct exchange Mintpal, Ryan Kennedy, has had his arrest confirmed over non-compliance with a court order requiring him to repay 750 BTC to one of his customers.

The arrest, which according to the director of Mintpal’s previous holding company, Ferdous Bhai, occurred “around [Christ]mas,” was brought about by UK law enforcement after Syscoin, which saw “massive losses” due to Mintpal’s collapse, did not receive payment after pursuing Kennedy through the courts in October last year. Kennedy was later released on bail.

Bhai alleges he was “under confidentiality terms” and so could not confirm the news at the time, and his confirmations were in response to Syscoin’s Dan Wasyluk’s admissions. An update by Coinfire additionally cites a document obtained from “a solicitor intimately familiar with the situation” and which it claims confirms the details.

Kennedy is widely believed to have stolen the equivalent of over 3,700 BTC from Mintpal once it was under the control of his company Moolah, from which he resigned in October follow