MoonPay Execs Scammed for $250K ETH — Why Shibarium Boosts Crypto Safety

The U.S. Department of Justice has filed a complaint revealing that two executives from crypto payments firm MoonPay were allegedly duped into sending $250,000 in Ethereum (ETH), believing it was a donation to President Donald Trump’s inauguration.

While the DOJ complaint does not name the victims explicitly, it includes email screenshots referencing individuals named Ivan and Mouna. These names match those of MoonPay CEO Ivan Soto-Wright and Chief Financial Officer Mouna Ammari Siala, suggesting the executives were the targets of the alleged scheme.

The complaint also references an Etherscan transaction link detailing the transfer between the victims and the alleged scammer. According to reporting by NOTUS, the wallet address involved has previously been associated with Soto-Wright.

According to the filing, the victims were contacted via email by an individual impersonating Steve Witkoff, co-chair of the Trump Inaugural Committee. The message appeared to come from the address “steve_witkoff@t47lnaugural,” a deceptive domain where the letter “L” was used in place of an “i” in “inaugural” to closely mimic a legitimate address.

The individuals were instructed to transfer a $250,000 donation in Ethereum to a specified cryptocurrency wallet, an action they carried out. “Hi Steve—our contribution of $250k was just processed. Here is the confirmation,” read a December 26, 2024, email from Mouna, which included a link to the Ethereum transaction. 

The DOJ complaint further revealed that Binance data identifies the scammer’s wallet on the platform as belonging to Ehiremena Aigbohan, a resident of Lagos, Nigeria. The individual is accused of attempting to launder the stolen funds by transferring them to multiple cryptocurrency addresses.

“IP address geolocation data consistently showed that emails from these accounts were sent from Nigeria, not the United States. It appears that Aigbohan received an international transfer of funds from the U.S. to Nigeria as a result of his fraudulent activities,” the DOJ stated. 

MoonPay Scam Shows Why Trustless Tools Like Shibarium Matter

This incident involving MoonPay executives falling victim to an email-based phishing scam emphasizes a crucial vulnerability even among crypto industry leaders. If seasoned professionals can be deceived by such tactics, it spotlights the urgent need for trustless, on-chain solutions to enhance security across the ecosystem.

Within the Shiba Inu community, platforms like ShibaSwap, Shibarium, and the Doggy DAO offer a different approach. By focusing on decentralized, transparent blockchain interactions rather than relying on centralized communication channels, these tools reduce exposure to scams that exploit human error or centralized points of failure.

For SHIB holders, this reinforces the value of engaging with an ecosystem designed around security and transparency. Shibarium’s on-chain infrastructure ensures that transactions, governance, and liquidity processes are verifiable and resistant to manipulation.

As crypto continues to evolve, such trustless technologies will be vital in safeguarding assets and maintaining user confidence, turning lessons from incidents like MoonPay’s into a call for broader adoption of decentralized, blockchain-native safeguards.

Read More

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• Crypto Scammer Sentenced to 12 Years in Landmark SIM Swap Scheme
• Trezor Warns Users After Phishing Emails Exploit Support System

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.