{"investigation":{"slug":"moonpay","entity_name":"MoonPay","trust_score":60,"severity_base":null,"score_modifier":0,"confidence":0.65,"status":"published","content_type":"investigation","summary":"MoonPay is a Miami-based crypto payments infrastructure company, founded in 2019 by Ivan Soto-Wright and Victor Faramond, that provides fiat-to-crypto on-ramp services and holds money transmitter licenses across most U.S. states plus a MiCA license and other registrations in Europe. The company has faced a pending class-action lawsuit alleging undisclosed celebrity promotion of Bored Ape NFTs, reporting that insiders including the CEO cashed out $150 million shortly before the 2022 crypto downturn, and a 2025 incident in which its CEO and CFO were allegedly defrauded of roughly $250,000 by a scammer impersonating a Trump administration official. No regulatory enforcement action against MoonPay itself was found in available sources.","sections":[{"content":"A class-action lawsuit filed in late 2022 names MoonPay, Yuga Labs, and numerous celebrities including Justin Bieber, Madonna, Jimmy Fallon, Gwyneth Paltrow, Paris Hilton, Kevin Hart, Serena Williams, and Stephen Curry. The complaint alleges that MoonPay acted as a 'front operation' that facilitated undisclosed payments from Yuga Labs to celebrities who promoted Bored Ape NFTs without disclosing compensation or financial ties, allegedly inflating NFT values. MoonPay has denied the allegations, stating through a spokesperson that it charged celebrity clients in full for the NFTs' price. In June 2023, The Block reported that unnamed former MoonPay employees were sources for claims that some celebrities received Bored Ape NFTs without being charged; MoonPay disputed this account but declined to specify when invoices were sent or whether they were paid. In August 2023 the complaint was amended to add a confidential witness, described as a former MoonPay employee who said they could not find records of celebrity clients holding accounts with the company, and to add auction house Sotheby's as a defendant. The SEC has separately been reported to be investigating Yuga Labs over potential securities-law issues related to Bored Ape NFTs. As of the most recent reporting found, the lawsuit remained in pre-trial procedural stages; its outcome is unresolved and allegations against MoonPay are unproven.","heading":"Bored Ape NFT Celebrity Promotion Class Action","sources":[{"url":"https://cointelegraph.com/news/yuga-labs-moonpay-faces-lawsuit-over-celebrities-nft-promotion","name":"Yuga Labs, MoonPay face lawsuit over celebrity NFT promotion","type":"news_article","credibility":2},{"url":"https://www.theblock.co/post/233594/moonpay-gave-hollywood-celebs-bored-apes-to-promote-itself","name":"Crypto hype machine MoonPay gifted Hollywood celebs Bored Apes to promote itself: sources","type":"news_article","credibility":2},{"url":"https://www.theblock.co/post/244554/bored-apes-moonpay-class-action-adds-whistleblower-and-sothebys","name":"Sotheby's becomes defendant in Bored Apes-MoonPay lawsuit as confidential witness added","type":"news_article","credibility":2},{"url":"https://coingeek.com/did-moonpay-give-hollywood-celebs-bored-ape-nfts-to-pump-their-price-and-boost-its-profile","name":"Did MoonPay give Hollywood celebs Bored Ape NFTs to pump their price and boost its profile?","type":"news_article","credibility":2}],"severity":"medium"},{"content":"In May 2023, The Information reported, citing an unnamed source, that MoonPay insiders — including co-founder and CEO Ivan Soto-Wright — collectively cashed out approximately $150 million in a secondary share sale as part of the company's November 2021 Series A round, which totaled $555 million at a $3.4 billion valuation led by Coatue and Tiger Global. The company had not previously disclosed the secondary sale publicly. Soto-Wright subsequently purchased a Miami Beach waterfront mansion, formerly owned by NBA player Chris Bosh, for approximately $38.5 million about a month after the round closed. The cash-out occurred before the broader 2022 crypto market downturn. These reports rely on a single anonymous source and have not been independently confirmed by MoonPay; no wrongdoing or violation of law has been alleged, but the timing has drawn scrutiny as a conflict-of-interest concern regarding executive self-dealing relative to outside investors.","heading":"Insider Cash-Out Before 2022 Crypto Crash","sources":[{"url":"https://www.theblock.co/news/business/2023-05-30-moonpay-insiders-pocket-150-million-the-information-232592","name":"MoonPay insiders pocketed $150 million weeks before CEO bought $38 million mansion: The Information","type":"news_article","credibility":2},{"url":"https://ca.investing.com/news/cryptocurrency-news/moonpay-executives-collected-150-million-during-crypto-market-peak-3007499","name":"MoonPay executives collected $150 million during crypto market peak","type":"news_article","credibility":2},{"url":"https://fortune.com/crypto/2023/05/31/moonpay-150m-cash-out-crypto-crash","name":"MoonPay $150M cash-out before crypto crash","type":"news_article","credibility":2}],"severity":"low"},{"content":"A July 2025 Department of Justice court filing, reported by The Block, indicated that two MoonPay executives — identified in the filing only by the first names 'Ivan' and 'Mouna,' which crypto outlet NOTUS reported likely correspond to CEO Ivan Soto-Wright and CFO Mouna Ammari Siala — sent roughly $250,300 in cryptocurrency to a scammer impersonating U.S. official Steve Witkoff. The scam reportedly used a spoofed email domain and originated, per IP geolocation data cited in the filing, from Nigeria. The case docket was briefly and apparently erroneously sealed in full; interim U.S. Attorney Jeanine Pirro attributed the error to court clerks, stating prosecutors had intended to seal only the original complaint. This incident describes MoonPay executives as victims of fraud rather than perpetrators, but it is included here because it involves the company's leadership and large company-linked funds; no evidence found indicates MoonPay the company was implicated in wrongdoing.","heading":"2025 Social-Engineering Scam Targeting Executives","sources":[{"url":"https://www.theblock.co/news/regulation/2025-07-12-moonpay-executives-may-have-sent-250000-to-nigerian-scammer-doj-filing-suggests-362339","name":"MoonPay executives may have sent $250,000 to Nigerian scammer, DoJ filing suggests","type":"news_article","credibility":2},{"url":"https://decrypt.co/331384/doj-blames-court-error-after-trump-linked-crypto-scam-docket-briefly-sealed","name":"DOJ Blames Court Error After Trump-Linked Crypto Scam Docket Briefly Sealed","type":"news_article","credibility":2}],"severity":"low"},{"content":"MoonPay USA operates as a registered money services business and reportedly holds money transmitter licenses in 46 U.S. states as of March 2025, with Wisconsin cited as its most recent addition. The company's own disclosures state it holds a MiCA license from a Dutch financial authority, a New York BitLicense and trust charter, and various security certifications (SOC 2 Type 2, ISO 27001/27701/27018, PCI DSS 4.0). No independent regulatory enforcement action, fine, or sanction against MoonPay itself was found in available sources. A claim circulating online of a '$45 million SEC settlement' against MoonPay could not be verified against any primary regulatory or court source and should be treated as unconfirmed; it is not included as a finding here.","heading":"Regulatory Licensing and Compliance Posture","sources":[{"url":"https://digitalmoneybox.com/news/blockchain/moonpay-secures-wisconsin-license-expands-presence-in-us-crypto-market","name":"MoonPay Secures Wisconsin License, Expands Presence in U.S. Crypto Market","type":"news_article","credibility":2},{"url":"https://kucoin.com/de/news/flash/moonpay-secures-mica-license-from-dutch-financial-authority","name":"MoonPay secures MiCA license from Dutch financial authority","type":"news_article","credibility":2}],"severity":"low"},{"content":"MoonPay was founded in 2019 by Ivan Soto-Wright and Victor Faramond as a fiat-to-crypto payments infrastructure provider. In November 2021, the company raised $555 million in a Series A round led by Tiger Global and Coatue Management, reaching a $3.4 billion valuation; of this, $405 million went to the company while $150 million represented a secondary sale of existing shareholders' stock. MoonPay has since expanded into enterprise stablecoin infrastructure (rebranding its Iron acquisition as MoonPay Enterprise) and counts high-profile individual investors among its backers. CEO Ivan Soto-Wright is scheduled to speak at Solana Breakpoint 2026 in London on a panel about MoonPay's work with WisdomTree on Solana; this speaking engagement is a scheduling fact, not itself a finding about the company's conduct.","heading":"Company Background and Growth","sources":[{"url":"https://www.coindesk.com/business/2021/11/22/payments-infrastructure-firm-moonpay-raises-555m-at-a-34b-valuation/","name":"Payments Infrastructure Firm MoonPay Raises $555M at a $3.4B Valuation","type":"news_article","credibility":2},{"url":"https://blockworks.co/news/moonpay-marshals-555m-in-series-a-funding-round","name":"MoonPay Marshals $555M in Series A Funding Round","type":"news_article","credibility":2},{"url":"https://solana.com/breakpoint/schedule","name":"Solana Breakpoint 2026 Schedule","type":"official","credibility":2}],"severity":"low"}],"timeline":[{"date":"2019","event":"MoonPay founded by Ivan Soto-Wright and Victor Faramond.","source":"CNBC / multiple outlets","source_url":"https://www.cnbc.com/id/107048074"},{"date":"2021-11-22","event":"MoonPay announces $555 million Series A round led by Tiger Global and Coatue, valuing the company at $3.4 billion; $150 million of the round was later reported to be a secondary sale to insiders.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2021/11/22/payments-infrastructure-firm-moonpay-raises-555m-at-a-34b-valuation/","date_evidence":"UPDATED 12:16 EST / NOVEMBER 22 2021"},{"date":"2022","event":"Class-action lawsuit filed alleging MoonPay and Yuga Labs conspired with celebrities to promote Bored Ape NFTs without disclosure.","source":"Cointelegraph","source_url":"https://cointelegraph.com/news/yuga-labs-moonpay-faces-lawsuit-over-celebrities-nft-promotion"},{"date":"2023-05","event":"The Information reports MoonPay insiders, including CEO Soto-Wright, cashed out $150 million in the 2021 Series A round; Soto-Wright had purchased a $38.5 million Miami Beach mansion shortly after the round closed.","source":"The Block (citing The Information)","source_url":"https://www.theblock.co/news/business/2023-05-30-moonpay-insiders-pocket-150-million-the-information-232592"},{"date":"2023-06","event":"The Block reports former MoonPay employees say the company gave some celebrities Bored Ape NFTs to promote itself; MoonPay denies and says clients were charged in full.","source":"The Block","source_url":"https://www.theblock.co/post/233594/moonpay-gave-hollywood-celebs-bored-apes-to-promote-itself"},{"date":"2023-08","event":"Bored Ape class action amended to add a confidential former-employee witness and Sotheby's as a defendant.","source":"The Block","source_url":"https://www.theblock.co/post/244554/bored-apes-moonpay-class-action-adds-whistleblower-and-sothebys"},{"date":"2025-03","event":"MoonPay reported to hold money transmitter licenses in 46 U.S. states, adding Wisconsin.","source":"Digital Money Box","source_url":"https://digitalmoneybox.com/news/blockchain/moonpay-secures-wisconsin-license-expands-presence-in-us-crypto-market"},{"date":"2025-07","event":"DOJ filing reported to show MoonPay's CEO and CFO were allegedly defrauded of about $250,300 by a scammer impersonating official Steve Witkoff; docket briefly sealed in full due to a reported court clerical error.","source":"The Block","source_url":"https://www.theblock.co/news/regulation/2025-07-12-moonpay-executives-may-have-sent-250000-to-nigerian-scammer-doj-filing-suggests-362339"}],"sources_used":[{"url":"https://cointelegraph.com/news/yuga-labs-moonpay-faces-lawsuit-over-celebrities-nft-promotion","name":"Yuga Labs, MoonPay face lawsuit over celebrity NFT promotion","type":"news_article","credibility":2},{"url":"https://www.theblock.co/post/233594/moonpay-gave-hollywood-celebs-bored-apes-to-promote-itself","name":"Crypto hype machine MoonPay gifted Hollywood celebs Bored Apes to promote itself: sources","type":"news_article","credibility":2},{"url":"https://www.theblock.co/post/244554/bored-apes-moonpay-class-action-adds-whistleblower-and-sothebys","name":"Sotheby's becomes defendant in Bored Apes-MoonPay lawsuit as confidential witness added","type":"news_article","credibility":2},{"url":"https://coingeek.com/did-moonpay-give-hollywood-celebs-bored-ape-nfts-to-pump-their-price-and-boost-its-profile","name":"Did MoonPay give Hollywood celebs Bored Ape NFTs to pump their price and boost its profile?","type":"news_article","credibility":2},{"url":"https://www.theblock.co/news/business/2023-05-30-moonpay-insiders-pocket-150-million-the-information-232592","name":"MoonPay insiders pocketed $150 million weeks before CEO bought $38 million mansion: The Information","type":"news_article","credibility":2},{"url":"https://ca.investing.com/news/cryptocurrency-news/moonpay-executives-collected-150-million-during-crypto-market-peak-3007499","name":"MoonPay executives collected $150 million during crypto market peak","type":"news_article","credibility":2},{"url":"https://fortune.com/crypto/2023/05/31/moonpay-150m-cash-out-crypto-crash","name":"MoonPay $150M cash-out before crypto crash","type":"news_article","credibility":2},{"url":"https://www.theblock.co/news/regulation/2025-07-12-moonpay-executives-may-have-sent-250000-to-nigerian-scammer-doj-filing-suggests-362339","name":"MoonPay executives may have sent $250,000 to Nigerian scammer, DoJ filing suggests","type":"news_article","credibility":2},{"url":"https://decrypt.co/331384/doj-blames-court-error-after-trump-linked-crypto-scam-docket-briefly-sealed","name":"DOJ Blames Court Error After Trump-Linked Crypto Scam Docket Briefly Sealed","type":"news_article","credibility":2},{"url":"https://digitalmoneybox.com/news/blockchain/moonpay-secures-wisconsin-license-expands-presence-in-us-crypto-market","name":"MoonPay Secures Wisconsin License, Expands Presence in U.S. Crypto Market","type":"news_article","credibility":2},{"url":"https://kucoin.com/de/news/flash/moonpay-secures-mica-license-from-dutch-financial-authority","name":"MoonPay secures MiCA license from Dutch financial authority","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/business/2021/11/22/payments-infrastructure-firm-moonpay-raises-555m-at-a-34b-valuation/","name":"Payments Infrastructure Firm MoonPay Raises $555M at a $3.4B Valuation","type":"news_article","credibility":2},{"url":"https://blockworks.co/news/moonpay-marshals-555m-in-series-a-funding-round","name":"MoonPay Marshals $555M in Series A Funding Round","type":"news_article","credibility":2},{"url":"https://solana.com/breakpoint/schedule","name":"Solana Breakpoint 2026 Schedule","type":"official","credibility":2}],"source_tags":[],"addresses":[],"reviewed":false,"reviewed_by":null,"model_used":"claude-code-investigator","created_at":"2026-11-05T20:13:45.791023+00:00","updated_at":"2026-11-05T20:13:56.079+00:00"},"source_quality":{"total":14,"tier1":0,"tier2":7,"tier3":0,"unrated":7},"follower_count":null,"content_updated_at":"2026-11-05T20:13:46.134Z","last_fact_checked_at":null,"fact_check_next_allowed_at":null,"update_next_allowed_at":null}