Class Action Lawsuit Filed Against Digital Currency Exchange Cryptsy
Two Florida law firms have filed a class action lawsuit in US district court against digital currency exchange Cryptsy and its CEO, Paul Vernon. Filed in the US District Court for the Southern District of Florida on 13th January, the case alleges negligence, unjust enrichment, conversion and violation of Florida’s Deceptive and Unfair Trade Practices Act. The lawsuit was filed by Jinyao Liu, a Cryptsy customer based in Virginia. Liu, in addition to other members of the class, is being represented by Wites & Kapetan, PA and the Silver Law Group, the latter of which filed suit in state court....
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A Florida judge has certified a class action lawsuit filed on behalf of customers of the now-defunct digital currency exchange Cryptsy. In an order issued yesterday, US District Judge Kenneth Marra approved a request by plaintiffs for class action certification, originally filed on 27th July. According to the order, the certification covers all Cryptsy account holders as of 1st November, 2015. Specifically, it includes anyone "who held bitcoins, alternative cryptocurrencies or any other form of monies or currency" prior to that date on the exchange. The lawsuit dates back to....
One of the defendants in the class action lawsuit against Cryptsy cryptocurrency exchange, Lorie Ann Nettles enters into a settlement agreement involving liquidation of almost all of her assets. There have been few new developments in the ongoing class action lawsuit against the now defunct cryptocurrency exchange, Cryptsy. The Bitcoin exchange based out of Florida stopped its operations earlier this year. At the time of shutting down, the platform allegedly had accommodated liabilities of over $10 million, of which $5 million belonged to the customers. The class action lawsuit was filed....
A lawsuit filed against Coinbase alleges the money transmitter did not fulfil its regulatory requirements to do its due diligence and investigate Mr. Vernon’s activity and his Coinbase accounts. Coinbase Accounts Allegedly Held Stolen Funds. When $8.2 million in customer funds went missing from Cryptsy user accounts in 2014-15, a class action lawsuit was....
The plaintiffs in a class action lawsuit filed after the collapse of Florida digital currency exchange Cryptsy are moving to settle with one of its defendants. Lorie Ann Nettles, the former spouse of Cryptsy CEO Paul Vernon, was named as a co-defendant in the class action, which was initiated in January. The lawsuit was filed after the now-defunct exchange claimed that it had been hacked two years prior, leaving it with millions of dollars in customer liabilities. Cryptsy’s collapse followed months of growing problems with customer withdrawals. Vernon later claimed that the exchange's....
Adding to publicity issues experienced by the digital currency exchange Crypsy, Silver Law Group along with Wites & Kapetan, P.A. have filed a nationwide class action lawsuit in federal court against and it’s principal, Paul “Big Vern” Vernon. Over the past several months Cryptsy account holders have claimed that they’ve been denied access to their accounts and have been unable to protect or control their assets.The lawsuit claims that users have been denied any legitimate or substantive response from the company on behalf of their reasons for holding funds. The claim estimates that....