Cryptsy in disarray
The popular cryptocurrency trading site Cryptsy.com has been having some noticeable issues these past few hours. Users of Cryptsy have been reporting negative balances, frozen transfers, suspended withdrawals. Speculation is that a recent update is causing the issues. Cryptsy is aware of the issues, but no official statement has been released yet. Who's been hit? I spoke to BlackDogeOfWallSt, one of the developers of BlackCoinPool.com (BCP), which has probably been the hardest-hit community from Cryptsy's problems. BCP has had to delay their payments due to the problems. BCP's payouts have....
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Skye Bonnow is an altcoin trader that had 140 BTC swiped from his Cryptsy account in January of 2014. Skye maintains that he adhered to Cryptsy's Terms and Conditions and was still utterly defrauded of his bitcoins. The lawsuit is currently seeking the maximum damages for the lost coins: treble the amount of the current usd value, or $180,000. Skye is using Silver Law Group to bring his claims against Paul Vernon and Cryptsy, who operate as PROJECT INVESTORS, INC. Also read: Cryptsy in Disarray. The Cryptsy Hack. Earlier this year, certain users started to notice that they could withdraw....
Recently a Bitcoiner who goes on Reddit by the name alkinsonf began posting a series of complaints against the popular exchange Cryptsy. The user declared that after a brief time of uninterrupted trading, his account was locked with over 175 Bitcoin in it. The user sent several requests for support, as you can imagine, and was not immediately helped. Finally, it was revealed that he would need to verify his identity. Living in Ukraine, the user has had some degree of difficulty doing this since things are in disarray with the civil war that's going on there. For its part, Cryptsy had no....
A user on Reddit just explained that he was able to withdraw 60 Bitcoins from Cryptsy even though his balance was 0. His current balance is now -60. This guy must be one of the most honest Bitcoin users out there, letting Cryptsy know about the failure and even sending the Bitcoins back. As he says, it is someone elses Bitcoins. Creds for this guy. He writes: I have sent back the 60 BTC I was mistakenly able to withdraw from Cryptsy. If this affected you too, please do the same. Don't take someone else's bitcoin. Xmas is coming up : ). We advice all of our readers to withdraw their OWN....
This writer has received more complaints about Cryptsy since his last story on the subject than he has billing notices. Seriously. Some of them were messages of support, some were further complaints. Most of them had a common theme: Cryptsy won’t let the customer withdraw his or her funds. Within the last 24 hours, Cryptsy had some serious downtime. Their message was simple and, at this point, expected: “Trade engine and withdrawals paused while we investigate cause of lag. Your patience is appreciated. Thank you.” Something should be gotten out of the way: with as many dissatisfied....
Today, the Cryptsy team has a total liability of 10,000 BTC, which based on the price of bitcoin at the time of writing is equivalent to US$3.8 million. As of now, the Cryptsy team is is trying to find a new owner or an investor to take over the exchange. The Cryptsy team considers “Spread the loss to all users in the system and allow trades to continue.” The alleged operator of Cryptsy stated that many suggested this option for the Cryptsy team to implement. However, by the looks of the users, it seems like not many users will be willing to adapt to this “solution.” Cryptsy, amid various....