Move To New Ledger System Causes Cryptsy Service Issues
Users of the Cryptsy digital currency exchange were likely sweating upon logging in and seeing incorrect balances listed on their accounts Wednesday night into Thursday. As is common in the bitcoin community, a number of of the site's traders took to social media to report of their findings, leading some to question whether the service was compromised. Turns out it wasn't. Cryptsy has published a post-mortem report on their blog with an explanation as to what was causing inaccurate client balances. It started with what was a plan to make their system more efficient: "As we have grown, the....
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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....
For nearly twelve hours, Cryptsy.com, an elder "alt coin" exchange which has been the subject of semi-regular community outrage for various reasons, has been inaccessible. According to one of the exchange's proprietors, Paul Vernon, the site has suffered a DDoS attack not unlike the one CCN has been experiencing as of late. Website offline due to denial of service attack. We are working to mitigate. - BigVern (@cryptsy) November 25, 2015. The difference is that CCN has managed to come back online in a matter of a couple hours, not half a day. More importantly, CCN isn't holding onto....
Since the beginning of 2015, an increasing number of active traders in cryptocurrency exchange platform Cryptsy have begun to report issues with withdrawals and technical glitches preventing large settlements. At the time, the Cryptsy team told Joseph Young in an email that its development team tried to fix the technical problems as they came up. However, because of various hardware and server upgrades, Crypsty told users that they may experience problems withdrawing larger transactions. “We did and on occasion still do have technical problems that occur but generally we try to fix them as....
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....