Cryptocurrency Exchange Cryptsy and Owner Paul Vernon Face Lawsuit
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....
Related News
According to the Miami New Times, Cryptsy founder Paul Vernon, otherwise known as “Big Vern,” has spoken to the publication while in hiding. The New Times ran a report on Cryptsy last week, and according to Vernon’s wife he dipped off to China with a girlfriend. Apparently, after this article was published, Vernon reached out to the news outlet willing....
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....
Moreover, Cryptcracker has agreed to return the funds in exchange for a 13% bounty, which will add up to roughly 2,000 Bitcoin. That is still a very significant amount of “clean” money to deal with after such a major breach, albeit it pales in comparison to the funds controlled by this person right now. What is particularly worrying is how this announcement makes no mention about the addresses where this fund is being kept. Cryptsy used to be one of the more prominent Bitcoin and altcoin exchanges in the realm of digital currency, even though there have always been minor issues with the....
Florida-based exchange Cryptsy trades in over 130 cryptocurrencies, and cryptocurrencies alone. There are no government-denominated currency trading pairs on the exchange. At least, not yet. Cryptsy regularly exceeds 2,300 BTC in volume on a 24-hour basis. That makes it the largest crypto-to-crypto exchange, at which people routinely trade altcoins for bitcoin, and vice versa. So, where did the idea of a cryptocurrency-only altcoin exchange come from? How does Cryptsy decide to add new coins? And will the company take compliance seriously when it adds fiat into its enormous mix of digital....
In what has been one strange and cryptic piece of news after another about the troubles that Cryptsy and its founder have been surrounded by, an update of the class action lawsuit against them has been released and it expands the subjects of whom is liable for the lost assets over the past year and a half. In what seems to be a mixture of both information compiled from Cryptsy’s last updates of their blog, the founder Paul Vernon’s Twitter account and some individually investigated findings, the class-action lawsuit’s updates increase the level of criminal allegations against Cryptsy....