Lawsuit Against Cryptsy To Proceed As Planned Despite Theft Claim
As the situation surrounding Crypsy continues to unfold, we saw the company post a blog entry stating that the majority of the funds within the company were stolen over a year ago and that that company has been insolvent for quite some time for a variety of reasons, one mainly being the theft of 13,000 BTC and 300,000 LTC. This announcement was coincidentally made just a day after Cryptsy was informed that a class-action lawsuit was being filed against them. So now what? Currently, Cryptsy seems to be in too big of a financial hole to dig itself out no matter what happens and is....
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Florida Law Firm, Silver Law, has filed lawsuits against two Bitcoin companies on behalf of users who claim damages due to either company negligence or intentional intent malice. The Cryptsy lawsuit is the more interesting of the two, as Bitcoin Savings & Trust's Ponzi scheme was revealed so long ago even the SEC has officially dubbed it as such. Silver Law's press release unfortunately lumps the two companies together, even while the alleged actions of the two are far different. Silver Law, on behalf of its client, Skye Bonow, accuses Cryptsy of exaggerating its security protocols and....
Following months of uncertainty & customer withdrawal difficulties, Cryptsy has revealed that it can no longer go on, in its current state. The digital currency exchange claimed in a blog post today that it was the target of a bitcoin wallet theft on July 29, 2014. The ‘critical event’, as Cryptsy deemed it, has the exchange alleging that 13,000 BTC, approximately, was stolen. The exchange also claimed a theft of 300,000 LTC, approximately. Cryptsy alleges the developer of Lucky7Coin behind the theft, claiming the developer placed an IRC backdoor with Trojan or command and control....
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....
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....
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....