Cryptsy Update: Court Freezes Bitcoin Exchange's Assets, Appoints Receiver
A federal court has appointed a receiver for Cryptsy, the cryptocurrency exchange that claims to have lost $5 million in funds to theft. In response to the lawsuit by Cryptsy clients seeking to recover their funds, the U.S. District Court Southern District of Florida appointed James D. Sallah, Esq. as the receiver and given him control of Cryptsy’s assets. The court has taken possession of Cryptsy’s assets, “of whatever kind and wherever situated.” All powers of the company’s agents, employees, officers and directors are suspended. The court assigned the receiver in response to a suit by....
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Holders of Unobtanium (UNO) caught a break when the Bittrex exchange noticed the assets of the largest UNO wallet strangely appeared on Bittrex and impounded it. The wallet had been somehow transferred from Cryptsy, an exchange that has been discontinued and its assets placed under court receivership. A Twitter post shows the UNO assets that appeared on the BIttrex exchange.While Cryptsy’s assets were placed under the control of a court receiver last year, the transfer of 15,000 UNO to Bittrex reveals that someone has access to Cryptsy assets and attempted to cash them. Bittrex....
Cryptsy CEO Paul Vernon may have stolen as much as $3.3m from the now-defunct digital currency exchange and destroyed evidence of his illicit actions. That's according to new court documents from the ongoing class action lawsuit filed against the troubled industry exec. A report from court-appointed receiver James Sallah, published on 2nd August, details efforts to take control of assets tied to Cryptsy, most notably the digital currency holdings sought by the exchange's former customers. The updates are the latest to follow Cryptsy's collapse in January, when after months of growing....
The court-appointed receiver for Cryptsy, the defunct, Florida-based cryptocurrency exchange that claims to have lost more than $5 million in investors’ funds to theft, has filed a report that identifies some of the banks and exchanges the defendants used in operating the scheme that left hundreds of investors without access to their accounts. The receiver, James D. Sallah, an attorney for Miami, Fla.-based Payton & Associates LLC, filed the report in the U.S. District Court Southern District of Florida. The court appointed Sallah as receiver last month in response to an investor....
One month after a Florida court first appointed a receiver in charge of troubled digital currency exchange Cryptsy, the representative has filed a report detailing efforts to retain information about the whereabouts of Cryptsy assets, as well as CEO Paul Vernon. Entered by receiver James Sallah, the filing comes months after users first began voicing concerns about their inability to withdraw funds from the exchange or receive clarity from its management on the status of such services. Back in January, two Florida law firms filed suit against Project Investors, the company that oversaw the....
Those who lost money in a 2016 U.S. crypto exchange heist maybe be entitled to additional recoupment. Last week, some former users of the now-defunct cryptocurrency exchange Cryptsy received a notice informing them of a new turn in the ongoing class settlement process. Authorized by the U.S. District Court for the Southern District of Florida, the document states that those who were defrauded in the 2016 collapse of the digital finance platform may be entitled to receive money from additional recovery.Cryptsy was a crypto exchange that went bust in January 2016 following months of....