Cryptsy Class Action to Settle With Ex-Wife of Troubled CEO
The plaintiffs in a class action lawsuit filed after the collapse of Florida digital currency exchange Cryptsy are moving to settle with one of its defendants. Lorie Ann Nettles, the former spouse of Cryptsy CEO Paul Vernon, was named as a co-defendant in the class action, which was initiated in January. The lawsuit was filed after the now-defunct exchange claimed that it had been hacked two years prior, leaving it with millions of dollars in customer liabilities. Cryptsy’s collapse followed months of growing problems with customer withdrawals. Vernon later claimed that the exchange's....
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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....
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....
The updated lawsuit filed by Silver Law Group (SLG) and Wites & Kapetan names Cryptsy’s head Paul Vernon and his wife Lorie Ann Nettles as defendants. The class action lawsuit filed against Bitcoin exchange Cryptsy has just been updated with the name of one more defendant. The updated lawsuit filed by Silver Law Group (SLG) and Wites & Kapetan names Lorie Ann Nettles – Paul Vernon’s former wife – as the new defendant. It says that both the individuals, who operated an online business for public to trade and exchange Bitcoin and similar cryptocurrencies, prevented customers from....
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....
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....