Plaintiffs Reach Settlement With One Cryptsy Defendant
Plaintiffs seeking to recover losses from Cryptsy, the defunct, Florida-based cryptocurrency exchange that claimed to have lost more than $5 million due to theft, have reached a settlement with one of the defendants, although the principal defendant remains at large, according to a court filing. The plaintiffs reached a settlement in excess of $1 million from defendant Lorie Ann Nettles, depending on proceeds of asset liquidation, according to the filing in the United States District Court, Southern District of Florida. Principal defendant Paul Vernon is believed to have fled to China with....
Related News
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....
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 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....
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....
A Florida court has frozen the assets of the digital currency exchange Cryptsy and placed it under receivership, months after it collapsed amid claims that it had been the target of a hack. The court-appointed monitor, James Sallah, was selected after a request by the plaintiffs in a class action law suit filed against the exchange in January. That lawsuit stemmed from problems with customer fund withdrawals that had worsened for months before withdrawals and trading activities were suspended entirely. Prior to its shutdown, Cryptsy said that it had outstanding customer liabilities of....