Topic: Any truth to this? Cryptsy lawsuit? (Read 5986 times)

It also says something along the lines of the plaintiff believing that BTC sent to one wallet address should remain in that wallet address in a specifically isolated account from other users BTC, and that this should be a standard on all exchanges.

First off, a fudrucker?  Feels like you're trying to devalue what I've said with an inaccurate label! This is personal observation and experience through a reasonable scope.  My accusation had validity due to your hugely generalized, naive and trusting assumption ("never scammed anyone").  How could you even begin to make that assumption, are you aware of all deposits, withdrawals, and tickets that go through cryptsy?  

Second- it's under 50 bucks, not worth my time to chase outside of occasionally reminding the support of their incompetence.  Luckily I learned this lesson before investing a few thousand into various crypto though!

Here's the old PHS thread on a page with a few people talking about their coins in limbo btw: https://bitcointalk.org/index.php?topic=292720.1300

Looks like some one has an alternative agenda here. The plaintiff and law firm is probably working closely with a competing exchange.

what the law firm and plaintiff did was completely unprofessional and violated the terms he agreed to.

I hope Cryptsy sues them into poverty for damages from the fud they are spreading.

Cryptsy offers the tools and information necessary to secure ones account.

If you don't take your personal pc security seriously that is your fault period....


~Cassie

You call me a shill, I call you a fudrucker, and the cycle of crypto accusations continues! If you think you have a case why dont you contact a lawyer?

That's plainly false.  I have seen (and experienced) a few cases where cryptsy:
 Misses a wallet update -> sends out altcoins on the wrong fork -> never reimburses the users.  Read through some old PHS and IFC threads if you're interested- although I can tell you're pretty much a shill for cryptsy and you won't care to look into their faults.

I've had PHS stuck in their glitchy system for over six months, with support ignoring me or shuffling me between "support tiers".  It's the worst experience I've had with anything financial online- and I play money games!  I chalk these up to a loss, aka scammed by cryspty.  I imagine they've done this to hundreds of individuals; "lose" a bit of their coins and keep it forever trapped with shitty support. 

I only hope their incompetence catches up with them )

I remember it and you Has the axe been grinned enough yet?

That comment doesnt really hold any merit when your tag line is "honk if you hate cryptsy".

Thing is, cryptsy never scammed anyone.

All this looks so bad. Is there any good exchange at all?  If there will be exchanges scamming people one way or another every month, crypto will not move anywhere at all.

The Cryptsy lawsuit is about someone allegedly losing 140BTC via trades on the exchange despite maintaining control of his/her account, then alleges that Cryptsy transferred all BTC out of the account.

It also says something along the lines of the plaintiff believing that BTC sent to one wallet address should remain in that wallet address in a specifically isolated account from other users BTC, and that this should be a standard on all exchanges.

Response regarding lawsuit

There was quite a bit of PR pushed out yesterday from a law firm that stated that they were filing a lawsuit against Cryptsy and myself. The complaint alleges that Crytpsy misled users and was negligent in security. They represent a single user.  We have close to 300,000 users at this point. We have reviewed the unofficial complaint and believe that it is without merit. We intend to defend the case vigorously.

We would like to note that we have not received any documentation or official notification concerning any lawsuit yet.  We also find it unprofessional that the law firm decided to push out such a large PR campaign prior to serving any notice.  It should also be noted that according to the user terms of our site, disputes are to be handled via arbitration.  

We realize that there have been a few ”Bad Actors” in the crypto-currency space running exchanges and other services.  Cryptsy strives for transparency and doing what is right.  This lawsuit attempts to place us in the same group as many of these bad actors, but this is simply not how we operate.  We are not a fly by night operation, we are a company that plans to be around for a long time.   Our desire is to be the model of how to operate a crypto business.

As I’m sure many of you are aware, we take security very seriously.  We pride ourselves on being one of the most secure places to trade on the internet.  The crypto-currency space has been the target for a lot of hackers over the last year due to the increase in value of Bitcoin.  These hackers  not only target Cryptsy users, but users of many other Bitcoin services.  

In this case the attack on the user making the claim came from within their own computer.  This is currently one of the most common attacks by hackers.   While we try to educate our users on how to secure their local environment, we ultimately have no control of a users computer system.

So as a reminder I’d like to reiterate a few security tips:

- Do not leave your computer logged into your Cryptsy account when you are away from your computer

- Do not install browser extensions from unknown developers

- Do not install mining software from unknown developers on the same computer you use to access Cryptsy

- Run a virus scan regularly.  

- Make sure you use 2fa on your Cryptsy account

Paul Vernon
"BigVern"
Cryptsy.com