Yeah, this is for real. they are having it!
I just hope they BANG those Craptsy Creeps real Good.
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.
Taking this logic, your money on your bank account should remain intact 'physically' so bank may not 'borrow' it to give loans e.t.c. Good idea. It would kill the banking business.
Besides all exchanges should have a third party entity to serve as kinda an escrow, or simply by using multisig to prevent exchanges to run away with our money.
New Thread regarding what is going on at Crytpsty right now https://bitcointalk.org/index.php?topic=1326386.new#new
Tether-ball it is! Haha. You are right though, everyone has room for improvement. I apologize for coming off as shilling that wasnt my intention but in hindsight I can definitely see why you would say that. I just feel very confident about cryptsy and their track record has been the cleanest of all the exchanges, its been around the longest and hasnt had any catastrophic "hack". They were registered with fincen before anyone else and has made it a priority to stay with in the boundaries of the law.
Doesnt look legit imho
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
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.
Thing is, cryptsy never scammed anyone.
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
)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?
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
Isnt that what you did when you said I was a shill? I was only returning the favor and garnering another bump of the thread.
I believe you btw about the PHS I remember there being a problem with their chain. Im just saying dont call me names and id take you more serious.
You took their side in a way that seemed ignorant and naive (this is how I perceive shills). Sorry about that, I spose I meant to say it was a...
"shilly thing to say"
https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcSUTAfUwWMIZj-18mBGXzUYP7Py8bK-lPcdzGsIfgAzpyDsI_h_
for the record i'd still play tetherball with you
edit:
Let me reiterate, I dont think they have ever woke up and said "today im going to scam people for some altcoins". Unlike the other blatantly intentional scams that are so coveted by the crypto community.
I agree, but they aren't keen on fixing situations that produce the same outcome of missing funds
Coinhumper is realsolid the owner of mcxnow so yes there is an agenda.
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
Finally someone with some sense.
BTW cassie how you been. Send me your email so I can invite you into the new collective chat.
Been great thnx, just busy as always
I will pm you with my email.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
Finally someone with some sense.
BTW cassie how you been. Send me your email so I can invite you into the new collective chat.
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
did Mullick tell you that ?
i find it odd you would have found that out defaced.
thanks for the info though..
it may be hard for them to prove anything on Cryptsy i think.
and the other guy / service i never heard of..
edit:
in case some guys don't know the OP here has been good buddies with mods on Cryptsy going back at least mid-last year.
i was on a pool defaced ran for example that had me and Mullick on it for example.
and yeah he did a great job running the pool
edit2:
By the way.. you misspelled "Truth" in your topic title, it's actually spelled F U D
i find it odd you would have found that out defaced.
thanks for the info though..
it may be hard for them to prove anything on Cryptsy i think.
and the other guy / service i never heard of..
edit:
in case some guys don't know the OP here has been good buddies with mods on Cryptsy going back at least mid-last year.
i was on a pool defaced ran for example that had me and Mullick on it for example.
and yeah he did a great job running the pool
edit2:
By the way.. you misspelled "Truth" in your topic title, it's actually spelled F U D
Seriously, you never heard of Trendon Shavers and you're supposedly this big crusader in the bitcoin world? FFS, man, he made headlines in the mainstream. Wow, dude, you gotta come up for air once in a while.
Let me reiterate, I dont think they have ever woke up and said "today im going to scam people for some altcoins". Unlike the other blatantly intentional scams that are so coveted by the crypto community.
Doesnt look legit imho
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
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.
Thing is, cryptsy never scammed anyone.
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
)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?
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
Isnt that what you did when you said I was a shill? I was only returning the favor and garnering another bump of the thread.
I believe you btw about the PHS I remember there being a problem with their chain. Im just saying dont call me names and id take you more serious.
Doesnt look legit imho
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
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.
Thing is, cryptsy never scammed anyone.
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
)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?
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
Cryptsy has been scamming since the begining. They are simply better now that they have better resources. Hope they crash and burn from this.
That comment doesnt really hold any merit when your tag line is "honk if you hate cryptsy".
In the USA and in particular the Southern USA it is a sign of supprt, as in support for "Hating Cryptsy"
If you think I am in anyway a fan of Craptsy, then I refer you to my (now 22 page thread) thread from last year where I filed a complaint with Florida AG as I live in Florida.
https://bitcointalksearch.org/topic/deleted-by-request-361514
I remember it and you
Has the axe been grinned enough yet?No it hasn't. If mcxNOW would expand its base, Cryptsy would be dead.
mcxnow lol now it allll makes seeense!
Cryptsy has been scamming since the begining. They are simply better now that they have better resources. Hope they crash and burn from this.
That comment doesnt really hold any merit when your tag line is "honk if you hate cryptsy".
In the USA and in particular the Southern USA it is a sign of supprt, as in support for "Hating Cryptsy"
If you think I am in anyway a fan of Craptsy, then I refer you to my (now 22 page thread) thread from last year where I filed a complaint with Florida AG as I live in Florida.
https://bitcointalksearch.org/topic/deleted-by-request-361514
I remember it and you
Has the axe been grinned enough yet? Cryptsy has been scamming since the begining. They are simply better now that they have better resources. Hope they crash and burn from this.
That comment doesnt really hold any merit when your tag line is "honk if you hate cryptsy".
Doesnt look legit imho
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
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.
Thing is, cryptsy never scammed anyone.
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
)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?
CoinTelegraph story, reveals that the Cryptsy plaintiff is someone called Skye Bonow
http://cointelegraph.com/news/112792/florida-law-firm-files-two-lawsuits-against-cryptsy-and-bitcoin-savings-and-trust
http://cointelegraph.com/news/112792/florida-law-firm-files-two-lawsuits-against-cryptsy-and-bitcoin-savings-and-trust
Doesnt look legit imho
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
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.
Thing is, cryptsy never scammed anyone.
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
)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.
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.
Heres Cryptsy's reply:
from http://blog.cryptsy.com/
Quote
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
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
So, one unhappy Cryptsy user is behind the suit, and his issue is that BTC has 'evaporated' from his wallet.
I had a similar feeling buying CraftCoin.....
Anyone got any ideas about the Bitcoin Savings and Trust suit ? That scam is so old, it even pre-dates MtGOX, so who's putting up the cash to pursue it?
A vulture
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.
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.
Heres Cryptsy's reply:
from http://blog.cryptsy.com/
Quote
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
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
So, one unhappy Cryptsy user is behind the suit, and his issue is that BTC has 'evaporated' from his wallet.
I had a similar feeling buying CraftCoin.....
Anyone got any ideas about the Bitcoin Savings and Trust suit ? That scam is so old, it even pre-dates MtGOX, so who's putting up the cash to pursue it?
Doesnt look legit imho
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
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.
Thing is, cryptsy never scammed anyone.
Ive been having troubles logging in now for about an hour, The charts are not updating either, Lucky for me I was warned by an early adopter that we need to take all of our coins out of the exchanges asap about a week ago. Anybody else having problems with the site?
Looks like a sockpuppet trying to take advantage of cryptsy maintenance to plant a little fud. The devil never sleeps.
Bitcoin Savings and Trust was/is a frikking huge BTC scam:
https://www.techdirt.com/articles/20130723/16121723913/sec-confirms-that-bitcoin-savings-trust-was-ponzi-scheme-files-lawsuit.shtml
700.000 Bitcoin collected, apparently.
https://www.techdirt.com/articles/20130723/16121723913/sec-confirms-that-bitcoin-savings-trust-was-ponzi-scheme-files-lawsuit.shtml
700.000 Bitcoin collected, apparently.
those will be dumped, and this is why btc is declining so badly, if people stop following this no sense-shitty ipo campaign
when did you crawl out from under your rock?BS&T happened years ago. Perpetrator was fined $40 million USD already
Doesnt look legit imho
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
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.
Cryptsy has always had issues with regards to stability. Don't let that fool you into thinking its going down at any moment.
I just use them for shitcoins that get delisted elsewhere (bittrex, ccex, polo, etc.). Cryptsy does not go delist crazy like the other guys and therefore deserves respect.
I will probably use them more now that Mintpal is toast.
As far as the lawsuit goes; sensationalism.
Regarding Chinese exchanges: Search ' Vircurex ' before you send your money off.
I just use them for shitcoins that get delisted elsewhere (bittrex, ccex, polo, etc.). Cryptsy does not go delist crazy like the other guys and therefore deserves respect.
I will probably use them more now that Mintpal is toast.
As far as the lawsuit goes; sensationalism.
Regarding Chinese exchanges: Search ' Vircurex ' before you send your money off.
Ive been having troubles logging in now for about an hour, The charts are not updating either, Lucky for me I was warned by an early adopter that we need to take all of our coins out of the exchanges asap about a week ago. Anybody else having problems with the site?
We are doing some maintenance right now that wasnt expected to occur for another few days but became a problem so it had to be done now. Wont be long
Never used the site, don't think i'm gonna sign up anytime soon man, F-that!
If anything the chinese exchanges are even more stable than that crap!
If anything the chinese exchanges are even more stable than that crap!
http://blog.cryptsy.com/post/100831839452/response-regarding-lawsuit
Never used the site, don't think i'm gonna sign up anytime soon man, F-that!
If anything the chinese exchanges are even more stable than that crap!
Link me chinese exchanges pls If anything the chinese exchanges are even more stable than that crap!
Crazy.
Ive been having troubles logging in now for about an hour, The charts are not updating either, Lucky for me I was warned by an early adopter that we need to take all of our coins out of the exchanges asap about a week ago. Anybody else having problems with the site?
I was a bit earlier, but was just able to login now. Took a while though.
Ive been having troubles logging in now for about an hour, The charts are not updating either, Lucky for me I was warned by an early adopter that we need to take all of our coins out of the exchanges asap about a week ago. Anybody else having problems with the site?
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.
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.
hmm i think i saw some guy like that maybe last last year making some claim like that on their chat box and months before too..
we all laughed at him and told him get better at trading lol
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.
Taking this logic, your money on your bank account should remain intact 'physically' so bank may not 'borrow' it to give loans e.t.c. Good idea. It would kill the banking business.
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.
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.
Bitcoin Savings and Trust was/is a frikking huge BTC scam:
https://www.techdirt.com/articles/20130723/16121723913/sec-confirms-that-bitcoin-savings-trust-was-ponzi-scheme-files-lawsuit.shtml
700.000 Bitcoin collected, apparently.
https://www.techdirt.com/articles/20130723/16121723913/sec-confirms-that-bitcoin-savings-trust-was-ponzi-scheme-files-lawsuit.shtml
700.000 Bitcoin collected, apparently.
those will be dumped, and this is why btc is declining so badly, if people stop following this no sense-shitty ipo campaign
Yea it seems he deff has a case for that one, but not so much on cryptsy. It looks like the cryptsy case is an ambulance chase.
700.000 Bitcoin collected ? WOW !
I never heard of that until this topic.. but i guess this is a FUD topic eh guys ..commence the crying LOL
will Cryptsy issue a statement about this ?
edit:
@defaced we posted at the same time hahah
thanks man but i don't know who jeebus is.
I never heard of that until this topic.. but i guess this is a FUD topic eh guys ..commence the crying LOL
will Cryptsy issue a statement about this ?
edit:
@defaced we posted at the same time hahah
thanks man but i don't know who jeebus is.
did Mullick tell you that ?
i find it odd you would have found that out defaced.
thanks for the info though..
it may be hard for them to prove anything on Cryptsy i think.
and the other guy / service i never heard of..
edit:
in case some guys don't know the OP here has been good buddies with mods on Cryptsy going back at least mid-last year.
i was on a pool defaced ran for example that had me and Mullick on it for example.
and yeah he did a great job running the pool
edit2:
By the way.. you misspelled "Truth" in your topic title, it's actually spelled F U D
i find it odd you would have found that out defaced.
thanks for the info though..
it may be hard for them to prove anything on Cryptsy i think.
and the other guy / service i never heard of..
edit:
in case some guys don't know the OP here has been good buddies with mods on Cryptsy going back at least mid-last year.
i was on a pool defaced ran for example that had me and Mullick on it for example.
and yeah he did a great job running the pool
edit2:
By the way.. you misspelled "Truth" in your topic title, it's actually spelled F U D
Yea im friends with most of the cryptsy staff, but this was posted on twitter by jeebus first. That is where I found it anyways.
Bitcoin Savings and Trust was/is a frikking huge BTC scam:
https://www.techdirt.com/articles/20130723/16121723913/sec-confirms-that-bitcoin-savings-trust-was-ponzi-scheme-files-lawsuit.shtml
700.000 Bitcoin collected, apparently.
https://www.techdirt.com/articles/20130723/16121723913/sec-confirms-that-bitcoin-savings-trust-was-ponzi-scheme-files-lawsuit.shtml
700.000 Bitcoin collected, apparently.
those will be dumped, and this is why btc is declining so badly, if people stop following this no sense-shitty ipo campaign
Bitcoin Savings and Trust was/is a frikking huge BTC scam:
https://www.techdirt.com/articles/20130723/16121723913/sec-confirms-that-bitcoin-savings-trust-was-ponzi-scheme-files-lawsuit.shtml
700.000 Bitcoin collected, apparently.
Edit: and, yeah, the law firm in question look legit and competent:
http://www.lawyers.com/coral-springs/florida/david-c-silver-157627922-a/
www.silverlaw.com
https://www.techdirt.com/articles/20130723/16121723913/sec-confirms-that-bitcoin-savings-trust-was-ponzi-scheme-files-lawsuit.shtml
700.000 Bitcoin collected, apparently.
Edit: and, yeah, the law firm in question look legit and competent:
http://www.lawyers.com/coral-springs/florida/david-c-silver-157627922-a/
www.silverlaw.com
did Mullick tell you that ?
i find it odd you would have found that out defaced.
thanks for the info though..
it may be hard for them to prove anything on Cryptsy i think.
and the other guy / service i never heard of..
edit:
in case some guys don't know the OP here has been good buddies with mods on Cryptsy going back at least mid-last year.
i was on a pool defaced ran for example that had me and Mullick on it for example.
and yeah he did a great job running the pool
edit2:
By the way.. you misspelled "Truth" in your topic title, it's actually spelled F U D
i find it odd you would have found that out defaced.
thanks for the info though..
it may be hard for them to prove anything on Cryptsy i think.
and the other guy / service i never heard of..
edit:
in case some guys don't know the OP here has been good buddies with mods on Cryptsy going back at least mid-last year.
i was on a pool defaced ran for example that had me and Mullick on it for example.
and yeah he did a great job running the pool
edit2:
By the way.. you misspelled "Truth" in your topic title, it's actually spelled F U D
If nothing has been filed, nothing will happen for sure
Yes
Apparently the lawsuit is real, but are the claims? That is the question.
Not that I have experienced. Most likely just fishing for clients
Playing devils advocate here, I did notice this as well. On the other hand, your employer (crypsty) has screwed me over quite a few times in the past, so I can also see his side.
What ever happens good luck.
They are both in Florida?
reading...
reading...
Yes, page 14 gives the amount a customer who says his account was emptied of bitcoins wants in damages from Cryptsy. It says
The present-day amount which we know is subject to the Florida Civil Theft statute is
$60,000.00. Treble damages therefore equal $180,000.00. For now, we are making this demand only
upon you; but at such time as we determine what was done with my client’s property, additional
demands may be made.
They are both in Florida?
reading...
reading...
It seems legit. Apparently you can read the entire filed complaint here, but I have not had a chance to read it yet.
http://www.silverlaw.com/files/BitcoinComplaint.pdf
http://www.silverlaw.com/files/BitcoinComplaint.pdf
What looks most legit is the "sample road"
I agree the road name sounds like a made up name, but here is the google map link to it.
https://www.google.co.uk/maps/place/11780+W+Sample+Rd,+Coral+Springs,+FL+33065,+USA/@26.272738,-80.2847226,15z/data=!4m2!3m1!1s0x88d90ffc7b96c391:0x741a886eecd372b8?sa=X&ei=Zp9JVPKkB6be7AaM3oHYCA&ved=0CCAQ8gEwAA
Silver law group of 11780 West Sample Road appears in this Corporation Search, so it looks like it's a real law firm.
http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail/EntityName/trade-t12000001123-bfa00bb2-bd3c-4c75-a905-509f6213edb1/SILVER%20LAW%20GROUP%20/Page1
Finally, silverlaw.com domain is registered by Silver law group of 11780 West Sample Road, according to this search.
https://who.godaddy.com/whoisstd.aspx?domain=silverlaw.com&prog_id=GoDaddy&k=LAtQrABq9963C+ERQ2qotl64vR0gmWzcjCUlY2%2fYbjlyK7j9tHL%2fMUzesbHbqkac
Yes
Apparently the lawsuit is real, but are the claims? That is the question.
Not that I have experienced. Most likely just fishing for clients
Yes
Apparently the lawsuit is real, but are the claims? That is the question.
Yes
It seems legit. Apparently you can read the entire filed complaint here, but I have not had a chance to read it yet.
http://www.silverlaw.com/files/BitcoinComplaint.pdf
http://www.silverlaw.com/files/BitcoinComplaint.pdf
What looks most legit is the "sample road"
It seems legit. Apparently you can read the entire filed complaint here, but I have not had a chance to read it yet.
http://www.silverlaw.com/files/BitcoinComplaint.pdf
http://www.silverlaw.com/files/BitcoinComplaint.pdf
Doesnt look legit imho
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/
Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon). According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions. While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared. Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear. On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.
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