Topic: Class action lawsuit against Cryptsy.com (Read 6376 times)

Feel sorry for the people with funds stuck in this looks like cryptsy going to be another MTGOX situation, filing for bankruptcy and playing the waiting game and having to give next to nothing back. Shame cryptsy has gone the way it has done could of been so much more.

Not all advising against it are agents.  I think people think it will be very difficult to win this kind of lawsuit.  These kinds of things also bring the wrong kind of attention - legislators, rule makers - and also give BTC a bad name.

I like class action lawsuits, its easy money. Of course that's if your on the side that you recieve a random letter in the mail and you fill it out for $20

I feel a good part of the people advising against legal action may be Cryptsy agents. I also feel that we must make a class action lawsuit comprised of all the people who have lost altcoins and do this without asking for any BTC or LTC, thus rendering them defenseless. Those who have lost only BTC and LTC should go about in a separate class lawsuit, unconcerning altcoins.

I also feel that for the missing altcoins penal action is required, considering that if any altcoins are missing they have been purposely stolen / embezzeled by the Cryptsy staff and owner.

Nothing will happen with this sort of thing unless many bring a lawsuit and a number of people fighting against them. Has happens many times in the past to try bring justice and nothing actually happened other than that person wasting time and money putting it together. Simple solution is to just stop using their site. I have stopped over a year ago due to many problems and got my funds out and am skeptical about the future of cryptsy. I might one day return to trading on it but their far better exchanges out their with smaller fees and much better security.

you're right, totally understandable!

It is always hard though to succeed in court when it comes to trading mistakes. I had this very same problem in "conventional" markets with Futures & Options trading at PFGBest (=worst, in fact), and we also all know what happened to MF (Man Financial Group). So it is NOT a matter of that "bad-bad Bitcoin thing" but it happens in highly-regulated markets as well -- because government and authorities CANNOT and DO NOT EVEN WANT to protect you and me from losses like that (they're only interested in power games and war)...

So IMHO it will be very hard to successfully proceed with that.

If you haven't noticed, it's already mtgox 2.0 CONFIRMED
they claim their btc were stolen, so basically insolvent

What is happening with crypsy? Too many noise about them to be mtgox 2.0...

The amount is not big but it will cost them more then my stolen money. They steal my money to my friends too but he is not based in US.

There are limits as to how large of a claim you can bring to small claims court. You also had agreed to hear all disputes in a certain court when you agreed to the TOS with cryptsy

How is the situation with the lawsuit?
Cryptsy literally  stole my money and they support sucks and haven't been able to answer for more then 10 days. meanwhile the BTC deappriciated.

In California we can sue in Small Claims Court. If Cryptsy's owner or agent doesn't show up, the plaintiff wins. I sued a laptop battery dealer when he acted exactly as Cryptsy is acting. Easy win when the judge and I caught them lying!
Larry

Cryptsy has stolen CENT coins from me so far as I can tell at this point.

They ignore all support requests for any answers what-so-ever about my CENT.

At this point I have to assume they have "stolen" them.

This is not consistent with their mission statement:
"Provide a safe environment for users to trade crypto-currencies with other users in an efficient and easy to use manner. "
(copied and pasted from this link: https://www.cryptsy.com/pages/about)

I encourage others in similar situations to submit claims to the Better Business Bureau (BBB) of South East Florida, as this is where Cryptsy is filed as a Business.

Steps:

Go to this link:
www.bbb.org/south-east-florida/

In the search box on that page:
type cryptsy where is says "Search for Businesses"

When you see the following business listing, click the button that says "File a Complaint"
Cryptsy
8656 Tourmaline Blvd
Boynton Beach, FL 33472

The next page will have a green button stating "Start your complaint"
Click the button to

Select the most appropriate category that your complaint will include - I think I chose Business's advertising - since I have found that Cryptsy is clearly not a a "safe place" and also their social media postings stating "your coins are safe with us" is bullshit.

Then continue forward and file your complaint with as much detail as possible, including dates and dollar/currency amounts, etc.

If we all file enough of these things, something has to happen to their reputation when people research whether or not they should use them. Plus Cryptsy has the option of responding to your complaint, if they disregard it, the BBB may post the results of non-response, etc... so let us know what happens and I'll do the same.

Hmmm ... the exchange system IS a mess. And people still don't have a clue how to create informative (web) user interfaces (UI) or a decent user interface experience (UIX).

I'm not a big fan of the "teething problems" excuse either ... it just means someone released a product way before adequate testing was completed (most likely driven by greed).

In this day and age of technology you would of thought architects and programmers et al would of got their act together by now. After all many forex systems have been built before now. It's been over 3 decades since the PC and the programming industry "grew up" and gained significant experience in real-time systems.

In short there is no excuse for incompetence.

If you don't have the funds, skills and experience to create a professional working exchange then don't foist some half-baked system on us.

Also, why I'm at it, improve your communications Cryptsy. So a lousy blog (with not date/time indicators for each post) is just amateurish. And a Twitter feed with 1 Tweet every day isn't exactly insightful. Be more transparent. Communicate more frequently. Don't bullshit (people smell bs a mile away).

You'l get more understanding from people if you communicate openly and honestly.

I do wish Cryptsy every success, but until they improve by leaps and bounds, I think their service and system, well, frankly sucks because it is undependable. In my opinion there should be no room (or tolerance) for amateurs in such an important market as a financial exchange, especially if they cannot be held accountable for their operation.

just get it off your chest mate , i dont think any of this is intentional, just hickups and growing pains on there behalf. Blame DogeCoin for that, i dont think they where expecting such volume hehe

I think it would be really hard to get a lawyer who wants to have anything to do with crypto currency because let's face it, it's a new thing. And lawyers don't want to spend money and time on a case where they son have much chance of winning.

If nobody filed a lawsuit against Yifu for screwing over all those Avalon and board buying groups, there is no way people are going to sue cryptsy.  Figure out a way to resolve your problems without involving the court system.  Nobody takes empty threats seriously here, and when you don't follow through with them, you lose your credibility.

I can't help you with the lawsuit though I've had similar issues with Cryptsy.  It's actually inspired me to try to develop an alternative to the crappy mess that's the current exchange system.

See: https://bitcointalksearch.org/topic/m.4077736 if you'd like to help or are interested.

"HA HA" - Nelson

There ain't never been $5000 worth of CENT - Chief Wiggum

Dickery is completely not the intent.
Just pointing out you have a chance at getting your case with some legwork, and the method for doing so.