I was thinking why that 1 hour down time last Friday ?Could it be to remove traces of web site php code etc that was used to falsify market data ?
Or code that produced fake volume or maybe home brew bots to manipulate the markets ?
Everyone ha seen the old cliche'd "Wallet Problems" at Cryptsy once a coin shoots up in value. (and no problem anywhere elese)
And if you think about it.. If you believe they are screwing with our coins etc.
I bet then that BigVern has added code to simplify the process of stopping wallets.. maybe a UI for his handy work ? LOL
(so he can Arbitrage them exchange to exchange on his own - while you all wait)
This has been a chronic suspicion for years.
So i
espouse maybe that hour down time was to clean up his tracks.
Next up we have scenario #2Not long ago BigVern got a knock on the door by US Fed's muttering about Homeland security and terrorist funding with a warrant.
This has happened a LOT in P2P / File Sharing communities for decades !Later the guys who flashed the badges demanded a FULL DUMP !
They probably said we want it ALL ! ..IP Address logs.. Trade activity.. User Account Registrations etc.
This would explain the need to go offline cut off from public users for an hour.. freezing the data
sans Dumping.
I may
espouse here that "Homeland Security" or the FBI or one of the other many US Federal agencies
could simply mutter some shit about terrorists and they would have keys to the city in a heart beat !
This DOES happen all the time.
Move over 10k i think it is and you can be flagged for investigation easily.
Hell maybe they popped him for supporting Ransoomware eTerrorists who generate 325 million a year in bitcoin ?
And maybe they have been using Cryptsy to launder their money and have a little Altcoin pump and dump action on the side ?
Plausible ? Conspiracy ?Lets rewind a bit.. These guys have implemented US Identity policies etc.
BigVern might be on his way to Guantanamo Bay for aiding Terrorists with Funding *services.. getting his cronies to Stall for time.
Let's see some quotes..Cut short to make it easier to read..
Note: BitJohn does not work there anymore and claims to be under an NDA.So i am taking the below quotes out of context and removed most of my own embedded quotes he replied to LOL
Each link has the full commentary.. point being is BJ has said LOTS about the US law requirements.
He's been dropping shit loads of hints about it all along and most of you are NOT picking up on it
Also the point here may in part be to flame conspiracy here.. BUT !
Let's not forget they do have US law requirements that Cryptsy is -obligated- to follow whether they like it or not.I did quit the company after all so no didn't like many decisions made....
Your comments are interesting BitJohn, to say the least.
Thanks for your insider perspective. We appreciate your feedback. Although, bound by your NDA, it is like reading the back of a bound book. There is so much fruit inside, yet you can not open the book, due to the tightly locked buckle put around it.
Care to share the Cryptsy cold storage Bitcoin wallet link?
I actually had zero access to wallets don't know that info. Very few people did.
At one point there were about 50 some employees to hard to keep secrets like that in a large organization.
When I was at Cryptsy the Fincen stuff was a pain in the ass because its actually illegal for them to comment if someone did something.
I saw lots of posts when I was there where a guy would say his stuff is frozen etc. 99% of the time it was he was flagged and reported to Fincen. But the stupid law says you cant tell them that. It was a painful restriction. So lets say a company did something wrong who was a customer it was likely filed as a SAR. The big downfall with that is Cryptsy couldn't say hey yeah its fucked up so we reported it to Fincen. As that would be considered informing someone they were under investigation. At least my understanding.
I'll add I definitely don't think the current issues are SAR related lol. Unless the system started flagging all users.
As far as what your saying Peon. I don't work there don't really care I'm just telling folks what I know from being an insider within the bounds of the NDA I signed. There are plenty of folks working there who would be all over it if that was the case (at least my opinion) and they would not stay.
So what discussions has Cryptsy had with the SEC? Do you think Cryptsy can survive the run-on-the-bank scenario they are facing? People seem to think it looks like they are surviving on on their deposits hoping they can cope with the day-to-day operating margins to stay afloat. If they had to return all customer funds, do you think they could do it?
I think Paul will do what he can to make things right. What the future holds not sure probably been out of the loop to long. I have my own ideas etc but again I cant go into to much detail since I signed papers. I just think some of the plots and wild elaborate conspiracies are a bit tin foil hatty. Just knowing the people (At least I think I do)
Honestly I'm pretty done with altcoins and crypto altogether probably keep tabs on Bitcoin. But the banking and government regulation is just killing the fun in it all. So Id tell anyone I knew not to get into crypto if that answers your question haha.
I think Polo, Bittrex and Cryptsy will get crushed by regulation and get run out of the scene by the Geminis of the world (banks).
