Source: mullick here..
https://bitcointalksearch.org/topic/m.9338361
Quote Source:
http://blog.cryptsy.com/post/100831839452/response-regarding-lawsuit
https://bitcointalksearch.org/topic/m.9338361
Quote Source:
http://blog.cryptsy.com/post/100831839452/response-regarding-lawsuit
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
Oct 24th, 2014
5 notes
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
Oct 24th, 2014
5 notes
Yes. This is regarding the lawsuit filed by silvers law after a guy tried to get his coins back from cryptsy following the Bitcoin Saving & Trust fiasco. It's like a year old and I believe they settled it.
http://silverlaw.com/media/news-releases/246-2/
What is the point of posting this exactly?
do you know what the settlement was?
didn't that shavers guy actually get a jail sentence as he was running a Ponzi
If they settled out of court, there is no way to find out. They wouldn't have had to disclose it.
This is a copy of the complaint:
https://www.manatt.com/uploadedFiles/Content/4_News_and_Events/Newsletters/BankingLaw@manatt/2014-10-24%20--%20Cryptsy%20Complaint.pdf
Keep in mind that Cryptsy's user agreement states that you agree to settle all disputes via arbitration if you use their service. So, filing a lawsuit in a real court could be a problem for an individual.
https://www.cryptsy.com/pages/terms
23. Applicable Law and Venue
These Terms and your use of the Site will be governed by and construed in accordance with the laws of Florida, without resort to its conflict of law provisions. You agree that any action at law or in equity arising out of or relating to these Terms not subject to arbitration (as set forth below), will be filed only in the state and federal courts located in Palm Beach County, Florida and you hereby irrevocably and unconditionally consent and submit to the exclusive jurisdiction of such courts over any suit, action or proceeding arising out of these Terms.
24. Arbitration
PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE DISPUTES WITH CRYPTSY INTERNATIONAL AND IT LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF.
Any controversy or claim arising out of or relating to these Terms, or the breach of these Terms, shall be settled by binding arbitration in accordance with the rules of net-ARB.com. The costs of arbitration shall be initially borne by the party initiating arbitration and later apportioned by the arbitrator. The arbitrator's decision will be binding and may not be appealed. A judgment of a court having jurisdiction may be entered upon the arbitrator's award.
