What I would also like to know, is how much money was recovered in total, and what is the amount the lawyers will get for this (at 33%)
In all of the paperwork I have not seen the total amount available.
This settlement leaves open options for going after cryptsy and vern... That makes me happy.
Is this figure of 33% going to the lawyers actually stated in the paperwork? If that is the case, is there any connection between the organisers of the class suit asking these lawyers to fight the case and their own link with the lawyers? If there is a conflict of interest then surely that in itself is plain wrong
The Cryptsy Lawsuit is Over. The Judge issued the Final Order on June 13....Next Coinbase.
It's all in here. This is the Motion Approved by the Judge on June 13, 2017 :
http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/Motion-for-Final-Approval-of-Settlements.pdfYes, the Lawyers get 33%. I read The House will net around $800,000 after the Realtor fees and costs.
The total is around 1.5 Million, to be split amongst the Lawyers and the Approved Claimants. A little over 1,600 met the Deadline and filed Claims.
They have not stated yet how many were approved.
One note of concern, is the Receiver stated that Just One Claimant's Claim is for more the the Entire Settlements Fund so let's hope that one gets Rejected
http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/Response-to-Objections-to-Settlements.pdfDid I read that right? Since no proof exist, all ~1680 claimants will get an equal share of the available loot minus lawyers fees, equating to ~U$470? Or is the available money doled out according to percentages?
"diminished pro rata recovery"
http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/Response-to-Objections-to-Settlements.pdfThanks, Tommy. I should've Google "Pro Rata" prior to asking, whereupon I would've easily been brought up to speed. Claimants will be rewarded (what a funny fuckin word in this context) proportionally according to their claim that according to the lawyers' docs CANNOT be verified because the server was successfully 100% erased. Ergo, any Tom, Dick or Harry willing to put in some effort could easily game the system, including the lawyers and receiver.
I remember not too far back when Decred was conducting their airdrop campaign. I came along and demonstrated how their airdrop model could easily be gamed. I was met with discontent and assured that NO WAY IN FUCKIN HELL would gamers bypass their defense mechanisms. I said "Really!" Then I proceeded to create 10 user accounts so to game their system which they said couldn't be gamed. Success! All ten accounts where funded during the airdrop, whereupon I quickly sold off the amassed tokens because ... wait for it ... I knew in my heart that no way in hell they would be worth anything because I'm such a fuckin genius.
Today:
https://coinmarketcap.com/currencies/decred/ Believe me Bruno, I know the Feeling
I had 110,000 XRP on Cryptsy. Today worth 13.1285 BTC.
The way the Settlement was Done, My Claim goes back to November 1, 2015 (The Official Date set by the Lawyers), when BTC was around $330.00 and my account Value was around 1 BTC
I have no Idea how People proved their claims as of that Date (Nov. 1, 2015), as most, including myself, only started taking screenshots, when it was brought up in this Forum at a much later date. I was Trading right up until the End around January 17, 2016
My Problem, as others have mentioned, is how do/would the Lawyers know that a Claimant with a high BTC Balance didn't get out with their money AFTER November 1, 2015