Topic: CRYPTSY stopping withdraw locking accounts without notifying users! Class Action - page 75. (Read 1007033 times)

I dont think this is related to the cryptsy settlement. This is a separate action against coinbase and will be handled differently. If I understand correctly, the suit is abut how coinbase assisted Vern in stealing customer funds through negligence. If that is indeed the case, you would not need to have had a coinbase account to have been affected, just a cryptsy user.

Please correct me if I am mistaken.

How would that fit in with people that have not joined the class action against Coinbase or Cryptsy and did not have a Coinbase wallet?

On the basis that Coinbase was used by Cryptsy to funnel or defraud their customers and a judgement is made against Coinbase then what would be a good way forward for people like me who live outside the USA who hope to get compensated for Cryptsy collapsing?

With that ruling, there is actually a chance that many will get paid, the court discovery contains the location of the sealed DB server that was brought into the case and that discovery states that there are around 47,000 users.  The total value that was settled upon, based upon the locked amount is around 18% of the value of the sealed holdings that the company still has access to, so it would be silly for them not to pay that out.

Improving Customer Support
Over the past few months, we’ve seen an unprecedented increase in the number of customers signing up to use Coinbase (4x since January 2017). As a result, our systems have been pushed to the limit. This has caused many customers to have a negative experience.I’m writing today to apologize for the experience you’re having and tell you what we’re doing to improve the situation.

First, it’s worth acknowledging the gravity of the situation. Our goal with Coinbase is to build the product that is the most trusted and easiest to use in the space. It erodes trust when customers can’t get a timely response to customer support inquiries, or when there are delays in pay ins, pay outs, limit increase requests, or getting access to your account.

We’re storing customer funds, and I can understand how incredibly frustrating (and scary) it is when an issue arises and you can’t get a prompt response.

We haven’t done enough to keep up with the growth, and we’re taking steps now to correct it. I want to share with you specifically what we’re doing to improve the situation.

Near Term:

We are doubling overall support capacity by spinning up an outsourced support facility by the end of June. This will allow us to rapidly add level 1 support agents during future surges.
We’re hiring 10 new contractors for our in house team over the next 3 months.
We’re adding new hires on the Trust team (part of the engineering org that helps deal with security questions).
Hired a consultant (former VP Customer Success at larger company) to consult on scaling, and how to introduce phone support.
Several account security improvements are rolling out, including improvements to our two factor authentication, and a new system to flag risky withdrawals.
Q3 Plan

Goal will be < 6 hours first response time for everyone; < 2 hours in cases of large balances
Goal of having first version of phone support introduced for high balance accounts, and/or security related questions by end of September
Q4 Plan

Roll out phone support for a wider % of customer base (potentially a paid option, still TBD)
Introduce additional account security options such as Yubikey support
We understand that trust has to be earned, not given, and that we haven’t done enough lately to earn that trust.

The attorneys stated at the time of the original court request that they were concerned that the value of the coins would drop significantly over time and they demanded that the values be locked for the settlement.  That is why this is happening, that was the specific request of the attorney that was representing the clients.

Improving Customer Support
Over the past few months, we’ve seen an unprecedented increase in the number of customers signing up to use Coinbase (4x since January 2017). As a result, our systems have been pushed to the limit. This has caused many customers to have a negative experience.I’m writing today to apologize for the experience you’re having and tell you what we’re doing to improve the situation.

First, it’s worth acknowledging the gravity of the situation. Our goal with Coinbase is to build the product that is the most trusted and easiest to use in the space. It erodes trust when customers can’t get a timely response to customer support inquiries, or when there are delays in pay ins, pay outs, limit increase requests, or getting access to your account.

We’re storing customer funds, and I can understand how incredibly frustrating (and scary) it is when an issue arises and you can’t get a prompt response.

We haven’t done enough to keep up with the growth, and we’re taking steps now to correct it. I want to share with you specifically what we’re doing to improve the situation.

Near Term:

We are doubling overall support capacity by spinning up an outsourced support facility by the end of June. This will allow us to rapidly add level 1 support agents during future surges.
We’re hiring 10 new contractors for our in house team over the next 3 months.
We’re adding new hires on the Trust team (part of the engineering org that helps deal with security questions).
Hired a consultant (former VP Customer Success at larger company) to consult on scaling, and how to introduce phone support.
Several account security improvements are rolling out, including improvements to our two factor authentication, and a new system to flag risky withdrawals.
Q3 Plan

Goal will be < 6 hours first response time for everyone; < 2 hours in cases of large balances
Goal of having first version of phone support introduced for high balance accounts, and/or security related questions by end of September
Q4 Plan

Roll out phone support for a wider % of customer base (potentially a paid option, still TBD)
Introduce additional account security options such as Yubikey support
We understand that trust has to be earned, not given, and that we haven’t done enough lately to earn that trust.