1,683 people submitted claims as of the May 17, 2017 claim deadline.
"The price of Bitcoin on November 1, 2015 was approximately $330.00 per Bitcoin. On May 24, 2017, the price of Bitcoin was approximately $2,943.00 per Bitcoin. While it is understandable that Cryptsy users would like to enjoy the benefit of that staggering increase, the Cryptsy Defendants, and not this Settlement, has precluded them from doing so. In the context of this Settlement, the valuation date is of no moment because, as explained earlier, the value of the claims exceeds the available Settlement Funds, whether using a valuation date in November 2015 or May 2017 and, therefore, either valuation date will yield the same result. In other words, the pro rata distribution will be the same based on the type and amount of cryptocurrency held regardless of the valuation date employed.
Moreover, the Settlement provides a fair and reasonable valuation method and corresponding date. The valuation method recognizes what a recognized loss amount should have been when Cryptsy stopped servicing clients. On November 1, 2015, Cryptsy effectively stopped allowing users to buy, sell, or trade cryptocurrencies. Therefore, Class Members are being treated equally for where their portfolios stood on that day. This valuation is not intended to be an estimate of, nor indicative of, the amount that Class Members might have been able to recover after a trial. The proposed valuation plan was designed to fairly and rationally allocate the net settlement proceeds across the universe of cryptocurrencies traded at Cryptsy, not act as an insurer as to the price fluctuation of any one particular cryptocurrency."
http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/Response-to-Objections-to-Settlements.pdf
"The price of Bitcoin on November 1, 2015 was approximately $330.00 per Bitcoin. On May 24, 2017, the price of Bitcoin was approximately $2,943.00 per Bitcoin. While it is understandable that Cryptsy users would like to enjoy the benefit of that staggering increase, the Cryptsy Defendants, and not this Settlement, has precluded them from doing so. In the context of this Settlement, the valuation date is of no moment because, as explained earlier, the value of the claims exceeds the available Settlement Funds, whether using a valuation date in November 2015 or May 2017 and, therefore, either valuation date will yield the same result. In other words, the pro rata distribution will be the same based on the type and amount of cryptocurrency held regardless of the valuation date employed.
Moreover, the Settlement provides a fair and reasonable valuation method and corresponding date. The valuation method recognizes what a recognized loss amount should have been when Cryptsy stopped servicing clients. On November 1, 2015, Cryptsy effectively stopped allowing users to buy, sell, or trade cryptocurrencies. Therefore, Class Members are being treated equally for where their portfolios stood on that day. This valuation is not intended to be an estimate of, nor indicative of, the amount that Class Members might have been able to recover after a trial. The proposed valuation plan was designed to fairly and rationally allocate the net settlement proceeds across the universe of cryptocurrencies traded at Cryptsy, not act as an insurer as to the price fluctuation of any one particular cryptocurrency."
http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/Response-to-Objections-to-Settlements.pdf
Correct me if I wrong, but isn't it on record that myriad users of Cryptsy were indeed able to liquidate their positions via the help of staff on chat after Nov 1, 2015?
