Topic: It's finally happened CRYPTSY is insolvent (Read 10086 times)

OMG. It should not. Cryptsy case was itself very big disappointment even crypto users using it for altcoin trading rather than for BTC/fiat trading (still cryptsy had options to trade that with them). But, Bitfinex is famous for bitcoin trading with limited altcoins. So, it is directly bind with bitcoin's reputation and price levels. If it follows cryptsy that may trigger bigger disaster again.

But after recent exchange problems/hacks, I believe traders might have developed the habit of not keeping big amounts in exchange unless otherwise they have reasons to do so. If it is true, there will not be any significant effects if Bitfinex follows cryptsy.

It appears Bitfinex is following the path of Cryptsy closely, only that it is not making it so obvious.

They took themselves out cheerleader fanboy 

Excuse me ?

Hey smart ass..

I TOLD YOU SO 

I've been withdrawing my limit ($25/day, $100/mo) and all have gone through as of yesterday. DOGE only, BTC was working until end of november.

My friends still got pending withdrawals like me.
It seems they are helping noone anymore, or did someone get his withdrawal today?

Cryptsy won't be here in 3/4 weeks. The stage for waiting on your coins has been gone now.
There is no bitcoin left in any of their (client) wallets.

This has been a disaster ever since they launched their new website bro's
Either the negative article or the affiliation with Josh Garza has caused this.

I can only hope my and your withdrawals, eventually will go through.

I made a GLD deposit more around 2 weeks ago and still no sign of my coins. I'm getting sick and tired. Cryptsy support is a Crap, and they are kidding around with customers...

I got a withdrawal from over 4 days old. WTF?
No reply nothing. Will they realy steal our money. I am so angry right now.

thank you for the info Its about damn time! Cryptsy has been screwing around for quite awhile now. I managed to get my stuff out a week or so ago, at quite a loss of course. At least most managed to get out their coin unlike the gox fallout

Cryptsy or the new GOX?
Cryptsy is going Craptsy. I still haven't managed to get my coins out. I imagine how many Dev teams are being impaired with this situation.

Welp my time to try and withdraw my small amounts of BTC left in Cryptsy has resulted in a Pending withdraw.  I had never really had an issue, but have been following the insolvency threads which look like are all true.

Please don't..
All your doing is putting yourself at risk.
And causing a higher premium to people forced to buy a shitcoin to bail out of Cryptsy.
AND making far too much traffic for the site to process withdrawals.

People doing that are pathetic vultures making a bad situation worse.
You decide to Arbitrage coins over there to capitalize on others misfortune while
making user wait times longer and longer.

Please think about it from different angles guys.

....what the hell, really sad to see so bad behaviour in some exchanges,  it was one of the biggest..

They are supposed to prove to be solvent, not the contrary!
The prove that they are insolvent is that I can't withdraw!

They are not gone yet, but give it a few weeks. Cryptsy losing so many customers can't be good for business. Then them
getting so much bad media attention makes it even worse. I don't think they will be able to survive this mess.

LOL, how do they suck money out of bitcoin?

Good. Alt coins suck. They are a scam. Pump n Dump. They suck money out of bitcoin and other non-scam new coins like monero etc.

It is not over, but it will be come january. Just look how the market of altcoins is destroyed for coins which sole exchange was cryptsy.
Don't be too late, and withdraw your funds people.

A lot of altcoins have higher prices on cryptsy. I guess its a trap to get more coins. Big Vern is Karpeles little brother.

I tend to think most of what is being said is mostly trolling but I have to say that I have begun to see many reports in the last few weeks of people not being able to withdraw their funds.

Deposit completed.

insolvent?that remains to be proved.

I was going to do some arbitage because I noticed that there is a high bid on Cryptsy compared to most other exchanges on Doge.

Then I noticed that many people are complaining about withdraw issues. Luckily I sent my Doge back to the other exchange minus the fees.

So I guess you can withdraw DOGE and not BTC. Same thing happened on Cryptorush.

These damn exchanges.

I have been depositing and withdrawing coins with cryptsy on a more or less daily base since almost a year.
Since the rumors about cryptsy being insolvent or a scam began, I reduced my balance continuously from over 2btc to ~0.5 and then further to ~0.1.

I haven't been here when Mtgox closed its doors but I've heard enough of it to see the signs written on the wall in fat letters wrt to cryptsy when my daily withdrawals delays grew from minutes to hours and from hours to more than a day.
Because of this I thought it would be time to evacuate all my dust from cryptsy and as feared my 3 withdrawals, together around 0.12btc, are stuck since more than a week. Support doesn't answer my ticket and the 5 updates to the ticket I have made during this last week. Like many I was offered to cancel my withdrawals in order to withdraw in any other currency but this request of me was never honoured or answered by their support.

I have no crystal glass to judge if they are insolvent, incompetent or scammy or multiple of those but from my definition they have definitely gone mammal glands upwards around a week ago. Should I - against all expectations and logic - get my withdrawals processed - I will in all fairness update this post.

For those still trusting in cryptsy and depositing: Please do not hold your breath while waiting for a withdrawal to actually process its not good to leave your brain that long without oxygen.

Well said.

[UPDATE 9. Dec 2015]: After opening a second ticket on 7. Dec again demanding to cancel the pending withdrawals, a new support agent replied within 24 hours that my withdrawals from 28th and 29th November have been cancelled and are returned my balance. I was then able to buy VTC from my BTC and LTC balance and could successfully withdraw it to Bittrex.
So after almost two weeks I was able to get my little remaining balance out with some loss.

Cryptsy... I remember during their early days, I found an bug involving the order book that allowed you to duplicate coins. It was so simple that people were unknowingly and unintentionally doing it. This bug went undetected for a very long time. They were very lucky that I was the one who found it, because I immediately went and told Vern about it, instead of abusing it. He ran a script that removed all these duplicated coins from people's wallet. You may remember this as the period when the forums were blowing up because a lot of people's balances had been corrected, and now were in the negatives. Communication was piss poor and everyone thought they were being stolen from, when in reality their balances were just being adjusted to what they should have been. The whole situation was handled pretty awful. Wouldn't surprise me one bit if another similar bug has been going on undetected for a long time, and their wallets slowly drained.

I now have some funds stuck in there that I'll probably never get out. A small 0.05 BTC withdrawal has been pending for a week.

C'est la vie.

Finally got into my crypts account yesterday. Withdrwal request made.
https://blockchain.info/address/1N9V1aBU2Y5fHDeo14zVFfKkXXQvBeCUDc


24 hours later not made. They have a wdl limit of $12 and chnage on my account! LOL


Goodluck to anybody with funds on crytpsy. They are through!

DAY SEVEN -  STILL LOCKED OUT. IT WOULD BE NICE IF YOU AT LEAST RESPONDED TO TECH SUPPORT EMAILS. LAME! LAME! LAME!

It doesn't matter who owns what house.
More importantly do you believe the large amount of bad stories coming from lots of different people ?
I have a phone book sized all on my own..

Transfer problems have reached a peak now for a month or two straight.

One of my stories involved Doge coin and how i sat on Cryptsy IRC for more than a week 24/7
offering support to Doge users who piled in one after another while mods were GONE.
ONE single guy came on IRC once to tell us the problem was fixed a week earlier and we were all full of shit.
His name was Ross and a few of us challenged whether he was actually Cryptsy staff.
Meanwhile various guys like pr9me and Mullick were connected but idle silent for a week+
While i helped guys non stop asking where their Doge coins went.. even though i despise that coin !
Yeah i am suuuuuch a monster people  

Lets back up a bit..
People may wonder WHY i was there.
Well, i had gone on various occasions to talk Cryptsy, Crypto etc
Then on one of my return visits i was surprised and a bit pissed off to see
All the Cryptsy chat box moderators had hijacked the IRC channel making themselves OP's

So.. over a week of almost non stop new connections from users ALL asking "Where is my Doge"
THEN 1 staff joined once and claimed everyone was full of shit and the problem was fixed already days earlier.
The place erupted and one guy i was helping to calm down lost it and raged on poor "Ross"
Who is that anyway ? first time i seen a Cryptsy Ross and last..

I know what was going on because i was logged in 24/7 for more than week.
So my mIRC client had logged every word from everyone the whole time.
So i would have known if staff showed up..

And before a Cryptsy guy comes here and beaks off.. YES i was advising people to join the Cryptsy support channel !
https://twitter.com/cryptsy/status/406132095761657856
And every time 100% every guy said ok and checked and ALL of them said there was nobody there.

CRYPTSY WAS HIDING.. for a week+

What you think i made that up guys ? You realize there was tons of witnesses right ?
Ryan who is Bittrex staff now chatted with me about Mountain Bikes back then at the same time.
He could confirm what i said if he was inclined.

1 of millions of stories guys.. and no sorry there are not all FUD attacks from Troll's
What they are, is tons of people having problems with their coins using Cryptsy.

Been locked out of my Cryptsy account for 6 days now. I have a smallish pending withdrawal. 

They have all the excuses why I can get in. SEND ME A FREAKING PASSWORD RESET LINK. Very simple!



If these guys cant even do something this simple, how can they be trusted with large sums of money!?

is that really BigVerns house that has been foreclosed?

how do u know that's his house?

Too late...

i dont got to crypsty after day 11 november 2013 but i might go there today to see if theres residuall income

It's not because of the volume.


Cryptsy: 238 BTC
http://coinmarketcap.com/exchanges/cryptsy/

Polo: 990 BTC
http://coinmarketcap.com/exchanges/poloniex/

Bittrex: 199 BTC
http://coinmarketcap.com/exchanges/bittrex/

Btc pending from 2015-11-09

That will make two of us so far! Any others?

Still have yet to have an issue with crypt...

I dont know if this is a false alarm or not, but i withdraw everything from my cryptsy account, ofc that i loss some money by doing it, but i prefer it instead of loss everything, i can always come back in few weeks if everything seems like was a "false alarm".

I must said that i withdraw everything without any problems, well you know, with cryptsy you need to wait a little bit more than normal, but thats all, i withdraw all without problems.

What i notice is that his trollbox is really cra* in last days...

Based on watching BigVern being behind other ventures i am sure he made his fortune elsewhere.
I highly doubt that mansion was paid for by Cryptsy profits.
then again i don't know how much he made way back when noobs showed up.
back in October 2013 it seemed like every 30 seconds a noob was asking (on Cryptsy chat)
"How do i send money from my bank account" ..to buy XYZ Shitcoin.
Point is most of those guys took a loss and had to quit.. they were broke.
Can't trade if you have been suckered and drained dry.

That sounds like a threat.. care to elaborate ?

Mr. Pot, you might want to do some reading too before yelling at Mr. Kettle.

Any chance anyone from Cryptsy - yourself, BigVern, BitJohn... - would care to comment on the withdrawal issues? Because that seems to be the more important part of the "insolvency" question.

KYC makes me think the gov stopped by and made them do that.....

I have BTC, LTC and BTCD stucked withdrawals, has anyone been succesfull withdrawing coins from Crapsea? Which coin was that?

Yes your right 1ex.trade is going to be the place to go from what I heard and read!!! Also you can watch it transforming into the next big exchange!

i quitted crpsty like 2013 nov soo its like 2 years ago there it was nice i guess

I agree that exchange is just dog shit. I want everything of mine off of there for good.

However, one min he is fucking homeless next living in multi million dollar mansion.

Anyway I'm tired of crapsy time to get everything gone from there.

Doesn't look good Mullick was trying to avoid my questions either.

The benefits of running a 'US-Based' company outside the US

A million dollar home since March?  I'm in the wrong business....
And where better do you suggest keeping the assorted alt coin collection....besides the wallet?

Seriously, haven't kept up with the latest and greatest exchange reviews, but I am open to hear about any better exchanges to transfer to.

Yep, just leave your precious in the hands of a dude who went from building websites to operating a cryptocurrency exchanging now living in an over million-dollar home since March of this year while his clients have to jump through hoops to conduct simple withdraws, now accordingly via a tier system illegally put in place.

Jesus H. Christ, I was ready to transfer everything out of Cryptsy and now it's a false alarm?

Phin stop slacking!

You are throwing us all off...

Looks like I probably made a mistake pertaining to the foreclosure. Paul Vernon and his wife, Lorie Nettles, are simply selling the property since they moved into bigger digs: http://www.co.palm-beach.fl.us/papa/Asps/PropertyDetail/PropertyDetail.aspx?parcel=00424629130003540&

BTW you fucking piece of shit, if you continue to use the word "faggot" I will ensure that information in your DOX will be put to good use.

this is 2015 you ignorant, mother fucking piece of trailer trash.

are you going to address any of the questions that i am asking?

coin withdrawals ?? when will this be fixed?

quark wallet - when will you update so it is functional like all other exchanges?

I expected you to say that precisely.

Predictable shit.. as always LOL

edit:
And a reminder people..
i told you on this topic i never gave that info to anyone.. except Cryptsy.
so...

I have no clue how your information made it onto the web. If I had to guess it would be the above

and how does my Cryptsy info keep ending up here with people trolling me and threatening with violence and extortion ?

answer ?

take a minute and look at this history of the retard who started this thread...he's nothing but a worthless altcoin troll with no life.  that is fact.  how could anyone have such a sad fucking life they spend their entire existence on this forum looking for friends?

spoetnik, you are by far the most pathetic piece of fucking trash on this forum.  some day i hope you come to your senses and end the misery.

Oh you have proof they are not ?
Right on.. let's hear it then.
Because all signs point to another Gox incident..

Also on a side note.
Here is the link to a guy who has been following me around threatening me using private info..
https://bitcointalksearch.org/topic/m.12914297

You can love Cryptsy all you want but why is my personal info from their site
popping up here being used by people trying to threaten and extort me ?

That link above is from the user, TheGr33k
And i got some also from Kluge and SpoetnikIsFucked way back.

Why does Cryptsy ban me from chat for a year for something i said here ?
Want to read my PM's from BitJohn admitting this ?

Why does my personal info i used to register at Cryptsy end up in criminals hands here ?
The guy posted on this topic is 3 of the most major incidents of this.. there has been more.

hey BitJohn..
Remember lying to me about a BlueCoin Fork on your chat box ?
That is yet ANOTHER story of their deliberately fucking with things behind the scenes then denying it and lying.

Mullick..
I have an old PM from a guy who outed you for compiling the TIX wallet before it's launch.
Concrete proof you made the wallet while yous at on chat playing dumb.
Another wall of lies and games and bullshit.

PATHOLOGICAL LIARS

How bad does Cryptsy look ?
Based on my stories alone... pretty damn Bad LOL

And boy do i have many.. some of them i have been saving for a rainy day  
And i hear there is a storm coming in

Shitsy has a LOT of explaining to do..

EDIT:
And let's not forget on the previous page another dummy account came here and made some crack about when i last used Cryptsy.. wow some noob account guessed that then registered to come and say that ?
Just one more case of my info showing up on this forum etc via a ton of Troll accounts.

NOTE:
The guy stated when i had used Cryptsy last as a retort to something i said.

oh yeah... all that just reeks of a legit honest business LOL

Any word when btc withdrawals will be working? Small BTC withdrawals are working large ones are not. How is that even possible? obviously not a queue issue since smaller requests were made earlier than the larger withdrawal requests. This is very annoying for trading in and out of places. No other exchange suffers as many problems as cryptsy from day 1. Bittrex polo etc all withdraw very quickly.

Also can you upgrade the quark wallet to the latest build??  every other exchange has done this now except cryptsy for some reason. Thanks if you can.

Just for reference. I do not have access to customer details. I am not on the compliance team so have no access to anything of that nature.

I do have access to view your username, deposits, withdrawals as well as trades since my job requires it. But that's about it.

You can hate Cryptsy all you want but calling it insolvent when it isn't is just bullshit man. You're no better than the scammers you're supposedly trying to save everyone from  

Know when to admit that you've gone too far and back off.. like i said before Cryptsy going down isn't good for anyone.

Bingo...........

That name was only used at Cryptsy as Mullick knows well.
(because he has access to everyone's private info including trade history etc.)
(that name was never said by me to anyone ever once)
I only entered that on their web site PRIVATE profile page when i registered years ago.

Funny how he posts and the next comment says that.

That house foreclosed on or not these guys are frauds and i have 100 stories to prove it.

How does my private info posted ONLY at Cryptsy end up here ?

You got something to say Mullick ? ..explain that
and explain how Kluge here got that name of mine to send me multiple extortion and death threats ?
Let me guess Cryptsy.. you were hacked LOL  

So Cryptsy faggots how many more people are you going to hand my info over to so they can give me death threats ?

EDIT:
By the way guys i am known to share extreme amounts of my personal info in the Altcoin scene.
I have nothing to hide.
A couple times i have posted my own picture.
Want to Dox me ? You can't.. i already did it myself LOL
So i really couldn't care less what kind of antics and games people pull with my personal info.
Funny how before and after this recent Cryptsy crap i have been getting tons of threats..
ALL OF THEM using info i only used at Cryptsy.. hmmm ?

good news. If proven true lets close this thread. I never click any links posted on here but it did sound worrying especially since nobody said it was a 2009 issue.

crytpsy should monitor these boards to explain or defend posts like this. I mean left unchecked rumours like this coupled with the BTC withdrawal problems that most are having can cause panic.

Any word when btc withdrawals will be working? Small BTC withdrawals are working large ones are not.

Also can you upgrade the quark wallet to the latest build??  every other exchange has done this now except cryptsy for some reason. Thanks if you can.

Do you even read Mike?

House for foreclosed on in 2009 before he bought it

Proof is in the link you posted but obviously didnt read

Reading this, I've redraw most of my coins immediatly...

Only to find out I've received them in a quickly matter

I think your case is isolated...

where the hell are the cryptsy crew to defend themselves - seem to be in hiding again.

what's the deal with this house ?

Is it 100% his house?
One of his houses?

where is someone from cryptsy to clear this mess up. They are slack as hell on this board. They don't have a clue how important stopping a rumor  like this is.

Then again if they are fucked then perhaps best to hide.

mmm im reading lot of bad things about cryptsy in last days, is this real news? because i dont want to stop trading just for a "rumor".

did you suggest me or anyone to withdraw his funds from them before something bad happen?, i'm a little bit confused about it and i dont know what do to :S

True. Just playing devil's advocate. They gave me some BS about maintenance when I tried to withdraw mode than 1 btc. A week or two back. I hope that they get their act together.

One can deal with the above account in its entirety with the way less effort than dribbling out small amounts of XBT and DASH.

I'm no fan of cryptsy lately, but could it be that they are just understaffed and overwhelmed? Both on support and actual maintenance?

Until the above is fully resolved I would not even consider trusting Cryptsy with 0.000000000001 XMR. I do hope Otoh gets his XBT and DASH back. This is not the first time that I have seen AML/KNC used as an excuse to hide insolvency and / or fraud. By the way ever wondered why the bulk of DASH/XBT trading has moved from Cryptsy to Poloniex?

Does Cryptsy mess up sometimes? Yes.. but name a single exchange that doesn't.

Can anyone name a single time Cryptsy actually did scam anyone.. not just let them wait a little longer than usual for their coins.. but actually scammed?

Cryptsy is one of the longest running exchanges in the scene, and some coins are traded on Cryptsy and nowhere else. If you think Cryptsy shutting down will be a good thing for crypto I have news for you.. it won't be.

So stop with the lies and rumours and give them some time ffs . Plus, their new UI is pretty usuable.

Just took out 500 xpm...

Attempting to take out sexcoin just waiting on confirm text..  Still I've never had an issue...


humzzz.. this is becoming interesting ... :S

Haha...me a Cryptsy fanboi that is rich.

Whatever, why do I even care.

so when do you say something ?
When the owners house is foreclosed on ?
When you have 100 bad stories ?
When you see 100 other people have bad stories ?
At what point do you go online and warn others ?

You mean to tell me that with all the info available nobody should have spoke up ?
And nobody should come to that conclusion ?

rampant illogical fanboysim in the face of reality.. TSK TSK TSK

and by the way Cryptsy shill few people would say that except a staff member hiding.
there is only one group of select people who know when i traded last on Cryptsy.
you pretty much outed yourself LOL
Like when Kluge did using the name i only registered at Cryptsy with..
Just more proof your private info with them does not stay private.
And that Cryptsy guys are back stabbing lying two faced weazles.

and the Kluge thing was he used the name i registered at Cryptsy with by sending me a pm(s)
giving me multiple threats including extortion and death threats.. *100% unprovoked.
For your info he's a trusted Donator Veteran member here.. obviously with contacts with Cryptsy staff.
How else did he get that name ?
Think about it..

Cryptsy also banned me from chat for a year there (about a year ago)
Because i mentioned their points hack incident.. ON THIS FORUM (not their chat-box)
What you say on the forum here is grounds for having your account fucked up by staff.
Talk about professionalism LOL

And i was right because the entire chat box told me it happened (i was not there when it went down)
Cryptsy proved it by a Twitter statement saying their rolled back all trades on that day.
and rolled back the points market.
But according to Craptsy idiots i was lying as JShock so aggressively mouthed me off about.
(I still have that mouthy pricks logged) (all of this is logged and dated on the forum from last year)
I also talked to the guy who did it LOL

Cryptsy douches are weazles and will rarely ever show their face.
But they will run here asap using a variety of "hidden" accounts to run their fucking mouth.
Go fix your exchange shitheads and STFU
AND.. pay people their coins dipshits.. it's not your money !

Want a hundred fucking million horrible Cryptsy stories ?
I have toooooooooooooooooons !

Their track record is pure dog shit.

Want to see some IRC logs of 1,000 users bitching about the same thing ?
I have them on my hard drive right now.

Drown Cryptsy faggots.. i hope yous suffer. YOU DESERVE IT !

I think you're going too far....

I have never liked Cryptsy and haven't traded there since spring 2014 but stating shit like this on some circumstantial "proof" is a pretty asshole-ish move.

Internet narcissists....tsk tsk tsk.

where are they to defend this claim??

Is it true? was it his house?
Is it his only house or one of many?

either way they should be here commenting on this,

Jesus.. people are trying HARD to take out cryptsy..

I can never believe how cheap property is in (most of) the USA.  The average property price (including apartments) in London is now $750,000.

all the more reason to get on 1ex.trade

seariously man??? 
i just withdrew all my funds from them today!! thank to god

And also my withdrawal got processed immediately. lucky me.. 

I made trades on Cryptsy only a few weeks ago luckily I was able to withdraw my coins out of the exchange.

they stolen my BTC, insane transiction fee, i hope they all closed soon an go to jail.

but the exchange is still online.

does someone want to crash cryptsy with this rumor? that everybody withdraw everything? if this will happened then god night cryptsy.
if yes: anybody knows why?

and people are still trading.

lets see what will happen.

Probably you forget to say about BitShares decentralized exchange:  
https://openledger.info

My face when I heard that Craptsy was insolvent.



But srsly, they've been running a fractional reserve scheme for years.  I can't believe people still use these centralized exchanges.

to bad, i liked their interface.... But all the negative signs were there i guess.

https://bitcointalksearch.org/topic/m.12925578

look at one of the last pages.. BigVern's (Paul) house was foreclosed on.
i'd say they are done.

edit:
- Changed link from page 1 to post by Gleb Gamow.

where he posted..


Homeless people don't run exchanges LOL