CRYPTSY | CLOSED

21st December 2015

CRYPTSY | CLOSED

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        CRYPTSY ANNOUNCEMENT

        Cryptsy ceases its activities in the wake of the theft of most of Bitcoins from the COLD storage

        CRYPTSY INTRODUCTION

        CRYPTSY is an Internet startup managed by Project Investors, Inc. focusing on the exchange of Crypto-Currency commonly known as “BitCoin” and it’s derivatives. They currently service more than 200 different types of crypto-currency.

        The Cryptsy.com exchange opened on May 20th, 2013 and since then has seen rapid growth in both customer base and trade volume. They currently have over 270,000 registered users from all over the world with a volume of over 300k trades per day. They Provide a safe, simple, and efficient environment for users to trade crypto-currencies with each other.

        Cryptsy will expand its service offerings for merchants who want to easily accept BitCoin and other crypto-currency payments as an alternative payment method for their ecommerce sales. Cryptsy will offer an escrow service for safe and direct user to user transactions.

        CRYPTSY FACTS

        LATEST NEWS | FROM COINDESK

        Cryptsy Threatens Bankruptcy, Claims Millions Lost in Bitcoin Heist

        Embattled digital currency exchange Cryptsy is now claiming that it is insolvent.

        The exchange alleges in a newly released blog post that it was the target of a hack in July 2014, an incident that it said cost it approximately 13,000 BTC ($7.5m at then prices) and approximately 300,000 LTC (then $2.08m).

        Unless the funds are recovered or a buyer is able to cover the losses, the post continued, the site will be shut down and bankruptcy declared.

        The acknowledgement of insolvency and the hack claims come after months of customer withdrawal delays, comparisons to the now-defunct Japanese bitcoin exchange Mt Gox, and the filing of a class action lawsuit against the exchange.

        Cryptsy said that it has outstanding liabilities of approximately 10,000 BTC, or roughly $4.15m at press time. Withdrawals and trading are offline at press time, and the site’s chatroom has been deactivated.

        Cryptsy said that did not disclose these losses at the time and continued operating, meeting its funding obligations with trade income.

        Further claims pointed to the developer of an altcoin called Lucky7Coin as the person behind the attacks.

        Mixed messages

        Prior to today’s post, Cryptsy had claimed technical problems as the source for the withdrawal problems, but the new revelations point to an extended period of insolvency. Cryptsy now says that its ability to make payouts from exchange profits deteriorated amid declining trading volumes.

        Cryptsy suspended trading last week and again this week, the latter incident allegedly tied to a phishing attack that targeted customer email addresses and phone numbers. Yesterday, two Florida law firms filed suit in federal court on behalf of affected customers.

        The exchange said that it did not report the incident because it “didn’t want to cause panic”, and claimed that recent efforts to contact the authorities, including the Federal Bureau of Investigation (FBI), were not immediately successful.

        The post also claimed that the company had a prior relationship with former Secret Service Agent Shaun Bridges tied to “an unrelated matter”. Bridges was sentenced to five years and eleven months in federal prison in December following his conviction on obstruction of justice and money laundering charges.

        Cryptsy also blamed an article published on 4th October that reported that an investigation by US authorities was underway. In response, CEO Paul Vernon called the article “libelous” and denied any existence of an investigation at the time.

        “It wasn’t until an article from Coin Fire came out that contained many false accusations that things began to crumble. The article basically caused a bank-run, and since we only had so much in reserves for those currencies problems began,” the new post states.

        Former Coin Fire editor Mike Johnson has said that he has been the target of death threats since the blog post was published.


        PAYMENTS | NO DEPOSIT
        Manual

        PRICE
        From 0.6000 BTC

        ROI (Return on Investment)
        No deposit

        MINING COINS
        Bitcoin, Dash, Feathercoin, Reddcoin, Blackcoin, Litecoin, Dogecoin, Auroracoin, Lottocoin, Megacoin, Novacoin, Potcoin, Viacoin, DNote, Unobtanium, BitcoinDark, Worldcoin, Zetacoin, Startcoin, Peercoin, Namecoin, CureCoin

        ALGORITME

        LANGUAGE
        English


        ADDRESS
        Cryptsy
        Project Investors Inc
        PO Box 7646
        Delray Beach
        FL 33445
        USA

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