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Title: [2016-02-06] Tales from the Crypt…sy Post by: trinaldao on February 07, 2016, 02:18:56 AM A new year, the same old storylines. It now appears that bitcoin and altcoin exchange Cryptsy has ceased operations after admitting to a major hack. The assailants managed to take over 13,000 bitcoins and 300,000 litecoins. To make matters worse, Cryptsy admitted to running a fractional reserve after they discovered the hack, essentially operating a business that could be rendered insolvent on any given day. To add a final insult to the injury Cryptsy dealt to users, the blog post by “Big Vern” chose to blame a report published by CoinFire as the root of their current troubles, attempting to divert blame from Cryptsy’s unethical and incompetent business practices.
https://coinreport.net/tales-from-the-cryptsy/ Title: Re: [2016-02-06] Tales from the Crypt…sy Post by: indiemax on February 07, 2016, 04:22:00 PM Admitted running a fractional reserve
methinks Big Vern will be staying in China ;D Title: Re: [2016-02-06] Tales from the Crypt…sy Post by: BellaBitBit on February 07, 2016, 06:44:26 PM 1st problem - hacked
2nd problem - continuing operation ??? Title: Re: [2016-02-06] Tales from the Crypt…sy Post by: 1Referee on February 07, 2016, 10:38:23 PM No one is stupid enough to believe all the nonsense that comes from mr Vern. It's very simple, he/they stole the coins and kept it secret for obvious reasons, hoping to let users deposit more coins and do the trick for a second time.
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