interesting...

The ones affected most by this operation will be the hosting provider, not any scammer.
most email addresses used for these scams are toss aways. So when the scam is played out, the address is dead forever.

Now we have 20 people scammed in the same way by the same person all flock to this site and "bomb" the target.
If it works, then the hosting provider will get hit with 1000's of messages from different sources, and the scammer will be using their new address to carry on.

The hosting provider will then look at whats causing the problem, and if its bad enough, go after the bomber and the person who hired them
If you honestly believe in your heart and soul that you are better than the engineers at google and yahoo, or that they dont have the resources to come after both of you and find you...


Well... lets just say I would not get involved in this in any way.

Whats bitcointak's position on advertising illegal activities for money anyway

Whats the current exchange rate on those? ;-)

Same as every other thing... thee lawyers will be the only ones that win anything
Everyone else will lose.

But there were no cold wallets... That would imply they could not be hacked and yet they were...

Well... as far as anyone who worked at cryptsy knew... eveything was fine. Sooooo... take that however you want.
In the meanwhile, I would make sure you watch your credit report if you gave them your info. It is undeniable that this was not just Paul ripping off some cash... so anyone who worked there could have stolen your ID and sold it by now.

Sorry, I dont trust anyone that worked for Paul... Never would again. Until someone forces Paul to come back to the US and face the charges... once that happens he will turn on anyone involved to save his ass... 

With the amount of money scammed, and the people that it was scammed from... Im super surprised that he he hasn't received bits of his family  members in the mail. Or the other people that worked at cryptsy for that matter. Me im out very little... so that isnt worth it to me.. but for a million bucks...

I was being sarcastic. After we found out the they were the same person ( and obviously an alt of a regular reader here) and he was still trying to raise funds to hunt down the coins that would be returned within 24 hours of his "contract" with Paul... Nobody expected that he /she would ever be back here posting under either nick.

so I hate to remind people of the past but I was just wondering,...

Where is Cryptcracker / Eternal Insolent with the stolen funds? Shouldnt they have tracked down Vern  and tortured him in to giving up the funds by now? Im still waiting for the next dispatch...
 

I still dont understand how a class action lawsuit works while the company is in receivership. The people involved in the lawsuit should not get preference over all the other investors that lost money, and with the terms listed... 33% to the lawyers and exchange value back at the 11/15 price value of the coins makes this look horrible.

How does this work?

So as expected, they will sell everything off and split whatever money they can make between all the investors that can prove they had funds in the accounts.

A few people wanted to know if they could get x coin back, as they could prove they owned that amount, but the whole thing will be pooled up and people will have to beg for the scraps...

IF they still exist, and IF you can prove they were still on the exchange... you have a shot or getting 5% back or so, but it will take years.

So what will happen of people didnt have screenshots of balances in cryptsy do ya think? I have them cause I filed a complaint with the AG in florida (who ignored it btw ... useless) but what do we think will be the case if there is no evidence from the users?
 

Any chance on a summary? I dont have a pace account.

If the company in question stole from you and a group of others, you are correct. But since they stole from everyone and then basically went under, its a whole different picture. The receiver will sort out the mess without involving the lawsuit. If there are funds to disperse,  he will find them, and give them to the people who lost money. Some magic number will be decided on, and thats where it will go. So when its all done, you might see 4 cents on the dollar. Now, after thats done, the lawyer cant get more after that. There will be no money left for him to go after. If the lawyer is going to get paid for his work, it will have to come out of the amount that his clients would get. not the whole pool, just his clients. He can't collect fees from me I was never a part of it. so... if he gets paid at all, it will be from your 4 cents on the dollar.

I assume that the suit will dissolve anyway as the TOS state you would need to go to arbitration. The receiver is now running the defunct company. His job is to protect the funds for the people that were robbed. He will defend the suit by saying it should have been filed in arbitration, and that the users agreed to such in the tos for the site. That puts down the class action.

Given there is no company left to sue, I see the class action going exactly no place.  The most the class action could have ever recovered was the coins that the users had in the first place, and that would only apply if the coins still existed. Given the company ripped everyone off, and that the majority of the money is gone, the people in the class action will get no more then the users otherwise. The courts would never give the group suing what they are asking for, and leave all the rest of the creditors out in the cold.

The whole thing will be resolved by the receiver, and people will be given a small amount based on what they had in the account. The receiver will get paid out of the funds as well, and when all the users have the 4 cents on the dollar they had returned, the class action suit will be useless as there w ill be nothing for lawyer to go after.

I dont see how you expected the lawyer in this case to jump the line of legit creditors and get any one person or people more percent wise than is available... All the users are fighting for a % of the same pot, having a lawyer will not get you more, it would get you less... as that lawyer wants to be paid a % of the small % you got back.
 

\This is not correct. Your ip address is beyond your control and can be released / renewed by your internet company for any number of reasons. Unless you pay for a static ip from them, they can change it at will. I spent 10 years working at an isp and can verify that not only from that experience but also with my current provider... they change my ip once a month or every other month or so.

PS, I would pay the pay per view thing of vern being tortured to death... if you were looking to recoup costs...Im sure lots of people would ... Just saying... Im sure it would be...umm fake anyway... yea thats it.

at the absolute best, it will be YEARS before anything is decided in this matter. Think 4-8 years. At the end of that time, imagine if you will collecting (at best) 8 cents on the dollar. The money you are trying to get back from the courts is gone. Cryptsy basically has nothing to offer. Thje assets left over from everything cannot be enough to settle to 10 million + dollars in losses they had do to the "hack".  So every user that had coins left in cryptsy will be sharing the remaining leftovers. So if you had $500 in coins in cryptsy, you would be really lucky to see $40 bucks (I bet you wouold see closer to $20.)

Remember... the lawyer will want to be paid for the efforts in collecting the money, and the receiver will want to be paid for services as well... Lawyers ALWAYS get far more then the clients in suits like this, and there just isnt a large amount of money to go around. The money trapped in that *hacked* wallet will not be recovered. At best it will sot there forever, and if not in ten years someone will steal it and its still gone.

Vern totally screwed everyone, and your only hope for justice now is to hope he is arrested and jailed for life (or found by less honorable people and tortured to death on a youtube video) as the cash is not a viable option.

To summarize, If you are waiting for your cash back, forget it... its gone. If you are looking for justice, you will have to wait till they find vern. 

I was really surprised that none of the major players that lost the big bucks didn't go find his family and convince him to come out of hiding that way.

I cannot imagine why it didn't work out...  Why people would not want to trust anything that Paul ever touched. Im sure it was all FUD and there was never any real risk of it happening again...