Any updates from the poor souls that may still have their coins stuck with Cryptsy? Has anyone been able to withdraw any amount of BTC, anyone at all? It's Dec 4th already, and the last successful withdrawal that I know of happened on Nov 25th. By now, any notion that this might be a temporary fluke should have evaporated even in the minds of the otherwise incapable... Get your coins the fuck out of there before it's too late.

To the guy who says he will take his chances and keep his coins there and even send some more... you are the reason banksters get away with financial murder in this world, fucking mellow and passive fools who allow these greedy assholes to walk all over them, an in return they simply shrug their shoulders and dismiss it with an "oh well". If you trust these scumbags with your money more than you trust your own "flash drive operating" abilities or whatever the fuck you called it, you deserve to be parted with your money. I just wish you wouldn't be enriching low lives in the process.

/fucktheCraptsyscumbagsrant

So I have a question for ya'll keyboard detectives: do we know all of the cold and hot wallet addresses for BTC, DASH, LTC and ETH that Cryptsy uses/used? Has anyone entertained the idea of running a sort of impromptu audit? Would that be too colossal of an undertaking? Just looking at the blockchain makes my primitive head spin, but I have seen/heard of more intellectually acute people conducting such tasks... I noticed some wallets being discussed a few posts ago, but those weren't the full picture.

It would be nice if you could just post what you've figured out for all to see, like I did a few posts ago, and not be greedy. Post your address too and hopefully people will decide to tip you out of their own accord...

Not exactly, all the hoopla surrounding the digger (aka "curious") is over, since we bought him out. So that's over, and almost 300K clams have been introduced in the wild.

However, we are still going to vote through staking, to see just what the majority wants, in case of future diggers appearing (the likelihood of which is not insignificant). We need to figure this out before the next one shows up and throws the community into a nosedive again.

Could you elaborate on the highlighted text, please? Spasibo!

Thanks for posting this, Spoetnik. This was actually his last post here on these forums, from over a month ago. You'd think he would be in here trying to alleviate concerns if this was a repairable, regular problem.

At this time I am not sure what to think about the Cryptsy staff. Presumably they don't know exactly what's going on, but at the same time, you can't be on the inside and not see that there is something seriously wrong. I, for one, know that if I was part of an organization that was acting benevolently, I wouldn't just continue to "do as I am told" and go about my job as if nothing is happening, knowing full well that a lot of average Joes are about to get proper fucked. So on one hand, support staff are probably just doing as they are told, but given the circumstances, should they?

The only thing I've seen from Vernon himself is a tweet on Nov 25th 2015 about a DDoS attack. If he was posting here, could you please link his post? 

And a DDoS attack would, first of all, affect his servers and not particular wallets but not others (DOGE withdrawals would have been affected too), and second, it would not last for a week straight.

His minions calling everyone trolls and FUD'ing is absurd, we are not talking about isolated incidents here, we are talking no one can do BTC withdrawals for the last 6 days now, with a multitude of problems appearing as far back as 2 months ago.

The problem is very serious indeed, and this is not FUDding. When a large currency exchange effectively halts all BTC withdrawals without any explanation or good reason, you cannot help but conclude that they are insolvent. There have been enough precedents in the recent past. And to anyone who says "oh you don't know any of this, just wait and see, this is all speculation" what exactly do I need to wait for? An official announcement that the site is closed? I don't need to be spoon-fed facts, I can make my own conclusions on-the-go, and I know enough to say "get your coins the fuck out while you still can". The world took a similar  stance with Hitler, and he ended up invading several countries before the first shot was even fired, thanks to a "wait and see" policy.

So yeah, Spoetnik, I applaud you for calling people out when you see something's not right!

/preemptive anti-troll rant

As a non-native English speaker, this warms my heart. Thanks

I figured, which is precisely why when talking about Cryptsy's shenanigans, I refer to Paul Vernon interchangeably.

Excellent, thank you for the info.

Paul Vernon needs to step forward and speak out. The longer the silence, the louder the questions will get.

I am starting to consider a new theory as to what might be going on at Cryptsy, but this is just a thought experiment of mine. I was thinking, it is apparent to me that there is an issue with the BTC and some other wallets right now, and the only issue that could take so long to resolve would be if the problem is that it's empty, or under capacity. What could cause this? A hack, for one, could do it. Outright theft could cause the same problem as well.

But somehow I doubt that a person who until now was a prominent public figure in the crypto world, where everyone knows his identity, and who had been trying to develop a good, reputable business, would be motivated to outright steal funds. Especially if located in the USA. If a theft was perpetrated, I think it would have occurred under different circumstances, much more rapidly, with the site shutting down rather quickly.

A hack is also unlikely, I think Vernon would have taken a different course of action that would have had a lesser fallout. Frankly, I don't know if an outright hack with today's cold wallets and security measures taken would be even possible. And if it were, it would have affected only hot wallets, and Cryptsy would have been able to mitigate the damage. No need to ruin a good business and a cash cow over one hack. Heck, such an occurrence can even be used as PR to further bolster trust, as Bitstamp did early this year.

No, the way I see it, given Paul Vernon's reaction so far, or lack thereof, it's quite plausible that he fucked up in a way that he didn't anticipate. I noticed that the mass withdrawal issues started right around the time of bitcoin's latest bubble a month or two ago. Is it possible that he didn't segregate the BTC and other wallets, and had a short position somewhere using BTC? When BTC moved against him, he was stuck with a loss, thereby wiping out a large portion of the wallet. I would imagine that in his position of control over so much currency, as a mere mortal human being it would be quite tempting to "borrow" some of these funds to trade with and make more money? That might also explain why some wallets are affected, and not others (i.e. Dogecoin seems to be fine). Could he simply have misappropriated the funds out of gross negligence, not necessarily with malicious intent?

Either way, it would be inexcusable. Again, this is just a theory that I have been thinking about, using the bits and pieces that we have now. One thing is for sure, the lack of communication and at the expense of trust in this company clearly points to it being in very serious trouble, and quite likely it is already insolvent. The silence to me means a passive acknowledgment of a serious underlying issue, and it is done only to buy more time.

I posted my 2 cents on this topic here:

https://bitcointalk.org/index.php?topic=1206845.msg13117828#msg13117828

Here is the gist of it:

I am going to call it out as it is, Cryptsy is insolvent in terms of BTC, either due to a hack or outright theft by insiders. Either way, we are not being told the truth. There are many things that point to all this. Where do I even begin?

1. The most obvious problem: many, many users are reporting slow withdrawals of BTC. I have been observing the Cryptsy chat for the last two days, as well as other places online and especially since around Nov 25th, no one is getting their BTC withdrawals. It gets stuck in "pending". I myself tried withdrawing 5.5 BTC and it was stuck for half a day. I created a support ticket and it was ignored for a few hours. They responded with the generic "we are working on an issue" that everyone else is getting. I made a DOGE withdrawal around the same time, and that cleared within 5 minutes. So from that and from reading others' responses, I knew some alts withdrawals are working.

2. Not an issue with their site - Their support staff are working, as evidenced by their response to my tickets. Their system receives deposits correctly and timely, and DOGE withdrawals work well too. I withdrew various amounts several times and they all happened within 5 minutes. So the issue is specific to BTC/DASH/ETH and some other more popular coins. Which leads me to believe they simply have no coins to cover the withdrawal requests.

3. Complete silence on the issue: you will not find any statement or anything that remotely resembles an acknowledgement that there is a serious problem. People who cause too much fuss in the chat get banned, some for one year.

4. Big Vern himself posted a tweet on Oct 21st, right around the time when the Tier system was incorporated, that "there are some good deals to be had on Alts right now". This seems like a marketing ploy to boost volume slightly and make money off commissions, but the main added effect would be BTC coffers swelling at the expense of Alt coin wallets. It is possible the problem with solvency has began back then, and it does coincide with the first reports of delayed BTC withdrawals.

5. The importance of trust - from other big sites going belly up, exchange operators know that once users' trust is gone, it can never be fully regained again. If there was a technical issue, like a prolonged DDoS attack, they would have admitted it in a timely manner, everyone has problems once in a while, but admitting to it boosts trust in the user base. In this case, there is complete silence despite a very obvious serious problem, and it's only getting worse. I think the only logical explanation is that Paul Vern knows that the only way to save the ship is "a la pyramid style", if mass panic is avoided and if he can hold off on people withdrawing their BTC for just long enough, he can recuperate enough funds to keep going (in case Cryptsy was hacked). OR, if the funds were stolen by an insider, then he is just buying more time. It is obvious they are trying to avoid a run on the BTC wallet, and it's probably already completely insolvent given that no one has been able to withdraw even the smallest amounts in the last 4-5 days. (I even tried withdrawing small incremental amounts, as small as 0.049 BTC, and still it didn't go through).

Basically, I am confident this is the end of Cryptsy, there is no good reason for what's been happening and the silence on Cryptsy's part. Save your funds and GTFO while you still can. While we are on the subject, here is how I was able to get my ~9btc out of there since yesterday:  buy Doge. Yes, you will take a hit. You only have a couple of viable options where to sell them later, right now you can buy them for 38-39sats on Cryptsy and sell them back on Poloniex for 32-33 sats, the situation is the same on BTC38, you can sell them for CNY and then buy BTC with CNY with the same result. You are losing about 15% in the process. From my research (and I stayed up most of the night yesterday looking at all sorts of options) Doge is the only currency that you can still buy on Cryptsy in large amounts and withdraw without issues.

If you have a stuck pending withdrawal of BTC, you can create a ticket asking to cancel your withdrawal. It's amazing how quickly they responded to 2 such tickets that I created. It's like they don't want you to even try taking out BTC, could it be because they don't have any?

Again, this is one option that you have, take it or leave it, I lost ~1btc in this process but I saved 8, to me it was worth the risk, because I am pretty sure this ship is not salvageable. Their shady practices combined with the fact that this is a wide-spread issue now, leads me to believe Cryptsy is, as of yet, unofficially insolvent.


One more thing, for anyone who wants to know where to look for their coins, here is the Founder and CEO's name and home address:

Paul E. Vernon
8656 Tourmaline Blvd.
Boynton Beach, FL 33472

This is publicly available information that can be discovered by anyone who does a little digging.
I wish everyone best of luck, and I hope this was helpful to at least some of you.

Edit: someone pointed out that this address might be out of date now, please update me if I am wrong. This was the official address of registration of his corp, and it was used early in 2015 again.

Sorry, I can't comb through 78 pages of tread right now, could you point me to the particular post(s) with his updated info? Thanks.

I think people have the right to know who has their coins, or had, and where they can be found, especially when they are obviously hiding.

By the way, I challenge an official representative from Cryptsy, preferably Paul Vernon to come forward and prove me wrong on all this.

Come forward and make a fucking statement already, and let everyone know what is going on and why.

I am going to call it out as it is, Cryptsy is insolvent in terms of BTC, either due to a hack or outright theft by insiders. Either way, we are not being told the truth. There are many things that point to all this. Where do I even begin?

1. The most obvious problem: many, many users are reporting slow withdrawals of BTC. I have been observing the Cryptsy chat for the last two days, as well as other places online and especially since around Nov 25th, no one is getting their BTC withdrawals. It gets stuck in "pending". I myself tried withdrawing 5.5 BTC and it was stuck for half a day. I created a support ticket and it was ignored for a few hours. They responded with the generic "we are working on an issue" that everyone else is getting. I made a DOGE withdrawal around the same time, and that cleared within 5 minutes. So from that and from reading others' responses, I knew some alts withdrawals are working.

2. Not an issue with their site - Their support staff are working, as evidenced by their response to my tickets. Their system receives deposits correctly and timely, and DOGE withdrawals work well too. I withdrew various amounts several times and they all happened within 5 minutes. So the issue is specific to BTC/DASH/ETH and some other more popular coins. Which leads me to believe they simply have no coins to cover the withdrawal requests.

3. Complete silence on the issue: you will not find any statement or anything that remotely resembles an acknowledgement that there is a serious problem. People who cause too much fuss in the chat get banned, some for one year.

4. Big Vern himself posted a tweet on Oct 21st, right around the time when the Tier system was incorporated, that "there are some good deals to be had on Alts right now". This seems like a marketing ploy to boost volume slightly and make money off commissions, but the main added effect would be BTC coffers swelling at the expense of Alt coin wallets. It is possible the problem with solvency has began back then, and it does coincide with the first reports of delayed BTC withdrawals.

5. The importance of trust - from other big sites going belly up, exchange operators know that once users' trust is gone, it can never be fully regained again. If there was a technical issue, like a prolonged DDoS attack, they would have admitted it in a timely manner, everyone has problems once in a while, but admitting to it boosts trust in the user base. In this case, there is complete silence despite a very obvious serious problem, and it's only getting worse. I think the only logical explanation is that Paul Vern knows that the only way to save the ship is "a la pyramid style", if mass panic is avoided and if he can hold off on people withdrawing their BTC for just long enough, he can recuperate enough funds to keep going (in case Cryptsy was hacked). OR, if the funds were stolen by an insider, then he is just buying more time. It is obvious they are trying to avoid a run on the BTC wallet, and it's probably already completely insolvent given that no one has been able to withdraw even the smallest amounts in the last 4-5 days. (I even tried withdrawing small incremental amounts, as small as 0.049 BTC, and still it didn't go through).

Basically, I am confident this is the end of Cryptsy, there is no good reason for what's been happening and the silence on Cryptsy's part. Save your funds and GTFO while you still can. While we are on the subject, here is how I was able to get my ~9btc out of there since yesterday:  buy Doge. Yes, you will take a hit. You only have a couple of viable options where to sell them later, right now you can buy them for 38-39sats on Cryptsy and sell them back on Poloniex for 32-33 sats, the situation is the same on BTC38, you can sell them for CNY and then buy BTC with CNY with the same result. You are losing about 15% in the process. From my research (and I stayed up most of the night yesterday looking at all sorts of options) Doge is the only currency that you can still buy on Cryptsy in large amounts and withdraw without issues.

If you have a stuck pending withdrawal of BTC, you can create a ticket asking to cancel your withdrawal. It's amazing how quickly they responded to 2 such tickets that I created. It's like they don't want you to even try taking out BTC, could it be because they don't have any?

Again, this is one option that you have, take it or leave it, I lost ~1btc in this process but I saved 8, to me it was worth the risk, because I am pretty sure this ship is not salvageable. Their shady practices combined with the fact that this is a wide-spread issue now, leads me to believe Cryptsy is, as of yet, unofficially insolvent.


One more thing, for anyone who wants to know where to look for their coins, here is the Founder and CEO's name and home address:

Paul E. Vernon
8656 Tourmaline Blvd.
Boynton Beach, FL 33472

This is publicly available information that can be discovered by anyone who does a little digging.
I wish everyone best of luck, and I hope this was helpful to at least some of you.

Any updates on your withdrawals? I had no idea they were having issues. Withdrew 5btc no problem back in September. Anyone still not get their BTC? I have a 5btc withdrawal request pending right now since 2 hours ago...

I assume a lot of clams were distributed to "lost" addresses, ie addresses that were "migratory" in one way or another, ones that had miniscule amounts of currency in them, on exchanges or in private wallets, that have been lost forever because people didn't keep them or don't even remember about them. I know I have at least 5 such addresses that I didn't bother keeping credentials for.
I am curious however just what percentage of the total clam supply has fallen victim to such lost addresses.

I'm really glad to see reason prevailing over emotions, you guys are all an important part of the solution to our problem due to your past contributions and I don't think any solution would be good unless all important parties are on board and we eventually reach consensus. If Iran and the US can sit down and hammer out a deal, I am sure we can find a solution to our predicament as well.

Why not implement said Doogcoin alongside Clam on JD, instead of in its place? Kind of like Alex's site where you can gamble a few different crypto's with one common trollbox, etc?

I am not sure on the exact details, Doog will have to chime in on this one.

That may be so, but you yourself argued that you resist change brought about by opportunism, and that your issue is that we are trampling on the foundations of the coin. I think it's perfectly reasonable to assume that the founders of the coin had fair distribution as the core value of the coin, and that one exchange taking control of a vast amount of users' coins would not be considered fair distribution. Luckily, the founders are around us so perhaps they can chime in on this?



Yeah there may have been some bad apples. But what about the 2nd, 4th and 5th amendments for example? Aren't you glad those were passed? From talking to you before, I get the feeling you are quite happy about them.