CRYPTSY stopping withdraw locking accounts without notifying users! Class Action

[LeChatNoir]

I had exactly the same issue. My "free" withdrawal of 500k coins was cut back to 12k, after which I had to make multiple withdrawals to eventually get all coins withdrawn.  Each withdrawal was cut back in size by varying amounts. My support request to refund the fees was initially answered with a promise to do so, but it never materialised. Several follow up messages were ignored by Cryptsy support.

I would say this:

- I managed to withdraw all coins, although it took multiple withdrawals.
- Whether the above is a technical issue or deliberate action on Cryptsy to thwart the "free withdrawals", I cannot tell
- It is unacceptable for support to stop replying to support queries.  If they do not wish to give a fee refund, they should say so and close the ticket, but ignoring follow-ups is unethical. 

I think the last point speaks for Crypty's general attitude. My advice is to keep the minimum amount of coins necessary for trading in Cryptsy and always withdraw any excess. Of course, with the withdrawal fees, this could prove costly over time.

My understanding is that when they have that much dust in a wallet, the amount isn't the problem. It's simply that you hit the maximum number of inputs int he transaction. All cryptsy would need to do to solve these issues is to periodically condense their contents of their wallets to a secondary address within the wallet periodically. If all the coins that have deposited are in a single address, you could transfer up to the  max amount of the hot wallet and it would process automatically. My only guess as to why they don't do this is that they don't want to pay fees for the transactions needed to consolidate their coins int he background, or the architecture of their wallets service doesn't allow it for some reason.

I would love it if that gave me my fees back, but alas I don't think JShock understood what I was asking.

If you pm me the details I can get the fees returned to you. JShock is waiting on a tool to allow him to do it which he doesnt have yet. Ill get a list from him and work through them

You are correct about the utxo build up. Its not uncommon for me to find a wallet with 100,000 utxo's. We periodically clear them out but on some wallets it builds up fast when it becomes popular to mine. As far as the fees. They can get expensive with some of these coins. Our only option on wallets with repeat utxo build up it to raise the withdrawal fee or keep paying for the dust collection out of pocket. We generally try to do 50/50

I'm still waiting for my money, which is a lot more then a couple of satoshi of withdrawal fees.
17 days and counting.

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[SPKLC]

People are really quick when it comes to shouting "GOXED!!" etc. Come on, GOX was a billion dollar operation, the incentives of hacking that exchange was much greater than Cryptsy. I also dont understand why people are so eager to spew hate on this exchange, since 2013 Cryptsy has been, perhaps not perfect, but at least overall professional compared to other altcoin exchanges.

They have good 2factor authentication support for even old phones(where you just had to confirm via sms) and they don't take unnecessary risks like other exchanges do. I mean Poloniex was a really unqualified exchange in the beginning, and thus got hacked. However they managed to repair the situation and after that they got bigger than ever.

It feels like some people are just fear mongering here...

EDIT:
Dont get me wrong, I also have a fair amount of anxiety over my 1.22btc. But lets just try to keep calm and resolute.

[gengisfan]

One by one they're all falling down.
Mt.Gox, Mintpal, Cryptsy...

These BTC exchanges are the worst thing we have in the BTC ecosystem

[SPKLC]

Cryptsy withdrawal stuck in 'pending' status since 19/10/15


I will update this post when/if I receive my funds.

Solved.

[SPKLC]

Why is there no disclosure as to what is happening? I hope you guys realize that this is not some fucking bagatelle, for gods sake people will get fucking mad. You guys can at least post a status report and explain what's going on and how long this problem will remain.

I keep seeing people in the cryptsy chat writing that they have been waiting for weeks without anything. For fucks sake get this sorted. Dont play with other peoples money if you cant even answer simple questions and keep some transparency.

And also, WHY THE FUCK do you allow people to deposit when you're still having these issues?! I mean you can at least have some fucking warning about depositing.......

The more I think about it, the more I realize how intolerable this is. So I hope for both our sakes that this thing get cleared very soon, because I'm sure as hell not going to blame myself for this shit.

I deposited yesterday, seriously, why haven't I heard anything about this? Do you really have to go dig in some fucking subforum to realize that the exchange is all fucked up?

DAMN IT!!

[webonaute]

I think Cryptsy work hard to make twitter and other forum very quiet!!

I was able to get out my bitcoin and other coin but my fiat currency is stuck! I loosed 2 BTC in Canadien $$ on the Canadien website.

I am interested in any grouped law suite!

[defaced]

What coin is everyone trying to withdraw?

[LeChatNoir]

What coin is everyone trying to withdraw?

I have BTC, LTC and BTCD stucked withdrawals, those are not wallet issues it's just that they do not want to give us our money.

[LeChatNoir]

And also, WHY THE FUCK do you allow people to deposit when you're still having these issues?

Because otherwise they go belly up.

[BitcoinCharlie]

I'm curious, for those attempting unsuccessfully to withdraw from Cryptsy.

Do you typically leave your coin on this or any exchange of a long period of time,

or

do you move the coin in, conduct your trades and then withdraw?

[smoothie]

And also, WHY THE FUCK do you allow people to deposit when you're still having these issues?

Because otherwise they go belly up.

Who would say no to free money?

MTGOX did the same thing.

1. Claim to be a legit exchange

2. Halt withdrawals

3. Allow deposits

4. Close up shop and blame Transaction Malleability

lol

[defaced]

What coin is everyone trying to withdraw?

I have BTC, LTC and BTCD stucked withdrawals, those are not wallet issues it's just that they do not want to give us our money.

Interesting, I withdrew btc ltc and deposited eth and exp today and didnt have any issues. :/

However I cant withdraw frk.

[GoldSeal]

What coin is everyone trying to withdraw?

I have BTC, LTC and BTCD stucked withdrawals, those are not wallet issues it's just that they do not want to give us our money.

Interesting, I withdrew btc ltc and deposited eth and exp today and didnt have any issues. :/

However I cant withdraw frk.

I'm trying to withdraw 1m CSC from a second account now and the transaction has been stuck listed as pending for going on 24 hours now. Maybe it's held up because I enabled 2fa yesterday. Not sure why, but opened a support ticket.

[GoldSeal]

And also, WHY THE FUCK do you allow people to deposit when you're still having these issues?

Because otherwise they go belly up.

Who would say no to free money?

MTGOX did the same thing.

1. Claim to be a legit exchange

2. Halt withdrawals

3. Allow deposits

4. Close up shop and blame Transaction Malleability

lol

And also, WHY THE FUCK do you allow people to deposit when you're still having these issues?

Because otherwise they go belly up.

Who would say no to free money?

MTGOX did the same thing.

1. Claim to be a legit exchange

2. Halt withdrawals

3. Allow deposits

4. Close up shop and blame Transaction Malleability

lol

Mark Karpeles is probably being housed at Fuchu prison by now. This is about 45 minutes from my office. I wonder how he's doing today?

[thsminer]

Although I'm not a Cryptsy fan either, I underwrite the post of Goldseal regarding the dust.
I did withdraw a considerable amaount of DGB the past days without problems. I did a tryout a week ago and it was delayed 12 hours but came through. Then I moved millions of DGB and although slightly delayed it came through and yesterday I again moved coins without any delay nor problems.
So if they intentionally hold back withdraws, why did my withdrawals go through? The only explanation I can think of is wallet problems. The reason I did not get burnt is because my withdrawals did come from wallets with less dust as others. If I look at the posts of others I see a similar patern, one transaction comes through the other is stuck.

Sure communication haven't been the strongest skill at Cryptsy, but even on that point I notice improvement...

[SPKLC]

Here is what I've come to understand:

- Cryptsy is having technical some problem due to an overload of inputs/outputs in their wallet, which clogs up their system and delays withdrawals.

- Many people encounter problems to log in, which leads to reseting their password. This triggers a safety mechanism that locks all your withdrawals for 24 hours.

- Some people like the original poster of this thread seem to have another sort of personal issue with Cryptsy that doesn't really have to do with the last months problem. I also don't see the OP
replying here anymore?

- Some people seem to have a personal hatred against Cryptsy for some reason(maybe just their own damn bitterness) which makes them create articles with outrageous accusations, spam forums/reddit, etc. Causing even more confusion and uncertainty.

- Cryptsy claims that there have been no theft, bankruptcy or any such thing. It's some sort of technical problem. They seem to avoid spreading panic, which is understandable since that would put even more pressure and make it harder to resolve the problems.

- People are claiming that their support team doesn't answer for days or weeks, I personally think this is very strange and believe its bullshit because they keep answering me at least within 1-4 hours.

I believe that the smartest thing to do if you have funds on Cryptsy is to either wait this thing out, or to exchange the bitcoins to some other crypto and withdraw. Im still waiting for my withdrawal, but they have assured me that it will be processed the coming 24h.

It might be that the authors of the ridiculous coinfire article have teamed up to make some form of attack against cryptsy, because that article should clearly be taken with a grain of salt.

[LeChatNoir]

18 days, my withdrawals are still stucked and nobody from support has contacted me to provide an explanation.
Bitjohn and mullick who intervened in this thread are also ignoring me.

Call it FUD but IMHO they don't have the coins.

[smoothie]

18 days, my withdrawals are still stucked and nobody from support has contacted me to provide an explanation.
Bitjohn and mullick who intervened in this thread are also ignoring me.

Call it FUD but IMHO they don't have the coins.

how many coins?

[LeChatNoir]

18 days, my withdrawals are still stucked and nobody from support has contacted me to provide an explanation.
Bitjohn and mullick who intervened in this thread are also ignoring me.

Call it FUD but IMHO they don't have the coins.

how many coins?

2200 BTCD
800 LTC
3 BTC

[alienesb]

18 days, my withdrawals are still stucked and nobody from support has contacted me to provide an explanation.
Bitjohn and mullick who intervened in this thread are also ignoring me.

Call it FUD but IMHO they don't have the coins.

how many coins?

2200 BTCD
800 LTC
3 BTC

I can't see the BTC being an issue but maybe the LTC. I tried to sell some LTC there but the volume was so tiny compared with BTC-e it didn't make sense because of the long time to sell a position. Still, these are not huge amounts, at least they shouldn't be.