CRYPTSY stopping withdraw locking accounts without notifying users! Class Action

[DrxGxr]

It took about a week to withdraw my bitcoin from Cryptsy recently. It never happened to me before. I am quite concerned now. Wish Cryptsy is still OK.

    mine nearly 2 weeks and nothing its moving slow some fake tech support says to me like are you so stupid crypts you don't knos the meaning of slow? scumbags

[DrxGxr]

...back on topic regarding Cryptsy withdrawals. From reading the chat on their site, people are still having issues. It's been 2 weeks now since no one is able to make BTC withdrawals. I did read in the chat yesterday that one guy received his withdrawal after 5 days, but that was only one person. This could very well have been someone associated with Cryptsy, or even if this is a legitimate development, it only goes to show that Cryptsy has essentially become a pyramid scheme now - ongoing deposits fuel previous withdrawal requests, albeit at a very low rate...

I am starting to deliberate whether I should contact the SEC and CFTC about this. I don't want to hurt the greater BTC ecosystem, but at the same time if exchanges continue to run away with people's coins, something must be done about it.

And finally, an article in the news outlets just this morning about this: https://www.cryptocoinsnews.com/cryptsys-bitcoin-withdrawal-troubles-continue/
Unfortunately, the article is a bit half-assed and lacking in detail, and makes it appear that this is an isolated incident. The author should have done a better job researching this issue first. Maybe I should register with another outlet like coindesk and write one myself?

they are trying to manipulate people to cancel their withdrawals and buy alts being held by their very own scumbag friends that are fool up on their website . and i suspect insider trading like what stop this mofos telling their friends info about who owns what and what can be pumped and what not the possibility of abuse is great and this people have showed themselves to be dishonest and untrustworthy so i defiantly would put insider trading past them . scumbag company. i was secretly banned from their chat nobody say a notice saying i was banned not even me just couldn't post anymore apparently you are not allowed to demand your money from them in the chat. only their friends can sit in chat talking crap all day trying to divert attention from the very serious situation created by their friend cryptsy and they all seem to be making money out of it. can someone explain how this is legal/ why the community should feel like breaking some punk faces?

[Northstar]

...back on topic regarding Cryptsy withdrawals. From reading the chat on their site, people are still having issues. It's been 2 weeks now since no one is able to make BTC withdrawals. I did read in the chat yesterday that one guy received his withdrawal after 5 days, but that was only one person. This could very well have been someone associated with Cryptsy, or even if this is a legitimate development, it only goes to show that Cryptsy has essentially become a pyramid scheme now - ongoing deposits fuel previous withdrawal requests, albeit at a very low rate...

I am starting to deliberate whether I should contact the SEC and CFTC about this. I don't want to hurt the greater BTC ecosystem, but at the same time if exchanges continue to run away with people's coins, something must be done about it.

And finally, an article in the news outlets just this morning about this: https://www.cryptocoinsnews.com/cryptsys-bitcoin-withdrawal-troubles-continue/
Unfortunately, the article is a bit half-assed and lacking in detail, and makes it appear that this is an isolated incident. The author should have done a better job researching this issue first. Maybe I should register with another outlet like coindesk and write one myself?

they are trying to manipulate people to cancel their withdrawals and buy alts being held by their very own scumbag friends that are fool up on their website . and i suspect insider trading like what stop this mofos telling their friends info about who owns what and what can be pumped and what not the possibility of abuse is great and this people have showed themselves to be dishonest and untrustworthy so i defiantly would put insider trading past them . scumbag company. i was secretly banned from their chat nobody say a notice saying i was banned not even me just couldn't post anymore apparently you are not allowed to demand your money from them in the chat. only their friends can sit in chat talking crap all day trying to divert attention from the very serious situation created by their friend cryptsy and they all seem to be making money out of it. can someone explain how this is legal/ why the community should feel like breaking some punk faces?

I am beginning to develop a theory that they are trying to coerce people into buying Doge. By limiting all other withdrawals, they are channeling the herd (myself included) into Doge. Cryptsy may very well have deep Doge pockets themselves from the plentiful early mining back in Dec'13, for all we know they could be holding billions of Doge. Now if you force people to buy it, price will go up steadily, providing for a good self-supporting market. The price increases without the need to artificially pump it and risk BTC in the process.

The only question then would be, once they are done, do they release all other withdrawals once more and launch a PR campaign to pretend like nothing major had happened, or do they close up shop for good?

[Crestington]

@HippieTech
I posted this topic specifically for you pretty much..
Crestington Legit or Not ? (PM's inside)
I don't think "crusty" liked me posting ALL of his pm's he ever sent me but i was giving them to you mainly HippieTech.
And knowing that would be a far more appropriate place than the Cryptsy topic here.
Feel free to tear him a new ass on that topic all you want

Fantastic, I'm sure it will be a great asset to the Libel and Cyberstalking case I am compiling.

I don't even have to go out of my jurisdiction if I decide to take you to court.

[Gleb Gamow]

If there are big arbitrage opportunities that is A BIG RED FLAG - why?  because either 1.  you cant import coins, or 2.  you cant withdraw coins.  If the wallets are empty, then cryptsy employees or owners can simply put bids up to entice people to deposit btc (thinking they can take advantage of price difference).  They then make the trade, but cannot withdraw.  From experience, DO NOT TRY IT.  you will get shafted.  Again, not accusing or spreading FUD on cryptsy, this is general advice for any exchange.

Dude, this is exactly what I thought upon reading the post immediately above but opted to not comment virtually echoing your sentiments. My other thought was that Cryptsy and Polo share Kapeles' $40K bed with shill cats.

[Gleb Gamow]

If there are big arbitrage opportunities that is A BIG RED FLAG - why?  because either 1.  you cant import coins, or 2.  you cant withdraw coins.  If the wallets are empty, then cryptsy employees or owners can simply put bids up to entice people to deposit btc (thinking they can take advantage of price difference).  They then make the trade, but cannot withdraw.  From experience, DO NOT TRY IT.  you will get shafted.  Again, not accusing or spreading FUD on cryptsy, this is general advice for any exchange.

I agree with your assessment. That is exactly why the spread in Doge price grows between Cryptsy and other exchanges. People are slowly realizing they can't withdraw BTC DASH and other coins, and are buying Doge to get it out, pushing the price up on Cryptsy and down on other exchanges when they convert back to BTC.

Is there an echo in here? (just read after penning my last post above)

[Spoetnik]

@HippieTech
I posted this topic specifically for you pretty much..
Crestington Legit or Not ? (PM's inside)
I don't think "crusty" liked me posting ALL of his pm's he ever sent me but i was giving them to you mainly HippieTech.
And knowing that would be a far more appropriate place than the Cryptsy topic here.
Feel free to tear him a new ass on that topic all you want

Fantastic, I'm sure it will be a great asset to the Libel and Cyberstalking case I am compiling.

I don't even have to go out of my jurisdiction if I decide to take you to court.

Dude chill out man.. are you going HippieTech on me ?

I posted some PM's and tried to get this guy to shut up about you.
One good way to do that was to create new topic and show everyone the PM's you sent me.
No. 1 that would draw him over to the other topic.
No. 2 low his complaining.
No. 3 That would possibly vindicate you from HippieTech's obsession against you.

I told you also in part i was having doubts whether you are some other guys around Crypto we all.
Based mainly on stuff HippieTech has been posting about you lots.

Go check out the rep forum topic on Crestington.
You can see i was not trying to put your down or insult you.
If you feel like i stabbed you in the back or anything Crestington you really do have my sincere apologies man.
I shit you not i mainly wanted to give everything i know about you to HippieTech etc
so maybe the lynch mob on you would stop with it all.

 Libel and Cyberstalking ?
Where the hell are you getting that from ?

Cresty come on #Cryptsy on Freenode IRC and talk with me / us.
I will try and be there frequently.

Crestington you have always been a super nice guy and fun to talk to & i have nothing bad to say about you.
I am sorry if you feel i have done you wrong.
But do remember that HippieTech started posting a lot negative stuff about you on -THIS- topic before.
So i was trying to get it moved over to a new topic, instead of here

[Spoetnik]

If there are big arbitrage opportunities that is A BIG RED FLAG - why?  because either 1.  you cant import coins, or 2.  you cant withdraw coins.  If the wallets are empty, then cryptsy employees or owners can simply put bids up to entice people to deposit btc (thinking they can take advantage of price difference).  They then make the trade, but cannot withdraw.  From experience, DO NOT TRY IT.  you will get shafted.  Again, not accusing or spreading FUD on cryptsy, this is general advice for any exchange.

Dude, this is exactly what I thought upon reading the post immediately above but opted to not comment virtually echoing your sentiments. My other thought was that Cryptsy and Polo share Kapeles' $40K bed with shill cats.

Yup when i have seen good opportunities like that..



Guys i have bitched lots i quit Crypto (trading/arb'ing) after moving coins from Polo / Cryptsy arb'ing.
I got sick of coins vanishing and getting burned.

And i too way back also bought Doge to get out of an exchange then got stuck with them taking a loss.

So hell ya i agree with these guys 1,0000%

[JCviggen]

atm doge ask is 38 on cryptsy and best bid on poloniex is 30

it's about 26% of gain for insider with fast btc withdrawal

The Cryptsy "premium" was about 10 percent last week.

If it's now over 25 that gives one an idea of how the "situation" is progressing.

[Hippie Tech]

If there are big arbitrage opportunities that is A BIG RED FLAG - why?  because either 1.  you cant import coins, or 2.  you cant withdraw coins.  If the wallets are empty, then cryptsy employees or owners can simply put bids up to entice people to deposit btc (thinking they can take advantage of price difference).  They then make the trade, but cannot withdraw.  From experience, DO NOT TRY IT.  you will get shafted.  Again, not accusing or spreading FUD on cryptsy, this is general advice for any exchange.

I agree with your assessment. That is exactly why the spread in Doge price grows between Cryptsy and other exchanges. People are slowly realizing they can't withdraw BTC DASH and other coins, and are buying Doge to get it out, pushing the price up on Cryptsy and down on other exchanges when they convert back to BTC.

Is there an echo in here? (just read after penning my last post above)

DOGE was one of the "go to" coins while Vircurex was making its final dive..

Yes... good ole DOGE.. dooglus .. doggity (was it mergemined from day 1 ? ) DOGE ..

[volyova]

If there are big arbitrage opportunities that is A BIG RED FLAG - why?  because either 1.  you cant import coins, or 2.  you cant withdraw coins.  If the wallets are empty, then cryptsy employees or owners can simply put bids up to entice people to deposit btc (thinking they can take advantage of price difference).  They then make the trade, but cannot withdraw.  From experience, DO NOT TRY IT.  you will get shafted.  Again, not accusing or spreading FUD on cryptsy, this is general advice for any exchange.

I agree with your assessment. That is exactly why the spread in Doge price grows between Cryptsy and other exchanges. People are slowly realizing they can't withdraw BTC DASH and other coins, and are buying Doge to get it out, pushing the price up on Cryptsy and down on other exchanges when they convert back to BTC.

Is there an echo in here? (just read after penning my last post above)

DOGE was one of the "go to" coins while Vircurex was making its final dive..

Yes... good ole DOGE.. dooglus .. doggity (was it mergemined from day 1 ? ) DOGE ..

No.

[Northstar]

If there are big arbitrage opportunities that is A BIG RED FLAG - why?  because either 1.  you cant import coins, or 2.  you cant withdraw coins.  If the wallets are empty, then cryptsy employees or owners can simply put bids up to entice people to deposit btc (thinking they can take advantage of price difference).  They then make the trade, but cannot withdraw.  From experience, DO NOT TRY IT.  you will get shafted.  Again, not accusing or spreading FUD on cryptsy, this is general advice for any exchange.

I agree with your assessment. That is exactly why the spread in Doge price grows between Cryptsy and other exchanges. People are slowly realizing they can't withdraw BTC DASH and other coins, and are buying Doge to get it out, pushing the price up on Cryptsy and down on other exchanges when they convert back to BTC.

Is there an echo in here? (just read after penning my last post above)

DOGE was one of the "go to" coins while Vircurex was making its final dive..

Yes... good ole DOGE.. dooglus .. doggity (was it mergemined from day 1 ? ) DOGE ..

No.

Yeah, that's a bit too much Hippie. I'm not sure how you make the connection. By the way, I have to say, if there is one person in the crypto community that has earned my respect, that would be Doog. I can cite many reasons why I think he is not the self-interested sock-puppeteer that you make him out to be, but I think for most of us, most such reasons are self-evident.

That is not to say that I completely disagree with your broader premise that most of the crypto world is driven by nothing but fear/greed. But then again, aren't all markets?

[Crestington]

@HippieTech
I posted this topic specifically for you pretty much..
Crestington Legit or Not ? (PM's inside)
I don't think "crusty" liked me posting ALL of his pm's he ever sent me but i was giving them to you mainly HippieTech.
And knowing that would be a far more appropriate place than the Cryptsy topic here.
Feel free to tear him a new ass on that topic all you want

Fantastic, I'm sure it will be a great asset to the Libel and Cyberstalking case I am compiling.

I don't even have to go out of my jurisdiction if I decide to take you to court.

Dude chill out man.. are you going HippieTech on me ?

I posted some PM's and tried to get this guy to shut up about you.
One good way to do that was to create new topic and show everyone the PM's you sent me.
No. 1 that would draw him over to the other topic.
No. 2 low his complaining.
No. 3 That would possibly vindicate you from HippieTech's obsession against you.

I told you also in part i was having doubts whether you are some other guys around Crypto we all.
Based mainly on stuff HippieTech has been posting about you lots.

Go check out the rep forum topic on Crestington.
You can see i was not trying to put your down or insult you.
If you feel like i stabbed you in the back or anything Crestington you really do have my sincere apologies man.
I shit you not i mainly wanted to give everything i know about you to HippieTech etc
so maybe the lynch mob on you would stop with it all.

 Libel and Cyberstalking ?
Where the hell are you getting that from ?

Cresty come on #Cryptsy on Freenode IRC and talk with me / us.
I will try and be there frequently.

Crestington you have always been a super nice guy and fun to talk to & i have nothing bad to say about you.
I am sorry if you feel i have done you wrong.
But do remember that HippieTech started posting a lot negative stuff about you on -THIS- topic before.
So i was trying to get it moved over to a new topic, instead of here

Sorry man, I'm just tired of all the harassing that goes on around here, not just to me, I see some very nasty and racist remarks being directed at you as well. I just don't appreciate being libeled as some kind of monster when I have tried to help people where I can.

I haven't even really been following the service discussion for some weeks now but I think you guys may be correct in Cryptsy being insolvent. I have friends with withdrawals being stuck for more than a week and only today I went through the service discussion and there are far more reports of problems and missing Coins than needs to be.

I'll help you guys with whatever you need but I haven't been involved in illegitimate operations at the expense of others. My Skype logs only go back as far as the end of April 2014 and even from what I remember (or old Skype logs I have logged), I could not see anything considered fraudulent. If Cryptsy is insolvent, it would likely be due to something internal they are not sharing.

[Spoetnik]

Cresty ya your prob right.. Internal.

And here guys..
to back up my mouth before when i claimed they screwed everyone over about Doge for a week+

That is a screen cap of my IRC log from NOV 2014 while i accidentally went while they were having problems.
It was a coincidence i went there then.. for all i know this was going on before or after too.

My log is almost 3mb long of a text file (so it's big)
At quick glance there was 526 ref's to Doge
..many of users complaining where my coins went.
I told the story before already so to sum it up they simply vanished off the web
they were not on their support channel or on their own chat or in the normal Cryptsy channel ..where i am now (link in my sig)

If i sift through this log i could build a nasty picture LOL

But if anyone wants the raw log uploaded somewhere let me know.

[Northstar]

@HippieTech
I posted this topic specifically for you pretty much..
Crestington Legit or Not ? (PM's inside)
I don't think "crusty" liked me posting ALL of his pm's he ever sent me but i was giving them to you mainly HippieTech.
And knowing that would be a far more appropriate place than the Cryptsy topic here.
Feel free to tear him a new ass on that topic all you want

Fantastic, I'm sure it will be a great asset to the Libel and Cyberstalking case I am compiling.

I don't even have to go out of my jurisdiction if I decide to take you to court.

Dude chill out man.. are you going HippieTech on me ?

I posted some PM's and tried to get this guy to shut up about you.
One good way to do that was to create new topic and show everyone the PM's you sent me.
No. 1 that would draw him over to the other topic.
No. 2 low his complaining.
No. 3 That would possibly vindicate you from HippieTech's obsession against you.

I told you also in part i was having doubts whether you are some other guys around Crypto we all.
Based mainly on stuff HippieTech has been posting about you lots.

Go check out the rep forum topic on Crestington.
You can see i was not trying to put your down or insult you.
If you feel like i stabbed you in the back or anything Crestington you really do have my sincere apologies man.
I shit you not i mainly wanted to give everything i know about you to HippieTech etc
so maybe the lynch mob on you would stop with it all.

 Libel and Cyberstalking ?
Where the hell are you getting that from ?

Cresty come on #Cryptsy on Freenode IRC and talk with me / us.
I will try and be there frequently.

Crestington you have always been a super nice guy and fun to talk to & i have nothing bad to say about you.
I am sorry if you feel i have done you wrong.
But do remember that HippieTech started posting a lot negative stuff about you on -THIS- topic before.
So i was trying to get it moved over to a new topic, instead of here

Sorry man, I'm just tired of all the harassing that goes on around here, not just to me, I see some very nasty and racist remarks being directed at you as well. I just don't appreciate being libeled as some kind of monster when I have tried to help people where I can.

I haven't even really been following the service discussion for some weeks now but I think you guys may be correct in Cryptsy being insolvent. I have friends with withdrawals being stuck for more than a week and only today I went through the service discussion and there are far more reports of problems and missing Coins than needs to be.

I'll help you guys with whatever you need but I haven't been involved in illegitimate operations at the expense of others. My Skype logs only go back as far as the end of April 2014 and even from what I remember (or old Skype logs I have logged), I could not see anything considered fraudulent. If Cryptsy is insolvent, it would likely be due to something internal they are not sharing.

Make no mistake about this, I am very measured before I go out swinging punches, I take my time to analyze matters before I level charges, and I applied the same methodology to Cryptsy this time around. I have a very high degree of confidence that what is happening there is anything but a normal technical glitch. This is a VERY big deal and I am astounded that it hasn't caused more noise in the crypto world...

By the way, Doge volume continues to grow, it is now 119BTC in the last 24hrs compared to 70-80 the last two weeks, on average, while volume in all other alts is dropping, LTC being now down to 45BTC worth. Unfortunately the picture that I painted previously is starting to materialize slowly but surely.

[jesselivermore]

Both ETH and DOGE are trading at significant premiums on Cryptsy versus other exchanges.  This is consistent with the theory that people are bidding those 2 up there because they are still able to get those coins off, while BTC and LTC are still on near permanent lock-down.

http://www.worldcoinindex.com/coin/ethereum
http://www.worldcoinindex.com/coin/dogecoin

Update:  It looks like problems have now spread to ETH withdrawals as well:

BitBargain • 9 hours ago

Have been waiting ~15 hours for my Eth withdrawal. Support's email to me claims they *don't know* why withdrawals aren't working. They also claim it started at least a week ago, but yet there's no signs posted on the front page to warn users about potential withdrawal problems before they deposited coins.

https://www.cryptocoinsnews.com/cryptsys-bitcoin-withdrawal-troubles-continue/

[RaginglikeaBoss]

I have used Cryptsy for random altcoins up until a few months ago when Scryptsy was officially a bust.  I was never a zealot for or against them, but honestly I can finally revert my prior position and say that I do not trust Cryptsy post % withdrawal fees.

Not to mention the connections Gleb has exposed... Bah, we just need to remember trading Crypto is like trading on the New York Stock Exchange around 1910.

It's vicious, and if you gained like I have consider yourself lucky and walk away from this particular table.

[Spoetnik]

the main reason i got a rep as a Troll was bad mouthing Cryptsy..

I told you so.

I also bad mouthed shit coins and said they would kill crypto and was argued with and called a Troll.

I told you so.

Sorry but you guys don't get to call me a Troll anymore.. i was right !

I said the mass coin cloning triggered by Doge coin was going to kill it all.
I also said the down fall of Cryptsy was in part because of their silence when problems arise.
BitJohn on more than one occasion agreed with me on this topic agreeing with my sentiments.
I was right and I told you so and no you guys can't call me a troll anymore.

I love how some of you here hate me so much but i helped spear head this topic with Gleb.
All of you know damn well i helped make this popular ..you just won't admit publicly LOL

I posted 10 stories about Cryptys and updated one of them 2 hours ago.
Am i to believe all of that info was a waste of my time ?
According to Cryptsy yeah.. because i was a Troll FUD'ing.
Like when i mentioned there hack incident and paid for it with a 1 year chat ban.

guys i have stuck my neck out to warn you
And i was paid back in "threats" LOL
..LOTS of them too  

[Northstar]

the main reason i got a rep as a Troll was bad mouthing Cryptsy..

I told you so.

I also bad mouthed shit coins and said they would kill crypto and was argued with and called a Troll.

I told you so.

Sorry but you guys don't get to call me a Troll anymore.. i was right !

I said the mass coin cloning triggered by Doge coin was going to kill it all.
I also said the down fall of Cryptsy was in part because of their silence when problems arise.
BitJohn on more than one occasion agreed with me on this topic agreeing with my sentiments.
I was right and I told you so and no you guys can't call me a troll anymore.

I love how some of you here hate me so much but i helped spear head this topic with Gleb.
All of you know damn well i helped make this popular ..you just won't admit publicly LOL

I posted 10 stories about Cryptys and updated one of them 2 hours ago.
Am i to believe all of that info was a waste of my time ?
According to Cryptsy yeah.. because i was a Troll FUD'ing.
Like when i mentioned there hack incident and paid for it with a 1 year chat ban.

guys i have stuck my neck out to warn you
And i was paid back in "threats" LOL
..LOTS of them too  

I think you've done a good service to the community, your style is quite "in your face" but your work has helped cast doubt on these crooks and it was important. Our work isn't over yet. Craptsy is still withholding withdrawals, people are still oblivious.

[Hippie Tech]

umm..

https://who.is/domain-history/polonibox.com
Old Raw Registrar Data September 20, 2015

Registrant Email: oldmankidd @ winning . com

This is from a guy who, as one of Polo's top reps/admins, felt it was up to the customer to find out or care if SYNC's hidden premine(s) or conflicting block chains, should be of any concern.



Polo is also into craptsy like stuff such as listing broken/ disfunctional coins. eg NAS

Hey Spoetnoob.. what happened to your polo disinfo source ?

Did you lose them along with your PM's forum timestamps ? lmao

Why should we believe a PoloSCAMniex admin, and his troll box archive, who is willing to look the other way when it comes to trading/listing coins with hidden premines, altered/editted block explorers and stalled blockchains ?

The answer is we don't.. just as we do not believe anything you and your dumb shitler luvin ass says.
 
Btw.. this charade of an investigation is giving me and my friends (and the general public.. no doubt ) some pretty good LOLz.

WTG !