CRYPTSY stopping withdraw locking accounts without notifying users! Class Action

[frank2]

there is value in this house itself : CRYPTSY

if it was penny stock exchange - value of such house would be in billions

if it would go under bankruptcy - lawyers would sell to highest bidders

you say : small coins have no value : how much bigger intrinsic value having diamonds, posts stamps and so on

by allowing lawyers to sell Cryptsy to someone for pennies ( possibly to competitor who would close Cryptsy )

by this action ( or inaction ) - allowing to sell Cryptsy for ZERO - we would confirm ( as you  say) that all altcoins have ZERO value

actually, best outcome for all coin holders would be survival of cryptsy

an option to convert altcoin deposits in stakes in the company or similar

this happens quite often in bankrupcies

but it must be transparent an under our control

IMHO this is possible

that would:

1.prevent deaths of smaller coins

2.give some remote chances for recovery of funds

ordinary bankruptcy - lawyers will take all

What part of Craptsy is bankrupt do people not understand?

There is no money... coins of value were stolen 19 months ago... Craptsy has maybe $100k worth of crapcoins to dole out, so be patient...

Dead coins are worthless because they are scams which were abandoned after the pump-n-dump... don't invest in them, so some research before throwing your money away...

[nhminer]

I just withdrew 1.1M Sprouts -- now if I can only find some place to sell them ...

[duff]

What ideas concerning the purse of XPY? It is closed. On balance of purse of cryptsy 750k.

How do you know it's 750k? Can you post an address that you think is Cryptsy's XPY wallet?

https://chainz.cryptoid.info/xpy/wallet.dws?29868.htm

[CryptoNick]

They opened wallets to give themselves some positive props that they're still trying to make things work. I'm waiting for doge and btc to open but I have little hopes. Opening btc will allow a lot of withdrawals so their funds will be depleted by the massive withdrawals.

There is no BTC and or Doge! Opening empty wallets would allow BTC to come in and repeat the same fractional reserve ponzi that was implemented after the coins go missing.

[CryptoNick]

there is value in this house itself : CRYPTSY

if it was penny stock exchange - value of such house would be in billions

if it would go under bankruptcy - lawyers would sell to highest bidders

you say : small coins have no value : how much bigger intrinsic value having diamonds, posts stamps and so on

by allowing lawyers to sell Cryptsy to someone for pennies ( possibly to competitor who would close Cryptsy )

by this action ( or inaction ) - allowing to sell Cryptsy for ZERO - we would confirm ( as you  say) that all altcoins have ZERO value

actually, best outcome for all coin holders would be survival of cryptsy

an option to convert altcoin deposits in stakes in the company or similar

this happens quite often in bankrupcies

but it must be transparent an under our control

IMHO this is possible

that would:

1.prevent deaths of smaller coins

2.give some remote chances for recovery of funds

ordinary bankruptcy - lawyers will take all

What part of Craptsy is bankrupt do people not understand?

There is no money... coins of value were stolen 19 months ago... Craptsy has maybe $100k worth of crapcoins to dole out, so be patient...

Dead coins are worthless because they are scams which were abandoned after the pump-n-dump... don't invest in them, so some research before throwing your money away...

Lawyers will not be able to sell Cryptsy to anyone for less than what is owed to the depositors. They can liquidate assets yes, not sell it. Why would anyone buy an exchange that owes so much money only to put the coins in the exchange so people can leave with them and never come back? Those coins now go to other exchanges and leave the buyer holding a worthless exchange.

If the community were allowed to take over then that would be a different story. Then we implement a profit sharing agreement that all holders of coin get an IPO of sorts and revamp the infrastructure and security. The people who have their money in the exchange now stay as users and create a market again. This is the only way any type of repayment works since no one is dumb enough to just cover the coin that was stolen to buy a fraudulent exchange with PR problems. The only person who could afford to would be the thief.

The only people who would normally have the possibility of getting their BitCoin back are the MN Share holders. Funny how they are not going to be paid out though now. If the MN2 and MN markets could be shown as fake it would prove an inside job. Even though we know it was an inside job it would give more proof.

[Gleb Gamow]

I just withdrew 1.1M Sprouts -- now if I can only find some place to sell them ...

Hey, hang on to them till this rumored guy down south who used to be in the Army at Fort Hood gets his altcoin crypto exchange up and running. Expect his forum to go live first with its mods later becoming devs and support for this new exchange, with a recent grad from law enforcement school leading the security team. Oh, and later support (trained by former support) will consist of folks versed in the porn and penny auction spaces. Exciting times ahead!  

[thunderjet]

there is value in this house itself : CRYPTSY

if it was penny stock exchange - value of such house would be in billions

if it would go under bankruptcy - lawyers would sell to highest bidders

you say : small coins have no value : how much bigger intrinsic value having diamonds, posts stamps and so on

by allowing lawyers to sell Cryptsy to someone for pennies ( possibly to competitor who would close Cryptsy )

by this action ( or inaction ) - allowing to sell Cryptsy for ZERO - we would confirm ( as you  say) that all altcoins have ZERO value

actually, best outcome for all coin holders would be survival of cryptsy

an option to convert altcoin deposits in stakes in the company or similar

this happens quite often in bankrupcies

but it must be transparent an under our control

IMHO this is possible

that would:

1.prevent deaths of smaller coins

2.give some remote chances for recovery of funds

ordinary bankruptcy - lawyers will take all

What part of Craptsy is bankrupt do people not understand?

There is no money... coins of value were stolen 19 months ago... Craptsy has maybe $100k worth of crapcoins to dole out, so be patient...

Dead coins are worthless because they are scams which were abandoned after the pump-n-dump... don't invest in them, so some research before throwing your money away...

you are right when say that bankrutcy is a bad option,but it is inevitable if some big investor does not buy it.

If Cryptsy wants to stay in business,they needs a lot of income,big volume,quick and effective support response,deposit/withdrawal works smooth,fast trade engine - everything Cryptsy lacked before hack

So every investor have to put a lot of money at start and give members reasonable plan how to pay debt - that is not likely at all

you are also right when you say that Cryptsy fall will mean certain death for a lot of small coins - but uncontrolablle putting coins on exchange is one of reasons for Cryptsy security was on such low level - they had only one man Mullick to maintain few hundred wallets which was completely insane.They hired ordinary people to give endless excuses for a technical problems they had,instead to hire qualified tech support to maintain such beast.

Also there is a quite big security risk that Cryptsy can be bought by some notoriuos scammers,which could exploit sensitive private info of their members given through AML or make Mintpal 2

[Melech]

Nobody would buy Craptsy... who would buy a failed ponzi-scheme exchange with a bad reputation?

If someone wanted to start their own exchange, it would be easier, cheaper, and safer to start from scratch than to buy Craptsy's broken system with pissed off customers for $10M...

[ThePhwner]

Nobody would buy Craptsy... who would buy a failed ponzi-scheme exchange with a bad reputation?

If someone wanted to start their own exchange, it would be easier, cheaper, and safer to start from scratch than to buy Craptsy's broken system with pissed off customers for $10M...

I would say some people are still in the throes of Stage 3:

[sirazimuth]

what is the point in putting all this transactions and screenshots?  no offense just wondering , i have myself lost some btc due to this but what is the intention?  i pretty much consider the little i had there lost for ever

To be honest, there's really no point at all. I'm just an old coot with nothing better to do with my life so I opted to exercise the hobby of seeking meaningless shit off the Internet and post such to increase my post count. If I'm lucky, Leroy Fodor will come along and quote this particular post to add cred to his StakeMiners Ponzi in furthering depicting me a useless fuck out to scam the community and extort venerable cryptocoiners like himself to make me stop my ridiculous onslaught.

That, and I aspire to be a creative writer some day like Leroy Fodor, foregoing attending Ohio University in Athens, OH, like he did where he earned his B.B.A.

You definitely get cred for using venerable in a post!

Do I have cred for accidentally discovering that Cryptsy's office was abuzz prior, during and after the event via the some random info I gleaned from the Internet, taking a screenshot to boot to make sure you guys know that it's probably just some random stuff?

To be honest... I have skipped passed that stuff... I know it means something -- I just can't wrap my head around it.
I have a small head.

Maybe this analogy will help you.

Pretend you work in an office where your job is to trade real ugly women 24/7 that stand in front of your desk. To the right (or left) stands a beautiful blonde that'll do anything for anybody and is worth millions. Your job is to make sure she doesn't go missing while you're doin' your other job of trading off the ugly women that keep approaching your desk for other ugly women, all the while staring at that blonde worth millions.

Question: How long would it take you to notice that she's missing given that there's a bell tied around her neck of her naked body that rung every time she moved? BTW, she's locked in a glass room so that nobody can touch her, yet she disappears anyway.

Oh, and I forgot to mention her five identical sisters not worth as much but still valuable, also in locked glass cages always within eyesight of you that may disappear first five hours prior to the million dollar baby going missing. Would you notice?

And, her valuable international beautiful naked cousins also in your office locked in glass cages that you're responsible for to make sure they don't turn up missing. Would you notice if they disappeared too?

yo gleb
yu ever thought about bottling up all yer posts and turning it into a book and  do that self publish thing and sell it it on amazon?
hell,  id buy one  for a couple of  tittiecoin....you wll accept tittiecoin wont you? no?  how bout takcoin?
i always had this thing about takcoin......oh wait a  minute ...i might  be ot....fuck it   nm  

[frank2]

Nobody would buy Craptsy... who would buy a failed ponzi-scheme exchange with a bad reputation?

If someone wanted to start their own exchange, it would be easier, cheaper, and safer to start from scratch than to buy Craptsy's broken system with pissed off customers for $10M...

these two assumptions - fully agree

1.nobody will buy Cryptsy

2.for an external investor cheaper to finance new exchange ( maybe )

so

Cryptsy could be resurrected only by common effort of 300.000 users ( losers ) as a kind of joint stock company




edit: there is remote similarity with bankrupcy of Greece - avoided only by all losers ( banks in this case ) borrowing more to bankrupt organization

[Gleb Gamow]

there is value in this house itself : CRYPTSY

if it was penny stock exchange - value of such house would be in billions

if it would go under bankruptcy - lawyers would sell to highest bidders

you say : small coins have no value : how much bigger intrinsic value having diamonds, posts stamps and so on

by allowing lawyers to sell Cryptsy to someone for pennies ( possibly to competitor who would close Cryptsy )

by this action ( or inaction ) - allowing to sell Cryptsy for ZERO - we would confirm ( as you  say) that all altcoins have ZERO value

actually, best outcome for all coin holders would be survival of cryptsy

an option to convert altcoin deposits in stakes in the company or similar

this happens quite often in bankrupcies

but it must be transparent an under our control

IMHO this is possible

that would:

1.prevent deaths of smaller coins

2.give some remote chances for recovery of funds

ordinary bankruptcy - lawyers will take all

What part of Craptsy is bankrupt do people not understand?

There is no money... coins of value were stolen 19 months ago... Craptsy has maybe $100k worth of crapcoins to dole out, so be patient...

Dead coins are worthless because they are scams which were abandoned after the pump-n-dump... don't invest in them, so some research before throwing your money away...

you are right when say that bankrutcy is a bad option,but it is inevitable if some big investor does not buy it.

If Cryptsy wants to stay in business,they needs a lot of income,big volume,quick and effective support response,deposit/withdrawal works smooth,fast trade engine - everything Cryptsy lacked before hack

So every investor have to put a lot of money at start and give members reasonable plan how to pay debt - that is not likely at all

you are also right when you say that Cryptsy fall will mean certain death for a lot of small coins - but uncontrolablle putting coins on exchange is one of reasons for Cryptsy security was on such low level - they had only one man Mullick to maintain few hundred wallets which was completely insane.They hired ordinary people to give endless excuses for a technical problems they had,instead to hire qualified tech support to maintain such beast.

Also there is a quite big security risk that Cryptsy can be bought by some notoriuos scammers,which could exploit sensitive private info of their members given through AML or make Mintpal 2

I'm seeing a lot of transactions stemming form MintPal's known addresses going to and from Cryptsy leading up to the event... and continued thereafter.

Question: Can a person who embezzles his company file bankruptcy of said company after the fact?

[Gleb Gamow]

Nobody would buy Craptsy... who would buy a failed ponzi-scheme exchange with a bad reputation?

If someone wanted to start their own exchange, it would be easier, cheaper, and safer to start from scratch than to buy Craptsy's broken system with pissed off customers for $10M...

I would say some people are still in the throes of Stage 3:

Cryptsy et al. will always be in the throes of Stage 1 even after the confection.

[Gleb Gamow]

what is the point in putting all this transactions and screenshots?  no offense just wondering , i have myself lost some btc due to this but what is the intention?  i pretty much consider the little i had there lost for ever

To be honest, there's really no point at all. I'm just an old coot with nothing better to do with my life so I opted to exercise the hobby of seeking meaningless shit off the Internet and post such to increase my post count. If I'm lucky, Leroy Fodor will come along and quote this particular post to add cred to his StakeMiners Ponzi in furthering depicting me a useless fuck out to scam the community and extort venerable cryptocoiners like himself to make me stop my ridiculous onslaught.

That, and I aspire to be a creative writer some day like Leroy Fodor, foregoing attending Ohio University in Athens, OH, like he did where he earned his B.B.A.

You definitely get cred for using venerable in a post!

Do I have cred for accidentally discovering that Cryptsy's office was abuzz prior, during and after the event via the some random info I gleaned from the Internet, taking a screenshot to boot to make sure you guys know that it's probably just some random stuff?

To be honest... I have skipped passed that stuff... I know it means something -- I just can't wrap my head around it.
I have a small head.

Maybe this analogy will help you.

Pretend you work in an office where your job is to trade real ugly women 24/7 that stand in front of your desk. To the right (or left) stands a beautiful blonde that'll do anything for anybody and is worth millions. Your job is to make sure she doesn't go missing while you're doin' your other job of trading off the ugly women that keep approaching your desk for other ugly women, all the while staring at that blonde worth millions.

Question: How long would it take you to notice that she's missing given that there's a bell tied around her neck of her naked body that rung every time she moved? BTW, she's locked in a glass room so that nobody can touch her, yet she disappears anyway.

Oh, and I forgot to mention her five identical sisters not worth as much but still valuable, also in locked glass cages always within eyesight of you that may disappear first five hours prior to the million dollar baby going missing. Would you notice?

And, her valuable international beautiful naked cousins also in your office locked in glass cages that you're responsible for to make sure they don't turn up missing. Would you notice if they disappeared too?

yo gleb
yu ever thought about bottling up all yer posts and turning it into a book and  do that self publish thing and sell it it on amazon?
hell,  id buy one  for a couple of  tittiecoin....you wll accept tittiecoin wont you? no?  how bout takcoin?
i always had this thing about takcoin......oh wait a  minute ...i might  be ot....fuck it   nm  

Interesting! My first book was a major hit.

[sirazimuth]

snip
yo gleb
yu ever thought about bottling up all yer posts and turning it into a book and  do that self publish thing and sell it it on amazon?
hell,  id buy one  for a couple of  tittiecoin....you wll accept tittiecoin wont you? no?  how bout takcoin?
i always had this thing about takcoin......oh wait a  minute ...i might  be ot....fuck it   nm  

Interesting! My first book was a major hit.

lol

[suchmoon]

Cryptsy could be resurrected only by common effort of 300.000 users ( losers ) as a kind of joint stock company

Why?

Same logic applies no matter who would take it over - "losers" or an outside investor. You'd be better off starting a new business than taking over one that's $10m in the hole.

[Hippie Tech]

Question: Why is your pretend COLD WALLET connected to a live network, thus negating the term COLD WALLET?

Prosecutor: Paul Vernon, please explain how a cold wallet is secure.
PV: Sure. Coins are put in a safe then locked, and the key is tossed into a live volcano.
Prosecutor: So, how were Cryptsy's coins stolen?

Fucking volcanos... I knew we couldn't trust them, what with all the smoke screens and spewing lava bullshit.

You just described yourself.. in a metaphoric / round about way. ALEX.

https://bitcointalk.org/index.php?topic=1333813.msg13624076#msg13624076

 

Ironically, I commented in that thread sans reading a post, perhaps even the OP, only making light of its title.

At this penning I consider suchmoon a good guy and would hate to read that thread and learn something different. Thanks for the link, just the same. Now, I'm in a for-real quagmire.

Ok... if this ends up costing me more time/ effort than the BitJohn thingy... I'll be pissed.

I initially brought this up 83 pages ago... remember ? Read on and notice what suchnoob decided to omit from my post.
https://bitcointalk.org/index.php?topic=1173703.msg13545510#msg13545510

I luv it when a craptsy shill, tx42, inadvertently helps with my shitcoin disturbing by quoting this now deleted comment/post by Crustyngton.

re: ANN: CON Paycon

I have made a bunch of upgrades to the Blockchain for look, usability, security, and increased rewards for holding PayCon and have launched a new ANN thread since the Muddafudda has expressed that he will be unable to take the Coin any further.

Thanks for doing this. It's a shame that the original dev couldn't continue on with this project, but it looks to be in good hands now.

re: ANN: CON Paycon

Gotta subscribe to this one. I'm hearing Amazon will take it soon^TM and there is also eleventy billion buyback planned for the next 500 years. Buy now or cry later.

[Gleb Gamow]

yo gleb
yu ever thought about bottling up all yer posts and turning it into a book and  do that self publish thing and sell it it on amazon?
hell,  id buy one  for a couple of  tittiecoin....you wll accept tittiecoin wont you? no?  how bout takcoin?
i always had this thing about takcoin......oh wait a  minute ...i might  be ot....fuck it   nm 

What about a coffee table picture book? https://www.google.com/search?rlz=1C1CHFX_enUS549US549&biw=1093&bih=508&tbm=isch&sa=1&q=%22bitcointalk.org%2Findex.php%3Ftopic%3D1173703%22&oq=%22bitcointalk.org%2Findex.php%3Ftopic%3D1173703%22&gs_l=img.3...46725.46725.0.48089.1.1.0.0.0.0.80.80.1.1.0.eprnk%2Cegame%3Dsto...0...1.1.64.img..0.0.0.mqvCErKD288

[suchmoon]

Question: Why is your pretend COLD WALLET connected to a live network, thus negating the term COLD WALLET?

Prosecutor: Paul Vernon, please explain how a cold wallet is secure.
PV: Sure. Coins are put in a safe then locked, and the key is tossed into a live volcano.
Prosecutor: So, how were Cryptsy's coins stolen?

Fucking volcanos... I knew we couldn't trust them, what with all the smoke screens and spewing lava bullshit.

You just described yourself.. in a metaphoric / round about way. ALEX.

https://bitcointalk.org/index.php?topic=1333813.msg13624076#msg13624076

 

Ironically, I commented in that thread sans reading a post, perhaps even the OP, only making light of its title.

At this penning I consider suchmoon a good guy and would hate to read that thread and learn something different. Thanks for the link, just the same. Now, I'm in a for-real quagmire.

Ok... if this ends up costing me more time/ effort than the BitJohn thingy... I'll be pissed.

I initially brought this up 83 pages ago... remember ? Read on and notice what suchnoob decided to omit from my post.
https://bitcointalk.org/index.php?topic=1173703.msg13545510#msg13545510

I luv it when a craptsy shill, tx42, inadvertently helps with my shitcoin disturbing by quoting this now deleted comment/post by Crustyngton.

re: ANN: CON Paycon

I have made a bunch of upgrades to the Blockchain for look, usability, security, and increased rewards for holding PayCon and have launched a new ANN thread since the Muddafudda has expressed that he will be unable to take the Coin any further.

Thanks for doing this. It's a shame that the original dev couldn't continue on with this project, but it looks to be in good hands now.

re: ANN: CON Paycon

Gotta subscribe to this one. I'm hearing Amazon will take it soon^TM and there is also eleventy billion buyback planned for the next 500 years. Buy now or cry later.

Hippie, just to mess with your sarcasm detection disability I hereby reaffirm my strong belief that PayCON will be accepted by Amazon real soon^TM now and there is also an eleventy billion buyback planned for the next 500 years. It has also been proven beyond a reasonable doubt that I'm an alt of Crestington and every other person on this forum whom you don't like or who doesn't like you, although I have accidentally misplaced that proof in Gleb's volcano (it's about as NSFW as it sounds).

[Gleb Gamow]

Here's an interesting tidbit: Neither Horus, as promised, nor 99.999979% of the ~300,000 users who have moneys stuck on Cryptsy are conducting blockchain analysis like, or anything close to what I have, a person who didn't have a single satoshi worth of any crypto on Cryptsy. I need to see a doctor to have his finger(s) stuck up my ass in seeing if I'm stable or not.