CRYPTSY stopping withdraw locking accounts without notifying users! Class Action

[YuTü.Co.in]

Supposedly, Paul took out a company loan for ~U$1M prior to the "hack" and it was that money used to purchased the home years later which could've gone toward Cryptsy's users if Paul so concerned about them as stated while tryin' to keep the company solvent.

Paul Vernon needs to wake up and smell the coffee. He should return home to his beloved U S of A. He could easily make a plea deal with the law enforcement agents by returning the stolen amounts along with say a 20% figure and he can keep the rest to live a cushy life.

Question to Paul Vernon:
If the company was having financial problems, how is it that you were able to make a $1.3 million cash purchase on the Delray home in March 2015?

Answer given by Paul Vernon:
In the first year of operation from May 2013 to May 2014 the company had revenues of close to $3m. During this period I was paid $1.1m via the regular payroll system, base salary + quarterly bonuses. The initial purchase and down payment for that home was in February 2014. I took a loan from the company for $600k to complete the purchase at a time when the company was still performing well.

Question to Paul Vernon:
Your wife Lorie has been added to the lawsuit as a defendant. Would you like to respond on her behalf or speak to the extent of her involvement with Cryptsy?

Answer given by Paul Vernon:
She is my ex-wife. She had no involvement with Cryptsy. I cannot respond on her behalf.

Here is the source: http://www.miaminewtimes.com/news/cryptsy-founder-paul-vernon-speaks-out-about-millions-in-lost-customer-funds-8568540

Bravo! You continue to have no problem sourcing info when it quasi-negates my posting.

BTW, revenues of U$3M IS NOT the same as profit of U$3M. A company could sell a million ten-dollar widgets, but the profit would be shit if it the widgets each took U$9.97 to produce and ship. The money that Paul supposedly borrowed were funds on account on the exchange which he liquidated unbeknownst to users. The hacked funds was Paul's bonus for providing such a robust exchange.

[1715376192]

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[1715376192]

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[JollyGood]

Bravo! You continue to have no problem sourcing info when it quasi-negates my posting.

BTW, revenues of U$3M IS NOT the same as profit of U$3M. A company could sell a million ten-dollar widgets, but the profit would be shit if it the widgets each took U$9.97 to produce and ship. The money that Paul supposedly borrowed were funds on account on the exchange which he liquidated unbeknownst to users. The hacked funds was Paul's bonus for providing such a robust exchange.

And a quasi-negate Bravo to you too Bruno 

Here is the part I do not understand.... Any man or woman including the Pauldemort would use any stolen bitcoins regardless of how many millions he may have access to here and there. The fact he has not moved nor spent them means something is being missed. If he is dead, that explains it.

If he is alive and well, he might be keeping them where they are to double-bluff people by showing he is not in control of them... or maybe there is something else more sinister going on here. How long can he live out there in China without getting spotted? Sure there is no extradition treaty but many people from the U S of A travel to China for holidays nowadays. Maybe an ex-Cryptsy investor or reporter might bump in to him. He could easily go to the US embassy in Beijing and make an offer to surrender on conditions that he return the investment that people lost and keeps most of the profit. What a fool he is...

[YuTü.Co.in]

Bravo! You continue to have no problem sourcing info when it quasi-negates my posting.

BTW, revenues of U$3M IS NOT the same as profit of U$3M. A company could sell a million ten-dollar widgets, but the profit would be shit if it the widgets each took U$9.97 to produce and ship. The money that Paul supposedly borrowed were funds on account on the exchange which he liquidated unbeknownst to users. The hacked funds was Paul's bonus for providing such a robust exchange.

And a quasi-negate Bravo to you too Bruno  

Here is the part I do not understand.... Any man or woman including the Pauldemort would use any stolen bitcoins regardless of how many millions he may have access to here and there. The fact he has not moved nor spent them means something is being missed. If he is dead, that explains it.

If he is alive and well, he might be keeping them where they are to double-bluff people by showing he is not in control of them... or maybe there is something else more sinister going on here. How long can he live out there in China without getting spotted? Sure there is no extradition treaty but many people from the U S of A travel to China for holidays nowadays. Maybe an ex-Cryptsy investor or reporter might bump in to him. He could easily go to the US embassy in Beijing and make an offer to surrender on conditions that he return the investment that people lost and keeps most of the profit. What a fool he is...

I'm typing this real slow so that you can understand it. The "hacked" bitcoins haven't been touched by Paul because he's still living off the other millions of dollars worth of crypto liquidated during his stint at Cryptsy. It's not rocket science!

This is where King Vernon used to shit: http://www.movoto.com/home/16832-charles-river-dr-delray-beach-fl-33446-435_rx-10302548

[JollyGood]

I'm typing this real slow so that you can understand it. The "hacked" bitcoins haven't been touched by Paul because he's still living off the other millions of dollars worth of crypto liquidated during his stint at Cryptsy. It's not rocket science!

Those millions are not enough for a greedy SOB who ended losing his right to return to his home country and will not see his kid/kids from wifey #1 grow up!

I'm typing this real slow so that you can understand it: Any greedy SOB would definitely move those bitcoins REGARDLESS of how many millions he currently has access to and is spending!!

Hphew... with that off of my chest, can I be rest assured my comment was understood and not quasi-negated  

So you broke in to the Pauldemort Hogwart equivalent to capture photographs of his very private place of peace and zen tranquility

[YuTü.Co.in]

I'm typing this real slow so that you can understand it. The "hacked" bitcoins haven't been touched by Paul because he's still living off the other millions of dollars worth of crypto liquidated during his stint at Cryptsy. It's not rocket science!

Those millions are not enough for a greedy SOB who ended losing his right to return to his home country and will not see his kid/kids from wifey #1 grow up!

I'm typing this real slow so that you can understand it: Any greedy SOB would definitely move those bitcoins REGARDLESS of how many millions he currently has access to and is spending!!

Hphew... with that off of my chest, can I be rest assured my comment was understood and not quasi-negated  

So you broke in to the Pauldemort Hogwart equivalent to capture photographs of his very private place of peace and zen tranquility

In re your last sentence, I'm in my third year sentencing for once pulling a similar stunt, of which it's quasi-illegal for me to pen the names Josh Zerlan or Bruce Peterson, but doing such gives me a pseudo-hardon.

[JollyGood]

In re your last sentence, I'm in my third year sentencing for once pulling a similar stunt, of which it's quasi-illegal for me to pen the names Josh Zerlan or Bruce Peterson, but doing such gives me a pseudo-hardon.

Bwahaha  

So the next important point of discussion is: who is the real Satoshi Nakamoto?

It has been an interesting few weeks returning back to Cryptos and all but I think I may have to just call it quits and return after a few years to see what is going on. I am kind of losing my bit-mojo here on this forum.  All of you guys, especially Bruno made it an interesting read, I enjoyed my time but I am thinking of retiring.. sadly of course. Or maybe, quasi-retiring, or... maybe will return after finding my bit-mojo...

[YuTü.Co.in]

You're doin' it wrong!

[HI-TEC99]

Sure there is no extradition treaty but many people from the U S of A travel to China for holidays nowadays. Maybe an ex-Cryptsy investor or reporter might bump in to him. He could easily go to the US embassy in Beijing and make an offer to surrender on conditions that he return the investment that people lost and keeps most of the profit. What a fool he is...

If he's still in China he's probably there as an illegal alien. His visa must have expired by now, and I can't imagine how he could get another. He would stand out like a sore thumb in China, and all the locals would be talking about him. There must have been some Chinese cryptsy customers who he ripped off. It only takes one of them taking an interest in a new American living in the neighbourhood to blow his cover.

[gamfreak11]

It's not really such an elaborate lie. She could just be very dumb/naive.

"Wow honey, you bought a mansion! Is your business really doing that well?"

"Yes."

"Wow, that's great! I love you forever! I love our life wheeee"

[YuTü.Co.in]

Sure there is no extradition treaty but many people from the U S of A travel to China for holidays nowadays. Maybe an ex-Cryptsy investor or reporter might bump in to him. He could easily go to the US embassy in Beijing and make an offer to surrender on conditions that he return the investment that people lost and keeps most of the profit. What a fool he is...

If he's still in China he's probably there as an illegal alien. His visa must have expired by now, and I can't imagine how he could get another. He would stand out like a sore thumb in China, and all the locals would be talking about him. There must have been some Chinese cryptsy customers who he ripped off. It only takes one of them taking an interest in a new American living in the neighbourhood to blow his cover.

https://www.internations.org/china-expats/guide/moving-to-china-15402/visa-types-and-requirements-for-china-2

Visa Requirements

There are various types of visa for China, all of which are categorized with enigmatic abbreviations such as “C visa” or “X visa”. These abbreviations are based on the Chinese designations for specific visa categories: C (chuányuán = crew), L (lǎowài = foreigner, tourist), X (xuéshēng = student), J (jìzhě = journalist), G (guòjìng = transit), etc.

Thus, an L visa is the one you need to enter the country as a visitor for private purposes, e.g. for a sightseeing tour, to meet a friend, or to see a family member. Such an L visa is valid for a stay of 30 days, though you might be able to renew it in the country. It is therefore the sort of visa a visitor rather than an expat needs.

Applying for an L visa usually requires the following documents:

- a completed application form
- a valid passport with blank visa pages
- a recent passport photograph
- a copy of your return flight ticket, your hotel reservation, and a signed itinerary

If you are invited by a friend or family member, you should enclose their letter of invitation and a copy of their ID card or residence permit, too.

Short-Term Visa

If you are planning to come for a short-term assignment, a business trip, a language course, an internship, or a term at a Chinese university, you should look into applying for a so-called F visa. This visa addresses the needs of non-tourist visitors. You must apply for an F visa if you want to stay in China for commercial or academic purposes for up to six months.

For a successful visa application, please bring these documents:

- a completed application form
- a valid passport with blank visa pages
- a recent passport photograph
- an invite from the Chinese government, an associated company, or a relevant Chinese institution, or indeed a letter of acceptance from a Chinese university or language school

If you’re planning on studying in China for more than 180 days, you need an X1 visa.

Long-Term Work Visa

Expats who want to stay longer than for six months usually go for the Z visa. This kind of visa is intended for foreign businesspeople, employees, and their family members. (International journalists are the exception, as they have a category of their own, the J1/J2 visa.) As well as the usual application form, passport, and photograph, the Z visa generally requires several official documents:

- an official letter of invitation
- a health certificate covering a recent medical exam
- an official employment license from the Chinese authorities

However, the regulations may vary slightly for special sub-categories of foreign staff, e.g. NGO workers, people employed in the offshore petroleum industry, and several other options.

For the employment license, you need to have a status as a “foreign expert” with special qualifications, e.g. as an EFL-teaching native speaker with a B.Ed., or a contract from a company officially accredited to employ foreign nationals. Fulfilling these requirements will help your future employer obtain the employment license for you. Specific details on all types of visas and requirements can be found on the Chinese Embassy website (in English).

China may not have an extradition treaty with the US, but they sure the hell do have laws on the books as to who's allowed to stay in the country for an extended period of time.

Hey, I just had an idea. You're gonna love this. Since it's probably safe to say that the Chinese government know exactly where Paul Vernon is, I think that the authorities should pick him and extract from him the private keys to unlock the stolen bitcoins, akin to civil asset forfeiture here in the US, then kick his pussy ass outta the country, perhaps sent to Mongolia to live in a yurt on a spread tending yaks.

[BagHolder010]

Why is everyone here is sure that Paul is in China, did he say to everyone before he left the US that he's going to China? What if he went there for a day then moved to another country and has been there for already a year at least I mean there are over 75 counties with no extradition treaty with the US! how many of these can he buy a passport with that much money he stole? and why I'm feeling like this could turn to a really nice movie lol

[HI-TEC99]

Why is everyone here is sure that Paul is in China, did he say to everyone before he left the US that he's going to China? What if he went there for a day then moved to another country and has been there for already a year at least I mean there are over 75 counties with no extradition treaty with the US! how many of these can he buy a passport with that much money he stole? and why I'm feeling like this could turn to a really nice movie lol

Although there are plenty of countries that will sell you a citizenship/passport I don't know how many will do it without contacting the country you were born in to verify your identity and ask questions about criminal records, etc.

Are there any countries that will do that? If there are they must at least want to check your current passport to verify your name. Surely there aren't any countries where you can buy citizenship under a name like John Smith without even a check on your passport.

If big Vern does manage to buy citizenship it will most likely be under the name Paul Vernon rather than John Smith.

[JollyGood]

Why is everyone here is sure that Paul is in China, did he say to everyone before he left the US that he's going to China? What if he went there for a day then moved to another country and has been there for already a year at least I mean there are over 75 counties with no extradition treaty with the US! how many of these can he buy a passport with that much money he stole? and why I'm feeling like this could turn to a really nice movie lol

Tom Cruise is probably too short to play the lead role of Paul Vernon

[Spoetnik]

Why is everyone here is sure that Paul is in China, did he say to everyone before he left the US that he's going to China? What if he went there for a day then moved to another country and has been there for already a year at least I mean there are over 75 counties with no extradition treaty with the US! how many of these can he buy a passport with that much money he stole? and why I'm feeling like this could turn to a really nice movie lol

I've posted that on here before and I lean towards him moving to South America or some shit.
All of us are posting "he's in China" on this topic for a year or two..
And JollyGood if you red the first few pages here you'd have noticed that Vern is keenly aware of this topic

I think he would avoid touching the coins out of fear of them getting tracked and then having been found.

JOLLY
Your assertion greedy people do things is bullshit.
What do greedy people do?
Well.. If he does in fact have the private keys then the money is not going anywhere.
Then it becomes a matter of desire to spend.

I posted here long ago I think he got sick of it all and wanted out.
That was the driving force..
Coupled with a changing climate I harped on with his chat box..
He seen what I seen and cashed out and walked and did what many do when the titanic hits an iceberg..
And that is rip off shit on the way out the door.

JollyGood you are clueless grasping at straws here playing catch up.
I was watching since month one bud..
I know these people a hell of a lot better than you do.

Vern did not like the spotlight or dealing with people publicly..
He went on his chat box a couple times a year.
In video interviews he was shy and awkward.
He's not a bad guy and was always trust worthy until the end.
He made a mistake.. One of opportunity.

Making him out to be a monster who planned this scam out from day one is stupid.
He meant well but wanted out.. So he closed up shop.
And I too would have probably stolen all the money in the bank before I closed it.
I don't see that as surprising really.
Have you all sat on millions in money that you could take with no one watching?

He is guilty I think but let's be real.. He meant to run a service but things went to shit.
Many of you are forgetting when the so called hack happened crypto coin prices were dropping for 2 year steady more and more.. And users were drying up at Cryptsy.
So the situation from his own business perspective had to be fairly bleak.

I subscribe to the theory that he got sick of this shit and walked away..
He sure as fucking hell would not be the only one either..
I dumped all my BTC as It hit 1k each knowing the feeding frenzy and scammy coin cloning antics and rush of shit head NOOBS piling in would cause a deep recession... I kept saying it on Cryptsy chat and I know Vern heard me saying it.
Me and Vern walked at the same time pretty much..
And I was right.
Prices of alt's were decimated until mid 2016 when a new rush of retards rushed in fer teh roiz.
Even BTC hit sub 300 as I seen coming a mile away.

Many of you are off base on this clueless..

[JollyGood]

Me and Vern walked at the same time pretty much..

Hmmm...

[Gleb Gamow]

Why is everyone here is sure that Paul is in China, did he say to everyone before he left the US that he's going to China? What if he went there for a day then moved to another country and has been there for already a year at least I mean there are over 75 counties with no extradition treaty with the US! how many of these can he buy a passport with that much money he stole? and why I'm feeling like this could turn to a really nice movie lol

I've posted that on here before and I lean towards him moving to South America or some shit.
All of us are posting "he's in China" on this topic for a year or two..
And JollyGood if you red the first few pages here you'd have noticed that Vern is keenly aware of this topic

I think he would avoid touching the coins out of fear of them getting tracked and then having been found.

JOLLY
Your assertion greedy people do things is bullshit.
What do greedy people do?
Well.. If he does in fact have the private keys then the money is not going anywhere.
Then it becomes a matter of desire to spend.

I posted here long ago I think he got sick of it all and wanted out.
That was the driving force..
Coupled with a changing climate I harped on with his chat box..
He seen what I seen and cashed out and walked and did what many do when the titanic hits an iceberg..
And that is rip off shit on the way out the door.

JollyGood you are clueless grasping at straws here playing catch up.
I was watching since month one bud..
I know these people a hell of a lot better than you do.

Vern did not like the spotlight or dealing with people publicly..
He went on his chat box a couple times a year.
In video interviews he was shy and awkward.
He's not a bad guy and was always trust worthy until the end.
He made a mistake.. One of opportunity.

Making him out to be a monster who planned this scam out from day one is stupid.
He meant well but wanted out.. So he closed up shop.
And I too would have probably stolen all the money in the bank before I closed it.
I don't see that as surprising really.
Have you all sat on millions in money that you could take with no one watching?

He is guilty I think but let's be real.. He meant to run a service but things went to shit.
Many of you are forgetting when the so called hack happened crypto coin prices were dropping for 2 year steady more and more.. And users were drying up at Cryptsy.
So the situation from his own business perspective had to be fairly bleak.

I subscribe to the theory that he got sick of this shit and walked away..
He sure as fucking hell would not be the only one either..
I dumped all my BTC as It hit 1k each knowing the feeding frenzy and scammy coin cloning antics and rush of shit head NOOBS piling in would cause a deep recession... I kept saying it on Cryptsy chat and I know Vern heard me saying it.
Me and Vern walked at the same time pretty much..
And I was right.
Prices of alt's were decimated until mid 2016 when a new rush of retards rushed in fer teh roiz.
Even BTC hit sub 300 as I seen coming a mile away.

Many of you are off base on this clueless..

The company started in March 2013.
In October 2013, staff started to get paid.
In early 2014, Vern takes out a loan from the company to buy a mansion in Florida.
By July 2014, Vern wants out so he hacks Cryptsy, getting out the same time as Spoetnik.

I don't think so!

[Spoetnik]

Jolly found me out.. Someone call Hippie tech quick, he'll love this.

I think the moral of this story is money corrupts.
Vern started with good intentions but..

He likely had personal reasons coupled with his view that crypto was dying..
It was guy's.. NOOB's here now will have no clue that happened.
They are wrapped up in the new fantasy land of never ending raining ICO SCAM money now.
But i watched as BTC and every Altcoin was decimated for YEARS.
BITCOIN ITSELF WAS SUB $300 Instead of over a grand and rising..
User growth slowed to a crawl and many left..
Altcoin prices were slaughtered leaving tons of broke bag holders.
The climate in crypto was vastly different than it was now.
There is no way that did not factor into Vern's decision to leave.
And look at this way.. Guilty or not he still decided to leave when he did!

I also posted on here why I quit and how I figured Vern agreed with me.
Even BitJohn said he did when back in the start of 2014 he was still arguing..
That shitcoin support is good.
It's not.
It will collapse and what I kept saying all over is it's hard to feel sorry for greedy worthless selfish short sighted losers who show up here raping crypto for quick chump change profits.
Which is who flooded into crypto.. Not supporters.
But open mouth breathing baboons hell bent on profiting off of anything that was paying out.

Cryptsy pandered to these idiots while I kept lecturing them..
Would you give your kids candy every night for dinner?
Over and over all the Cryptsy guys cited "user demand"
So they could reap the reward while the going was good..
Then the kids got cavities..
I warned them not to pander to STUPID people.
They would not listen then it went to shit..
At that exact time Vern was doing his shit.. Setting up his exit.

This is why pandering is bad.
The people being pandered to will always turn on you eventually.
None of these people care about Cryptsy.
They are quislings.. Turn coats..
Shady money grubbing brats interested in one thing.
And that sure as fuck ain't supporting crypto.

So do I feel sorry for them?
Nope.. Not really.

Many knew better and refused to listen all the way up until Vern had to actually close the doors.
No matter how bad it got there was cheerleaders hell bent on sucking cock and crying FUD online.
So they could exploit people trying to leave by standing in the middle of the Doge coin exit ramp.
Those same assholes there at the end buying all the Doge coins to arb with are now playing victim on a class action lawsuit.. Looking for sympathy and demonizing Vern and staff.

They too must share some blame!

I warned people loud when GOX was pulling the same shit too..
It played out the exact same.

You all don't learn.
Or accept responsibility.
But it does not bother me that much because..
Many of you are cocky mouthy little mouthy brats.
I have been on the internet longer than many brats here have even been alive.. Jiggling their little dick holsters at me.

There is no age requirement here guys.
Which is why Polo shut down the chat box.
Stupid brats running wild.. Controlling crypto.

And Cryptsy was giving the keys to drive to the kidiot profiteers.
So I think if crypto kept getting better Vern would still be running Cryptsy right now.

Anyway..
I think the key may be to look at TX's between Cryptsy and Cryptsy China.
He had to have funded it and that should have some links to uncover..
That might shed more light on this and maybe even expose where he is.

[JollyGood]

Spoetnik your single posts are longer than Harry Potter books.. chillaxio 

[YuTü.Co.in]

Spoetnik your single posts are longer than Harry Potter books.. chillaxio 

Each post is a Patronus Charm.

[Spoetnik]

Spoetnik your single posts are longer than Harry Potter books.. chillaxio  

I have lots to say.
What I say is rarely going to get posted by anyone else.
Someone has to say it..

Not all things are explained easily in short form.
When discussing the entire history of an exchange yeah..

I can tell easily you are a kid JollyGood.
And that I turned you onto picture spamming here.
You copied me after I posted a couple.

Tl:DR
I post good shit.
My posts are better than yours.
It's about being real.
Blame can be spread around with Cryptsy.
It is not Vern alone who is the bad guy.
Even I have to share a little of it..
I used the service longer than I should have and I could have done more to warn users..

My message is simple..  FUD.

Embrace it and process it.
It is the voice of reason.

We SHOULD have fear, uncertainty and doubt about this stuff.

..and the fear should not be losing money but destroying crypto!

PS:
@JollyGood
That post was unnecessary.
It was a violation in many ways..
It was a personal insult.
It was off topic.
It was garbage posting.

People came here to talk about Cryptsy not discuss Spoetnik's posting style.
Well except for Bruno.. But he's not people.
What is he? I suspect illuminati lizard people overlord!