It's finally happened CRYPTSY is insolvent

[OSAC5CO]

Been locked out of my Cryptsy account for 6 days now. I have a smallish pending withdrawal. 

They have all the excuses why I can get in. SEND ME A FREAKING PASSWORD RESET LINK. Very simple!



If these guys cant even do something this simple, how can they be trusted with large sums of money!?

[Spoetnik]

is that really BigVerns house that has been foreclosed?

how do u know that's his house?

It doesn't matter who owns what house.
More importantly do you believe the large amount of bad stories coming from lots of different people ?
I have a phone book sized all on my own..

Transfer problems have reached a peak now for a month or two straight.

One of my stories involved Doge coin and how i sat on Cryptsy IRC for more than a week 24/7
offering support to Doge users who piled in one after another while mods were GONE.
ONE single guy came on IRC once to tell us the problem was fixed a week earlier and we were all full of shit.
His name was Ross and a few of us challenged whether he was actually Cryptsy staff.
Meanwhile various guys like pr9me and Mullick were connected but idle silent for a week+
While i helped guys non stop asking where their Doge coins went.. even though i despise that coin !
Yeah i am suuuuuch a monster people  

Lets back up a bit..
People may wonder WHY i was there.
Well, i had gone on various occasions to talk Cryptsy, Crypto etc
Then on one of my return visits i was surprised and a bit pissed off to see
All the Cryptsy chat box moderators had hijacked the IRC channel making themselves OP's

So.. over a week of almost non stop new connections from users ALL asking "Where is my Doge"
THEN 1 staff joined once and claimed everyone was full of shit and the problem was fixed already days earlier.
The place erupted and one guy i was helping to calm down lost it and raged on poor "Ross"
Who is that anyway ? first time i seen a Cryptsy Ross and last..

I know what was going on because i was logged in 24/7 for more than week.
So my mIRC client had logged every word from everyone the whole time.
So i would have known if staff showed up..

And before a Cryptsy guy comes here and beaks off.. YES i was advising people to join the Cryptsy support channel !
https://twitter.com/cryptsy/status/406132095761657856
And every time 100% every guy said ok and checked and ALL of them said there was nobody there.

CRYPTSY WAS HIDING.. for a week+

What you think i made that up guys ? You realize there was tons of witnesses right ?
Ryan who is Bittrex staff now chatted with me about Mountain Bikes back then at the same time.
He could confirm what i said if he was inclined.

1 of millions of stories guys.. and no sorry there are not all FUD attacks from Troll's
What they are, is tons of people having problems with their coins using Cryptsy.

[OSAC5CO]

Been locked out of my Cryptsy account for 6 days now. I have a smallish pending withdrawal. 

They have all the excuses why I can get in. SEND ME A FREAKING PASSWORD RESET LINK. Very simple!



If these guys cant even do something this simple, how can they be trusted with large sums of money!?

DAY SEVEN -  STILL LOCKED OUT. IT WOULD BE NICE IF YOU AT LEAST RESPONDED TO TECH SUPPORT EMAILS. LAME! LAME! LAME!

[OSAC5CO]

Been locked out of my Cryptsy account for 6 days now. I have a smallish pending withdrawal. 

They have all the excuses why I can get in. SEND ME A FREAKING PASSWORD RESET LINK. Very simple!



If these guys cant even do something this simple, how can they be trusted with large sums of money!?

DAY SEVEN -  STILL LOCKED OUT. IT WOULD BE NICE IF YOU AT LEAST RESPONDED TO TECH SUPPORT EMAILS. LAME! LAME! LAME!

Finally got into my crypts account yesterday. Withdrwal request made.
https://blockchain.info/address/1N9V1aBU2Y5fHDeo14zVFfKkXXQvBeCUDc


24 hours later not made. They have a wdl limit of $12 and chnage on my account! LOL


Goodluck to anybody with funds on crytpsy. They are through!

[Hazard]

Cryptsy... I remember during their early days, I found an bug involving the order book that allowed you to duplicate coins. It was so simple that people were unknowingly and unintentionally doing it. This bug went undetected for a very long time. They were very lucky that I was the one who found it, because I immediately went and told Vern about it, instead of abusing it. He ran a script that removed all these duplicated coins from people's wallet. You may remember this as the period when the forums were blowing up because a lot of people's balances had been corrected, and now were in the negatives. Communication was piss poor and everyone thought they were being stolen from, when in reality their balances were just being adjusted to what they should have been. The whole situation was handled pretty awful. Wouldn't surprise me one bit if another similar bug has been going on undetected for a long time, and their wallets slowly drained.

I now have some funds stuck in there that I'll probably never get out. A small 0.05 BTC withdrawal has been pending for a week.

C'est la vie.

[psycodad]

I have been depositing and withdrawing coins with cryptsy on a more or less daily base since almost a year.
Since the rumors about cryptsy being insolvent or a scam began, I reduced my balance continuously from over 2btc to ~0.5 and then further to ~0.1.

I haven't been here when Mtgox closed its doors but I've heard enough of it to see the signs written on the wall in fat letters wrt to cryptsy when my daily withdrawals delays grew from minutes to hours and from hours to more than a day.
Because of this I thought it would be time to evacuate all my dust from cryptsy and as feared my 3 withdrawals, together around 0.12btc, are stuck since more than a week. Support doesn't answer my ticket and the 5 updates to the ticket I have made during this last week. Like many I was offered to cancel my withdrawals in order to withdraw in any other currency but this request of me was never honoured or answered by their support.

I have no crystal glass to judge if they are insolvent, incompetent or scammy or multiple of those but from my definition they have definitely gone mammal glands upwards around a week ago. Should I - against all expectations and logic - get my withdrawals processed - I will in all fairness update this post.

For those still trusting in cryptsy and depositing: Please do not hold your breath while waiting for a withdrawal to actually process its not good to leave your brain that long without oxygen.

C'est la vie.

Well said.

[UPDATE 9. Dec 2015]: After opening a second ticket on 7. Dec again demanding to cancel the pending withdrawals, a new support agent replied within 24 hours that my withdrawals from 28th and 29th November have been cancelled and are returned my balance. I was then able to buy VTC from my BTC and LTC balance and could successfully withdraw it to Bittrex.
So after almost two weeks I was able to get my little remaining balance out with some loss.

[adaseb]

I was going to do some arbitage because I noticed that there is a high bid on Cryptsy compared to most other exchanges on Doge.

Then I noticed that many people are complaining about withdraw issues. Luckily I sent my Doge back to the other exchange minus the fees.

So I guess you can withdraw DOGE and not BTC. Same thing happened on Cryptorush.

These damn exchanges.

[junbi39]

insolvent?that remains to be proved.

[OSAC5CO]

Been locked out of my Cryptsy account for 6 days now. I have a smallish pending withdrawal. 

They have all the excuses why I can get in. SEND ME A FREAKING PASSWORD RESET LINK. Very simple!



If these guys cant even do something this simple, how can they be trusted with large sums of money!?

DAY SEVEN -  STILL LOCKED OUT. IT WOULD BE NICE IF YOU AT LEAST RESPONDED TO TECH SUPPORT EMAILS. LAME! LAME! LAME!

Finally got into my crypts account yesterday. Withdrwal request made.
https://blockchain.info/address/1N9V1aBU2Y5fHDeo14zVFfKkXXQvBeCUDc


24 hours later not made. They have a wdl limit of $12 and chnage on my account! LOL


Goodluck to anybody with funds on crytpsy. They are through!

Deposit completed.

[Crestington]

I tend to think most of what is being said is mostly trolling but I have to say that I have begun to see many reports in the last few weeks of people not being able to withdraw their funds.

[sofu]

A lot of altcoins have higher prices on cryptsy. I guess its a trap to get more coins. Big Vern is Karpeles little brother.

[MaritiJames3]

It is not over, but it will be come january. Just look how the market of altcoins is destroyed for coins which sole exchange was cryptsy.
Don't be too late, and withdraw your funds people.

[owlcatz]

It is not over, but it will be come january. Just look how the market of altcoins is destroyed for coins which sole exchange was cryptsy.
Don't be too late, and withdraw your funds people.

Good. Alt coins suck. They are a scam. Pump n Dump. They suck money out of bitcoin and other non-scam new coins like monero etc.

[Bobsurplus]

It is not over, but it will be come january. Just look how the market of altcoins is destroyed for coins which sole exchange was cryptsy.
Don't be too late, and withdraw your funds people.

Good. Alt coins suck. They are a scam. Pump n Dump. They suck money out of bitcoin and other non-scam new coins like monero etc.

LOL, how do they suck money out of bitcoin?

[MaritiJames3]

They are not gone yet, but give it a few weeks. Cryptsy losing so many customers can't be good for business. Then them
getting so much bad media attention makes it even worse. I don't think they will be able to survive this mess.

[erre]

insolvent?that remains to be proved.

They are supposed to prove to be solvent, not the contrary!
The prove that they are insolvent is that I can't withdraw!

[bhokor]

....what the hell, really sad to see so bad behaviour in some exchanges,  it was one of the biggest..

[Spoetnik]

I was going to do some arbitage because I noticed that there is a high bid on Cryptsy compared to most other exchanges on Doge.

Then I noticed that many people are complaining about withdraw issues. Luckily I sent my Doge back to the other exchange minus the fees.

So I guess you can withdraw DOGE and not BTC. Same thing happened on Cryptorush.

These damn exchanges.

Please don't..
All your doing is putting yourself at risk.
And causing a higher premium to people forced to buy a shitcoin to bail out of Cryptsy.
AND making far too much traffic for the site to process withdrawals.

People doing that are pathetic vultures making a bad situation worse.
You decide to Arbitrage coins over there to capitalize on others misfortune while
making user wait times longer and longer.

Please think about it from different angles guys.

[wlefever]

Welp my time to try and withdraw my small amounts of BTC left in Cryptsy has resulted in a Pending withdraw.  I had never really had an issue, but have been following the insolvency threads which look like are all true.

[BTCBinary]

Cryptsy or the new GOX?
Cryptsy is going Craptsy. I still haven't managed to get my coins out. I imagine how many Dev teams are being impaired with this situation.