Post
Topic
Board Service Discussion (Altcoins)
Re: Any truth to this? Cryptsy lawsuit?
by
defaced
on 24/10/2014, 21:51:34 UTC
Doesnt look legit imho

http://www.silverlaw.com/securities-lawyers/2014/10/silver-law-group-files-lawsuits-against-cryptocurrency-exchanges-bitcoin-savings-trust-and-cryptsy/

Silver Law Group has filed two lawsuits, one against Texas-based Bitcoin Savings & Trust (operated by Trendon Shavers) and another against Florida-based Cryptsy (operated by Paul Vernon).  According to the Complaints, investors have been victimized by deceptive and misleading tactics, such as claims of profits of 7% weekly interest or of a safe and reliable platform to trade cryptocurrencies free from excessive fees and commissions.  While Mr. Shavers raised more than 700,000 Bitcoin in principal investments from investors, those Bitcoins have disappeared.  Likewise, investors with Cryptsy, which CoinDesk has touted as “the largest crypto-to-crypto exchange,” have seen their accounts emptied and Bitcoin simply disappear.  On behalf of its clients, Silver Law Group has pursued nearly $12 million in restitution from these online operators.

All this looks so bad. Is there any good exchange at all?  If there will be exchanges scamming people one way or another every month, crypto will not move anywhere at all.

Thing is, cryptsy never scammed anyone.