Cryptsy, once the largest altcoin trading platform, has been non-existent for approximately one year, however, their website has suddenly sprung to life. Although, you won't be able to login or do much of anything but read what they have to say.

The website now contains settlement proceeding information.

"If you are a CRYPTSY account holder and are unable to access your CRYPTOCURRENCY, you could get money from two different class action settlements, and an ongoing class action lawsuit may affect your rights. PLEASE READ THE NOTICE CAREFULLY."

Note they want you to "read carefully" ... I wonder if they can treat coins carefully? Thus far, they've pretty much sucked at it. 

Settlement Information

In a nutshell, the important dates are:

  1. April 17, 2017 - Deadline to Request Exclusion (must be postmarked by this date)
  2. May 3, 2017 - Deadline to Object (must be postmarked by this date)
  3. May 17, 2017 - Deadline to submit a Claim Form (must be submitted online by or postmarked by this date)
  4. June 2, 2017 at 10:00 A.M. - Fairness Hearing

They list these options:

  1. DO NOTHING - Get no payment from the Settling Defendants. Give up your rights to ever recover from the Settling Defendants for the legal claims in this case if the settlements are approved. You will remain a Class Member in the lawsuit against Cryptsy and Vernon, which are referred to collectively as the “Non-Settling Defendants,” and retain the possibility of getting money or other benefits from the Non-Settling Defendants that may come from trial or settlement.
  2. EXCLUDE YOURSELF FROM EITHER OR BOTH OF THE SETTLEMENTS - Get no payment from the settlements. This is the only way that you can file your own lawsuit or ever be part of any other lawsuit about the legal claims in this case against any of the Settling Defendants. You may exclude yourself from one or both settlements. Even if you exclude yourself from one or both of the settlements, you will remain in the Class for purposes of the continuing lawsuit against the Non-Settling Defendants and will be bound by the outcome unless you submit a written exclusion request.
  3. SUBMIT A CLAIM FORM FOR YOUR SHARES OF THE SETTLEMENTS - The only way to receive money from the settlements when the funds are distributed is by submitting a claim form by May 17, 2017.
  4. OBJECT TO OR COMMENT ON THE SETTLEMENTS - Write to the Court about why you like or do not like the settlements by no later than May 3, 2017. You may also ask to speak to the Court about your written comments or objections about the fairness of either or both of the settlements at the “Fairness Hearing” on June 2, 2017, though you do not have to do so. To comment on or object to either or both settlements and request to speak at the “Fairness Hearing,” you must act before May 3, 2017.
  5. GO TO THE COURT’S FAIRNESS HEARING ABOUT THE SETTLEMENTS - If you would like, you may ask to speak in Court about the fairness of one or both of the settlements. You do not need to speak to the Court to receive benefits under the settlements.
They also list this website: for more information.

The bigger question is the amount of time expended on doing anything being worth any possible compensation. There's little to nothing to go around and nobody knows where "Big Vern" has slithered off to.

That said, we'll be going through the process as we did with Mt. Gox and we'll report our findings. 

Article by dinbits
Image Credits:
Banner Image by staff

The opinions expressed by authors of articles linked, referenced, or published on do not necessarily express, nor are endorsed by, the opinions the of or its affiliates.

Post a Comment

Powered by Blogger.