Clients closed in 2016 exchange Cryptsy will pay compensation of $1 million

The largest American cryptocurrency company Coinbase has managed to reach a settlement through collective action filed by customers of the now defunct exchange Cryptsy.

In accordance with the decisions of 27 November and 10 December 2019, Coinbase has agreed to transfer $962 500 escrow agent involved in the dispute. Previously, the plaintiffs have managed to seize 11 325 BTC.

Proposed Settlement Leidel … by ForkLog on Scribd

Judge’s Order by ForkLog on Scribd

Thus, the trial is nearing full completion. 17 APR 2020 there will be hearings which will decide whether to approve the settlement agreement, or to amend some of its provisions if necessary.

Exchange Cryptsy stopped work in January 2016, after which it work interested in US law enforcement agencies. Against Paul Vernon and Cryptsy was filed a class-action lawsuit investors.

In particular, the owner of exchange were accused of stealing more than 11,000 BTC in 2014, and destruction of evidence in the Commission of illegal acts.

In the middle of 2017 has reported that millions of dollars stolen from users of Cryptsy can be washed through Coinbase.

In the complaint it was stated that the American stock exchange should have known of the questionable origins of about $8.3 million, which, as claimed by the former CEO of Cryptsy Paul Vernon, was the income of the exchange. It is anticipated that these funds, which Vernon was deliberately stolen from the user, passed through Coinbase in a few years.


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