What the Cryptsy hack means for the exchange

By Daniel Zo Bitcoin, Cryptsy Read Comments

Cryptsy, also popularly known as the new Mt Gox, an exchange that people have been seeing as scammy for a good period of time, has finally come out and admitted that they have been hacked, and lost most of the user’s funds.

In fact, the Cryptsy team now has a total liability of roughly 10,000 BTC, which equals to around $3.8 million. Suspicions started appearing once customers using the platform begun experiencing issues when trying to withdraw their funds. Numerous reports have been made, with Cryptsy refusing to respond to most of them. Things became serious a couple of days ago, when an anonymous source confirmed that Cryptsy’s offices have been emptied, with no hint of the team. Once this happened, numerous lawsuits were filed against the company, and members of the community started bashing it.

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