Cryptsy under Multiple Federal Investigations

coinfire

This was on the front page of Reddit Federal Fishing Expedition 101

Redshift this will cause a big shake up and a lot of fall out if it turns out to be true.

Cryptsy will not survive this! Don’t leave your coins there…they will be seized or stolen in the very near future. The death spiral has begun.

If true, this will indeed cause a pretty big turmoil. The mintsy fiasco is an innocent joke compared to this…

This is Cryptsy’s reply…I don’t know what to make of it:
http://blog.cryptsy.com/post/130547612142/re-coinfire

Its a pretty mild response. How do you know you are under investigation? How do you know what complaints have been made and accusations levelled? 300 Pages of documents is a whack of paper but only one really matters. Indictments.
Not going to wait for the old…THIS WEBSITE HAS BEEN SEIZED by FBI sign to show up on trying to log in. I cleared my account about 2 weeks ago. Sorely tempted to try and get some more Reddcoin out of their clutches. Have to make a plan and commit some funds.

What a load of bollox… There is no way coinfire would know these details unless the investigators have made public allegations and confirmed they are investigating someone, which to my knowledge no one has.

Cryptsy is not meant to be a storage site so put your coins somewhere you control but I would take this news story with a mountain load of salt until you hear something official

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BrownSlaughter they were right about GAW/ZENCLOUD/PAYCOIN

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A little more information regarding the allegations.
http://www.ttm.news/2015/10/06/cryptsy-seeking-legal-action-against-mike-johnson/

Who is Mike Johnson??

The article certainly reads like FUD.

But of course with regulation creeping in Cryptsy will likely have to pull its socks up to stay in the game, like all the rest.

Naming things based on what they do rather than what the underlying crypto coin is would be a good start. We have to get less coin-centric in our outlook. That is my single biggest criticism of StartChat for example, although completely ignoring the existence of StartCoin for a moment, StartChat is actually a pretty good name for a communication app.

Excellent post…that would be a first step in moving altcoins from probable scams to at least an attempt to give one meaning and purpose.

OMG thats a horrible news… Despite some withdrawal delays issues Cryptsy seemed to be the most reliable altcoin exchange for me. I really hope they will not go for good

grant27 I have used them for about 2 years its a pain to have to change. I have not bought any bitcoin in about a month now because I have not found a website I trust to trade/ registered at yobit but its a russian website and i am a bit leery.
Soooo just waiting to see what shakes out…when its time to buy again I will be getting a whack of Reddcoin

Any alternative reliable Reddcoin exchange with a decent transaction volume out there?