{"id":711,"date":"2016-02-26T00:00:00","date_gmt":"2016-02-26T05:00:00","guid":{"rendered":"https:\/\/www.silvermillerlaw.com\/media-coverage\/court-documents-show-cryptsy-ceo-predicted-exchange-would-fail\/"},"modified":"2023-06-14T12:25:21","modified_gmt":"2023-06-14T12:25:21","slug":"court-documents-show-cryptsy-ceo-predicted-exchange-would-fail","status":"publish","type":"news_posts","link":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/court-documents-show-cryptsy-ceo-predicted-exchange-would-fail\/","title":{"rendered":"Court Documents Show Cryptsy CEO Predicted Exchange Would Fail"},"content":{"rendered":"

David Silver Quote:<\/strong><\/p>\n

\nA legitimate company would be addressing these issues head-on, and my question is, where is anyone from Cryptsy to address this lawsuit that has been going on for a month now? “Where is Paul Vernon?”<\/strong>\n<\/p><\/blockquote>\n

Weeks before disclosing that the digital currency exchange Cryptsy was insolvent, CEO Paul Vernon told a Florida divorce court in a financial affidavit that he expected the operator of the exchange to fail.<\/p>\n

The affidavit<\/a>\u00a0was filed on 22nd December \u2013 less\u00a0a month before Cryptsy would go on to claim\u00a0that it had been the target of\u00a0a debilitating hack<\/a>\u00a0in 2014 that left it\u00a0insolvent and with\u00a0millions in customer liabilities.<\/p>\n

At the time, Vernon said that the exchange, which largely focused on alternative cryptocurrencies, had been able to stay afloat thanks to fee\u00a0income, but that profits had dried up, leading to the exchange\u2019s collapse. Activity on Cryptsy remains frozen, with no customer update since 1st February, according to a notice on\u00a0the exchange\u2019s website<\/a>.<\/p>\n

The affidavit, filed amidst a months-long\u00a0divorce case<\/a>, shows that Vernon indicated his belief that\u00a0Project Investors, the operator of the exchange, would “dissolve”\u00a0in the near future because\u00a0of\u00a0a drop\u00a0in exchange income.<\/p>\n

Read the rest of the article.<\/a><\/p>\n","protected":false},"featured_media":1769,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news_categories":[],"class_list":["post-711","news_posts","type-news_posts","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nCourt Documents Show Cryptsy CEO Predicted Exchange Would Fail - SilverMillerLaw.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/court-documents-show-cryptsy-ceo-predicted-exchange-would-fail\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Court Documents Show Cryptsy CEO Predicted Exchange Would Fail - SilverMillerLaw.com\" \/>\n<meta property=\"og:description\" content=\"David Silver Quote: A legitimate company would be addressing these issues head-on, and my question is, where is anyone from Cryptsy to address this lawsuit that has been going on for a month now? 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