{"id":734,"date":"2017-07-28T00:00:00","date_gmt":"2017-07-28T04:00:00","guid":{"rendered":"https:\/\/www.silvermillerlaw.com\/media-coverage\/8-2-million-court-orders-default-judgment-against-cryptsy-ceo\/"},"modified":"2023-06-14T12:02:13","modified_gmt":"2023-06-14T12:02:13","slug":"8-2-million-court-orders-default-judgment-against-cryptsy-ceo","status":"publish","type":"news_posts","link":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/8-2-million-court-orders-default-judgment-against-cryptsy-ceo\/","title":{"rendered":"$8.2 Million: Court Orders Default Judgment Against Cryptsy CEO"},"content":{"rendered":"

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

\nThis order is a big step in the path towards vindication and justice for our clients in the cryptocurrency world who were taken advantage of by an exchange operator they trusted with their hard-earned funds.<\/strong>\n<\/p><\/blockquote>\n

A U.S. judge has ordered that the chief executive of the now-defunct cryptocurrency exchange Cryptsy must pay\u00a0$8.2 million in damages to its customers.<\/p>\n

U.S. District Judge Kenneth Marra handed down the order in the long-running class action lawsuit against the Florida-based cryptocurrency exchange\u00a0that collapsed<\/a>\u00a0in January\u00a02016 after months of growing complaints from customers. The class-action lawsuit\u00a0was filed<\/a>\u00a0shortly afterwards, with the court ultimately moving to\u00a0place Cryptsy\u00a0into receivership<\/a>\u00a0the following April.<\/p>\n

According to Marra’s July 27 court order, Cryptsy CEO Paul Vernon \u2013 who has\u00a0denied<\/a>\u00a0stealing user funds \u2013 “is liable to the Plaintiff Class in the principal sum of $8,200,000, for which let execution issue forthwith.”<\/p>\n

Vernon, who is believed to be currently residing somewhere in Asia, did not\u00a0respond to the allegations in court, a circumstance which led to this week’s default judgment.<\/p>\n

The order notably\u00a0states that the more than 11,000\u00a0bitcoins<\/a>\u00a0taken from the exchange by Vernon are owed to the customers.<\/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-734","news_posts","type-news_posts","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\n$8.2 Million: Court Orders Default Judgment Against Cryptsy CEO - 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\/8-2-million-court-orders-default-judgment-against-cryptsy-ceo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$8.2 Million: Court Orders Default Judgment Against Cryptsy CEO - SilverMillerLaw.com\" \/>\n<meta property=\"og:description\" content=\"David Silver Quote : This order is a big step in the path towards vindication and justice for our clients in the cryptocurrency world who were taken advantage of by an exchange operator they trusted with their hard-earned funds. 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