Do you remember those untamed days of cryptocurrencies, like the wild western frontier.Now Crypto hotspots have swept into view, But let loose on the world was Cryptsy, that enigmatic figure carving out a tiny niche for himself in crowded markets. It was established back in 2013, And different players do play by the rules. Out of the blue, just like that kooky friend who throws the best party in town. Today only veteran crypto fans will still remember Cryptsy, which once occupied the center of the party. Explore more
When Cryptsy was bustling, it featured a range of altcoins. For those that loved cryptos in search of unusual digital treasures it was a veritable feast. Bitcoin, litecoins, dogecoins? But these were just a kind of vermouth on Cryptsy’s huge Table of bounty, traders wold also often see an active online dealer. They couldn’t wait to try out the latest coin hordences if it was lucky or a runway hit next– Overnight, nobody knew Even peeps into FlashFire could reveal the dawn more clearly Then whispers came out surrounding it late last year. Trouble flared up, like untidy weeeds in well-tendered flower-beds. Users found it next to impossible to get their money out, with their funds somewhere in lala land. The resulting fracas put Cryptsy directly in the firing line of traders, for reasons it surely did not want.
In late 2015 the storm picked up another notch. Cryptsy admitted to suffering a hack, resulting in a large supply of digital loot being looted by roving bandits. Users left holding the bag took to social media with bitter complaints and words of advice. For help from customer service? Where do you find the end of a rainbow?
Paul Vernon, Cryptsy’s brains, found himself facing financial scandal obliged to fight off a series of lawsuits. As the stay in court thickened like glue so grew Vernon’s skill at taking the ‘disappearing act’ off stage. His return may have been as nothing more than whispers on the wind, but the whole thing is still as cloudy as mist over a dawn.
Cryptsy’s disentanglement meanwhile wrote a story of caution, sounding age-old admonition everywhere it touched down–analogous to trusting takes years learning, just seconds destruction. Even today people still remember, while new OTCS were mushrooming all over the Internet Cryptsy’s epic serves as a salutary warning to be on guard.–EditorYou are here: ZookoEditorFrom ambition to warning bell, Cryptsy’s voyage is the story of top with free fall.