Cryptsy Halts Trading Operations and Withdrawals

News and Analysis

Digital currency exchange Cryptsy, which has been known for continuing problems with withdrawal of funds, has stated it suspended the exchange’s trade engine on January 5, 2016. Lots of the company’s customers have complained the exchange fails to provide proper withdrawal of their assets, if it provides any.

Technical issues seem to be inherent in the exchange’s operations. The exchange states it suffers from DDoS attacks or server failures. At the time of writing, the exchange apparently works normally; however, the withdrawal issues still persist.

Explaining the suspension, Cryptsy website read:

The exchange’s official twitter account fails to mention anything in regard of the suspension. Even though the site itself looks operational at the time of writing, most customers have lost the last specks of trust.

Reddit users, commenting on the situation, expressed no surprise from yet another failure of the exchange. Moreover, they compared Cryptsy to notorious MtGox, sarcastically dubbing it “MtGoxtsy”.

“This is just like gox all over again. And just like gox there will be idiots here talking about how there was never any reason to believe there was a problem and that this is a huge surprise,” one of them wrote.

There’re also some tweets mocking the situation:

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