Cryptsy is in Trouble Again

News and Analysis

One of the biggest altcoin exchanges Cryptsy went offline for almost 12 straight hours today. The outage followied multiple reports related to withdrawal problems. First delays in cryptocurrency withdrawal began last week, while on November 22 Cryptsy’s official Twitter announced there were problems with wallets, and that withdrawal / deposit of assets was suspended.

The exchange has already faced some technical and reputational issues earlier. However, reports on withdrawal problems became much more abundant last couple of weeks. Some of them involved delays in bitcoin withdrawal comprising up to 12 hours. There were some reports stating that no withdrawal was possible whatsoever. Some users complained they could not refill their accounts.

The company states that the problems are of external origins, and blame everything on DDoS attacks. However, as of November 22 all wallet operations were suspended, and today the company’s site went offline.

Back in October, one of Florida’s legal firms filed a lawsuit against Cryptsy stating the company is engaged in scam activities and neglects security measures. The company traverses all such accusations.

At the moment of writing, Cryptsy went back online again.

Stay tuned.

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