Bitcoin Banker Cryptsy Gets Cracked: $5.7 Million Grabbed and Gone

Bitcoin just can’t catch a break. While 2015 was a good year for the cryptocurrency’s overall value, numerous competing currencies and bitcoin revisions have emerged, all claiming they’re the answer to current crypto problems. As noted by SecurityWeek, meanwhile, another high-profile bitcoin trading company — Cryptsy — may be shutting its doors after a reported $5.7 million loss. Does this signal the beginning of the end for bitcoin boosters?

From Bad to Worse

According to Cryptsy, the funds — 13,000 bitcoins and 300,000 litecoins — were stolen in July 2014. The company’s CEO, Paul Vernon (aka Big Vern), said the culprit was someone claiming to be the developer of Lucky7Coin, who pushed an update to Cryptsy in May 2014.

Read more ... source: TheBitcoinNews