The bad news just keeps rolling in for Paul “Big Vern” Vernon. Several years ago, Big Vern was sitting at the precipice of what he must have seen as a huge opportunity. Bitcoin and cryptocurrencies were taking off, both in value and popularity. The need for exchanges followed suit, and the biggest positive of all? It was all unregulated. No government. No auditors. A crooked business didn’t even need to cook the books, because they didn’t have books. A hungry opportunist needed only an exchange that let semi-anonymous users move and trade cryptocurrencies, and to sit back and enjoy the spoils. Now he’s providing comments to local newspapers and preparing for what will surely be a drawn out legal battle.
For many users of cryptocurrencies Crypsty was a go-to, offering trading on many less popular coins and trading pairs. Unfortunately, it appears that Big Vern was using Cryptsy as his personal piggy bank for almost the