Settlement Reached in Part of Cryptsy Case

November 7, 2016 | Back to News

David Silver Quote :

A lot of people didn’t think we could recover a dollar on this.

There’s good news and bad for traders on a Delray Beach-based digital currency exchange, who feared the worst after the CEO Paul Vernon allegedly absconded to China with clients’ money.

The good news: A settlement worth more than $1 million ends part of a class action lawsuit against Project Investors Inc., doing business as Cryptsy.

The bad: It’s a fraction of the $8 million with which Vernon allegedly fled the country.
“A lot of people didn’t think we could recover a dollar on this,” said plaintiffs attorney David Silver of the Silver Law Group in Coral Springs. “Paul Vernon, to the best of my knowledge, has not returned to the United States since he went to China in early 2016.”

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If you believe you have been the victim of a crime, please report the theft to your local authorities and the FBI Cybercrime Division at www.ic3.gov.

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