Altcoin exchange Cryptsy suspends trading for a bit

In the last couple of months, famous digital currency exchange Cryptsy has been target to a wide variety of rumours pointing towards scamming, insolvency, user withdrawal problems and many other issues. Recently, Cryptsy has decided to suspend its trade engine.

The information was released by Cryptsy, which posted a message on its main page reading: “Trade engine and withdrawals paused while we investigate cause of lag. Your patience is appreciated. Thank you”.

The exchange, which is most famous for their altcoin trading operations, has been the subject of various controversies for quite a while. Regardless of this, their trading volume isn’t low at all, considering the fact that they have reported over 235 in BTC during the last 24 hours. However, reports of issues involving withdrawals, alongside with evidence pointing that the company is heading towards insolvency has discouraged many customers from using the platform.

In the past, when such issues were encountered, Cryptsy blamed them on denial-of-service (DDoS) attacks and various technical issues. Due to the wide variety of problems being encountered by the company, it has even been compared to Mt Gox, the Japanese exchange that failed and ultimately caused a reign of terror over the bitcoin market.

At the moment of writing, Cryptsy is back online, and so far, the firm has not issued a comment on the latest issues.

While bitcoin users from all around the world and even prominent members of the community have recently had positive experiences, users are encouraged to take care when trading to avoid any issues.

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.


No Responses

  1. Pingback: Google June 25, 2021
  2. Pingback: Google June 28, 2021