Mysterious Coin Movement From Cryptsy to Bittrex

A user by the name thunderbolt from bitcointalk was able to identify a 15000 UNO (roughly 90 BTC) transaction moving coins from a now defunct Cryptsy wallet to a Bittrex wallet. While James Sallah is the court appointed receiver for the Cryptsy funds, it looks like someone else also has access to the funds and attempted to cash out some altcoins.

Cryptsy was one of the top altcoin exchanges before a supposed hack brought it down. After a few months of insolvency the exchange finally decided to close its doors. Customers who were unlucky enough to have their Bitcoins stuck in the exchange only have one way left of recouping their losses – to get a portion of their outstanding balance from the class action lawsuit currently underway in Florida. However, with the recent news about the movement of 15,000 UNO it looks like Crytpsy’s wallet has fallen in the wrong hands.

This excerpt from the court order appointing James D Sallah as the receiver clearly states and Cryptsy’s assets must be frozen, any person who directly or indirectly moves those funds is in direct violation of this court order.

All assets of Cryptsy are frozen until further Order of this Court. Accordingly, all persons and entities with direct or indirect control over any assets of Cryptsy, other than the Receiver, are hereby restrained and enjoined from directly or indirectly transferring, setting off, receiving, changing, selling, pledging, assigning, liquidating,or otherwise disposing of, or withdrawing, such assets. Full Court Order

Luckily the coins were moved to a Bittrex address and not a random unknown address. As such, Bittrex is currently conducting an investigation into the transaction in question and the owner of the wallet.

Unfortunately for the UNO bagholders the price of the cryptocurrency tanked more than 15% as panic ensued when the news broke. However, for the opportunists it might be a good time to get your hands on some cheap UNO if you believe that Bittrex will indeed stop the inevitable dump. So far the UNO/BTC volume on Bittrex does not show that the Cryptsy coins have been dumped.

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