Categories: CryptoNews

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

Related Post

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.

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.

Mark Arguinbaev

I'm a 29 year old cryptocurrency entrepreneur. I was introduced to Bitcoin in 2013 and have been involved with it ever since. Fun Fact: I mined cryptocurrency using my college dorm room's free electricity.

Share
Published by
Mark Arguinbaev

Recent Posts

Cheems Surge On BSC Network: A Rising Star With Growing Market Value

The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by…

2 hours ago

Lester Token Crashes 40% Following Official Announcement

The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market…

2 hours ago

From $30K To Millions: The Wild Journey Of $Quant And Xiaohaige’s Memecoin Stunts

In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin…

2 hours ago

Whale “convexcuck.eth” Makes Bold $CVX Move, Nets Significant Profit Amid Price Surge

The crypto whale known as "convexcuck.eth" has made waves in the DeFi world, spending $2…

3 hours ago

$ELIZA Token Launch Marred By Insider Trading Allegations

The launch of $ELIZA, a token introduced by Andreessen Horowitz (a16z) partner @shawmakesmagic, has sparked…

3 hours ago

Cardano’s Rally Highlights Diverging Moves Among Investors

Cardano ($ADA) has been making waves in the crypto market, breaking away from the altcoin…

3 hours ago