How exciting the above paragraphs are is uncontested. In 2013 Cryptsy was an insurgent. Picture a lion’s roar in a place where no animal has bared its throat for generations; imagine the new kid in town throwing out a party without any way — ever so free form Today, letting Crypty pass beyond closing price yesterday could be something that seasoned crypto people cannot think of. Get more info

However, a while ago the world was a Cryptsy place and at that time, Cryptsy was all world. Rarely if ever after when it was overcome by new exchange after another did such frenetic excitement begin to return. At that time, Cryptsy was not just an exchange. It was the Hometown Buffet of altcoins, with myriad of lesser-known tokens for denizens to feast on and feast their eyes. BTC, LTC, doge–ohhhh wait; Cryptsy’s song had barley begun. Inside the exchange, traders were caught up in a frenzy Sprintinginton, wet with anticipation of the latest shiny coin. )

However, the bubble burst: News below the surface began to simmer into rumors. Withdrawals became a serious problem and began to mar Crypty’s good name like those ghastly scribbles of graffiti on the walls.

People started to get suspicious, and it was not what Cryptsy wanted.

Then, on a chilly late 2015 day, came a bombshell. Cryptsy admitted that it had been cleaned out of millions in a hacking heist. The news was a sudden shock, brazen and relentless. Enraged users who were locked out of their money took their grievances onto social media. They bore witness to this danger, expressing Cassandra-like warnings. At the same time though, Customer service was more mythical than that: at best a credulous invention to make pretty screens seem real (3D simulations. )

Legal storms came next as Cryptsy’s founder Paul Vernon found himself at the sharp end of accusations that he had played dirty and used mismanagement to syphon off money. The case gained momentum, until Paul vanished as if beamed away like Harry Houdini–perhaps to China. Nonetheless, The details of where he went remain as uncertain as smoke on a winter morning.

Cryptsy’s fate warns us that? Age-old truths: trust is something very precious and fragile. As younger exchanges flourish across the landscape of cryptocurrencies, Cryptsy’s cautionary tale is an omen: caution At other times a ball of flames, now Cryptsy turns reflective, where ambition meets growth potential and shivering wrinkles.a