Cryptsy reveals reward contract with Cryptcracker to retrieve stolen bitcoin

Crime | March 15, 2016 By:

The Cryptsy website has revealed a PDF contract between CEO Paul Vernon and a hacker named “Cryptcracker” to retrieve 13,000 bitcoin.

“Cryptcracker will recover for reward the stolen 13,000 Bitcoin (approximate) from the Cryptsy exchange for a base reward of 1750 BTC about %13.46154 of the 13,000 Bitcoin. To account for the approximation, a %13.46154 bounty percentage fee will be awarded to Cryptcracker for all recovered Bitcoin instead of 1750 Bitcoin if the recovered amount deviates from 13,000 Bitcoin,” the agreement states.

Vernon claimed in January that trojan malware was inserted into Cryptsy’s code by the developer of Lucky7Coin giving access to the company’s wallets, but more remarkably claimed this had occurred 18 months prior in 2014. Instead of letting customers know what had happened, they had decided to continue trading in an effort to work their way back to solvency.

Cryptsy is a startup managed by Project Investors, Inc. focusing on the exchange of BitCoin and it’s derivatives.