Silver Law Group Files Lawsuit Against Cryptsy And Trendon Shavers - From The CoinFront

Silver Law Group, a Florida-based law firm, is pursuing claims against two different cryptocurrency-related entities.

The suit alleges that these two entities used “false and misleading claims of easy profits, high returns, and little risk.”

Bitcoin Savings And Trust

The first is against well-known Ponzi scheme Bitcoin Savings and Trust. BS&T, operated by Trendon Shavers, was one of the earliest Ponzi schemes in Bitcoin history, for which Shavers was recently fined $40.7 million.

Shavers’ scheme promised astronomical returns, and delivered them at first. The way he described his investment scheme was a textbook Ponzi, and this would have set off alarms to any seasoned investor. Bitcoiners though, many of whom were naive and new to the world of currency and investments, fell right in.

Crypsy

The second entity is Cryptsy, one of the few remaining altcoin exchanges with anything even remotely resembling an untarnished reputation.

The suit alleges that Cryptsy users “have seen their accounts emptied and Bitcoin simply disappear.”

This makes Cryptsy the fourth major cryptocurrency entity to face scandal in recent weeks. Moolah’s collapse has been well-documented, and MintPal was pulled down in its wake in an event Dogecoin founder Jackson Palmer called “the new Mt. Gox“. Bitcoin Trader, a Bitcoin arbitrage and high-yield investment service, has also collapsed amid claims of a hack from their part, and scam allegations from the community.

The Suits

The firm has launched two separate lawsuits against these companies, and has encouraged the community to contact them if they have been affected by either Bitcoin Savings and Trust or Cryptsy.

“If you have invested in Bitcoin or any other cryptocurrency”, their site reads, “and believe you are the victim of a fraud or theft of your assets, you might have the grounds upon which to assert a claim to recover your losses.”

To contact Silver Law Group, email dsilver@silverlaw.com, or call toll-free 1-800-975-4345.

Silver Law Group Files Lawsuit Against Cryptsy And Trendon Shavers