Cookies on BBB.org

We use cookies to give users the best content and online experience. By clicking “Accept All Cookies”, you agree to allow us to use all cookies. Visit our Privacy Policy to learn more.

Cookie Preferences

Many websites use cookies or similar tools to store information on your browser or device. We use cookies on BBB websites to remember your preferences, improve website performance and enhance user experience, and to recommend content we believe will be most relevant to you. Most cookies collect anonymous information such as how users arrive at and use the website. Some cookies are necessary to allow the website to function properly, but you may choose to not allow other types of cookies below.

Necessary Cookies

What are necessary cookies?
These cookies are necessary for the site to function and cannot be switched off in our systems. They are usually only set in response to actions made by you that amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not work. These cookies do not store any personally identifiable information.

Necessary cookies must always be enabled.

Functional Cookies

What are functional cookies?
These cookies enable the site to provide enhanced functionality and personalization. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies, some or all of these services may not function properly.

Performance Cookies

What are performance cookies?
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.

Marketing Cookies

What are marketing cookies?
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant content on other sites. They do not store personal information directly, but are based on uniquely identifying your browser or device. If you do not allow these cookies, you will experience less targeted advertising.

Find a Location

Project Investors, Inc. has 1 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

    Country
    Please enter a valid location.

    Business ProfileforProject Investors, Inc.

    Business Associations

    Additional business information

    Pending Government Action:
    Government Action: BBB reports on known government actions involving business’ marketplace conduct:
    United States of America vs Paul E Vernon 19-20509

    As of January 26, 2022:

    A 17-count indictment was unsealed in federal court in Miami, Florida charging Paul E. Vernon, 48, the founder, operator, and Chief Executive Officer (CEO) of Project Investors Inc., doing business as Cryptsy, with criminal violations for his involvement in a sophisticated theft scheme involving his cryptocurrency exchange.  The charges include tax evasion, wire fraud, money laundering, computer fraud, tampering with records, documents, and other objects, and destruction of records in a federal investigation.

    According to the Indictment, Paul E. Vernon solicited and caused cryptocurrency investors to trust the safety of Cryptsy, an online cryptocurrency exchange company, for storing and trading their virtual currency. Vernon exercised control over cryptocurrencies deposited on the Cryptsy website.  Between May 2013 through May 2015, Vernon used his control over Cryptsy’s accounts, known as wallets, to steal over one million dollars from Cryptsy’s cryptocurrency wallets.  Once Vernon stole his customers' funds from Cryptsy’s wallets, he deposited the funds into a personal cryptocurrency wallet and then transferred the same funds into his personal bank account.  At no time during this time period did Vernon disclose this theft of his customers’ funds from his customers’ Cryptsy wallets.

    On about July 29, 2014, Vernon informed Cryptsy employees that Cryptsy had been hacked by an unidentified party, and that the hacker had stolen more than five million dollars’ worth of bitcoins and other cryptocurrency from Cryptsy. For six months following this disclosure to his employees, Vernon continued to operate Cryptsy, including soliciting new customers, without disclosing to his customers that the website's security had been compromised.  In or around November of 2015, Vernon abruptly moved to China and, shortly thereafter, publicly reported to Cryptsy customers the 2014 hack of the Cryptsy wallets and loss of bitcoins and other cryptocurrency.  In April 2016, after being notified that Cryptsy was in receivership, Vernon hacked into Cryptsy servers from a remote location, stole Cryptsy’s database containing customers’ funds, and destroyed the customer database to conceal his illicit activity.

    The Indictment further alleges that Vernon attempted to evade his federal income tax obligations for 2014 and 2015.  In each of 2014 and 2015, Vernon caused to be filed false and fraudulent U.S. individual income tax returns in which he underreported the tax due and owing to the United States.  Based on his actual taxable income in 2014 and 2015, Vernon’s tax due and owing to the United States was substantially more in each of these years than the amounts reported to the United States.

    Charges contained in an indictment are merely allegations, and the defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    LINK: https://www.justice.gov/usao-sdfl/pr/ceo-major-online-cryptocurrency-exchange-company-indicted-defrauding-company-s

    At-a-glance

    Customer Reviews

    This business has 0 reviews

    Customer Complaints

    This business has 0 complaints

    Customer Reviews are not used in the calculation of BBB Rating

    Overview of BBB Rating

    Related Categories

    Overview

    Cryptsy is an Internet startup operated by Project Investors, Inc. focusing on the exchange of Crypto-Currency commonly known as "BitCoin" and it's derivatives. We currently service more than 150 different types of crypto-currency.

    Business Details

    Location of This Business
    PO Box 7646, Delray Beach, FL 33482-7646
    BBB File Opened:
    2/12/2014
    Years in Business:
    11
    Business Started:
    5/21/2013
    Type of Entity:
    Corporation
    Alternate Business Name
    • Cryptsy
    • Cryptsy.com
    Business Management
    • Mr. Paul E Vernon, CEO
    Contact Information

    Principal

    • Mr. Paul E Vernon, CEO

    Customer Contact

    • Mr. Paul E Vernon, CEO
    Additional Contact Information

    Email Addresses

    Customer Complaints

    0 Customer Complaints

    Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews

    File a Complaint

    Customer Reviews

    0 Customer Reviews

    What do you think? Be the first to review!

    How BBB Processes Complaints and Reviews

    Start a Review

    Local BBB

    BBB Serving Southeast Florida & the Caribbean

    BBB Reports On

    BBB reports on known marketplace practices.

    BBB Business Profiles may not be reproduced for sales or promotional purposes.

    BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

    When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

    BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.

    As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.