The Cryptsy cryptocurrency exchange that went out of business early in 2016 when its funds seemed to vaporize, withdrawals were terminated and then the entire website disappeared. There were rumors of hackers taking the funds and then it appears people operating the exchange were involved in stealing millions. To be honest I haven't been following the details but suffice to say eventually attornies showed up and a class action law suit was begun. All former Cryptsy account holders were invited to join (or exclude themselves).
Well the big news is that a settlement has been reached. But the bad news is that after selling property (including a $35,000 diamond ring) they managed to scrape up less than $2M, most of which was a building that is being sold. 1/3 of the proceeds will go to the attornies, $500 each goes to the class representatives (a select few initial claimants) and a few other fees are paid and then the many class members who signed up will divide up the rest. I'm not expecting much more than $1M to be distributed and I'm sure there are thousands of claimants. I've no idea how they will divy up that amount - I'm out about 110 Litecoin myself but I'm sure many others lost much, much more so if I get more than a few dollars, $100 tops, I'll be quite surprised.
You can read the gory details in a scan of the settlement document here
There's an even more recent document mentioning that the receiver is trying to cease assets in storage units owned by one of the Cryptsy operators Paul Vernon who has apparently fled to China. Read it here
