U.S. District Judge Kenneth Marra found ‘The Ren Project’ in civil contempt after it failed to reply to a ‘show good cause’ court order in a class action suit brought by customers of Cryptsy.
Paul Vernom faces a 17-count indictment in connection with his alleged crimes, with 16 of the charges carrying a maximum sentence of 20 years behind bars.
The company agrees to set aside almost $1 million to cover damages.
The lawsuit claimed Cryptsy CEO Paul Vernon was able to convert the stolen cryptocurrency through his Coinbase accounts between 2014 and 2016.
