Business

Ed Drake

FBI joins probe into defunct crypto exchange QuadrigaCX

The FBI is searching for victims of the now-defunct QuadrigaCX cryptocurrency exchange.

In an escalation of enforcement action around the exchange, the FBI joins with other organisations investigating the exchange which closed following the alleged death of its founder, at the expense of investors who have been unable to access their funds.

With it, the FBI joins other agencies including the IRS Criminal Investigations division, the Department of Justice’s Computer Crime and Intellectual Property Section, and the U.S. Attorney General’s office for the District of Columbia.

QuadrigaCX founder and CEO Gerard Cotten was reported to have died during a visit to India, rendering a substantial portion of funds unrecoverable, without access to private keys. According to his widow, Jennifer Robertson, only Cotten knew the keys and how to access the funds, which have remained unrecoverable.

This has resulted in a several months-long civil rehabilitation process in an attempt to ensure as many investors as possible are paid out from the remaining assets of the now bankrupt exchange. The firm filed for bankruptcy just one month after Cotten’s death was confirmed.

The circumstances around the case have been seen by some as suspicious, with rumors online suggesting events may not have unfolded in line with the official story. Understandably, investors remain aggrieved, having lost significant investments with the collapse of the exchange.

The FBI has published a new questionnaire for those affected by the collapse, asking for information that will help them with personal identification, on the hunt for the truth about QuadrigaCX.

According to an FBI statement, the information will be used to help with its ongoing enquiries into what really happened around the collapsed exchange.

“If you have questions or concerns about your QuadrigaCX account, or if you believe you are a victim, please complete the below questionnaire,” the agency stated. “Your responses are voluntary but would be useful in the federal investigation and to identify you as a potential victim. Based on the responses provided, you may be contacted by the FBI and asked to provide additional information.”

Investigations into the collapse of QuadrigaCX are ongoing.

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