With every day revealing more questions than answers in the case of QuadrigaCX, we take a step back to look at the man who started, and ended, it all.
According to some lawyers, Canada could see a repeat of the QuadrigaCX scandal if it doesn’t take action soon.
QuadrigaCX bizzare case lends itself to a lot of speculation, and Kraken CEO Jesse Powell isn’t afraid to partake.
So far, the focus of the QuadrigaCX investigation has been squarely on the death of Gerald Cotten and the lost funds. Now some people are looking into another important member of the company, Michael Patryn.
Even after Ernst & Young have finished their audit, there's still no way of knowing where there crypto exchange's funds have gone.
Gerald Cotten revealed in 2014 that QuadrigaCX was keeping customer funds in an offline paper wallet, stored away in a bank safety deposit box.
As if it couldn’t get any worse for QuadrigaCX, it now appears the exchange might have thrown away an additional $500,000 in cryptocurrency.
The Canadian crypto exchange had its day in court, and Nova Scotia Supreme Court Justice Michael J. Wood ruled in their favor, allowing creditor protection and a 30-day stay of proceedings.
In a statement posted to the homepage of their website, QuadrigaCX have announced they are looking for creditor protection from the Nova Scotia Supreme Court.