QuadrigaCX – multiple cold wallets without content

The majority of the QuadrigaCX wallets no longer have any credits – that’s what bankruptcy analysis has revealed to the chagrin of customers.

Canadian crypto exchange in explanation

If it were not so sad, you could almost laugh at the ever-wrenching posse at the quadrigaCX crypto exchange . On the other hand, affected customers will certainly find the latest news about the platform for trading Bitcoin and other digital currencies anything but funny. The relevant court had recently commissioned the global law firm Ernst & Young to examine the economic background of the insolvent Canadian company. The result does not give the customers much hope that they will get back money from hackers attacked by hackers.

Monies are probably lost forever

The experts have reported in a new report that the majority of used by QuadrigaCX Cold Wallets has no more content. An important finding here: The people in charge at the stock exchange seem to have at least partially tied up a bear to their clientele. However, the analysts of the law firm still have access to the wallets receive. This would not have been possible per se, as they have reported in the house QuadrigaCX last, the deceased CEO Gerald Cotten was the only one in possession of the required private keys. This statement now appears even worse after the presentation of the Ernst & Young report. The court has therefore not without reason the law firm as insolvency administrator. Where: The hoped-for investor protection will probably not work if the data is correct.

Only a few coins get on a wallet

Five of the cold wallets have been completely emptied, according to the news, as early as Spring 2018. Thus, it is now clear that a volume of over $ 100 million has been “lost” in the form of customer deposits. Only Wallet No. 6 should still contain a few Bitcoin , which is more than a small consolation for the customers. The fact that the funds of the users were moved according to the investigations between the different Wallets and at the same time payments on accounts with other stock exchanges are provable, suggests a targeted fraud and misappropriation of the customer’s money. The specialists at the insolvency administrator now want to find out more about what exactly happened. For the investors, the cause of the impending complete loss is unquestionably of no importance.

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