5 Wallets Tied To QuadrigaCX Moved Around 104 BTC Recently
- QuadrigaCX, the defunct Canadian crypto exchange, moved around 104 BTC on December 17.
- QuadrigaCX declared bankruptcy in April 2019 following the December 2018 death of its founder and CEO, Gerald Cotten, who was solely responsible for the private keys of the exchange’s wallets.
- According to a study released in February 2019 by the accounting firm Ernst & Young, on February 6, 2019, QuadrigaCX moved around 103 bitcoins to cold wallets that only Gerald Cotten could access.
On December 17, five wallets linked to the now-defunct Canadian cryptocurrency exchange QuadrigaCX exchanged over 104 BTC, according to crypto researcher ZachXBT on Twitter.
Previously, Canada’s largest cryptocurrency exchange was QuadrigaCX. Following the passing of Gerald Cotten, its founder and CEO, in December 2018, who was exclusively in charge of the exchange’s wallets’ private keys, it filed for bankruptcy in April 2019.
According to blockchain data, the wallets have not sent any Bitcoins since at least April 2018.
QuadrigaCX owes up to $200 million in cryptocurrency to about 155,000 consumers at the time of its insolvency.
Internet sleuths later discovered a collection of addresses that had received a number of minor payments totaling 104.335 Bitcoin on that day, which is approximately the same sum described in the report. The addresses of these wallets were made public by Reddit user Decoze:
1HyYMMCdCcHnfjwMW2jE4cv9qVkVDFUzVa — received 36.37786282 BTC,
1JPtxSGoekZfLQeYAWkbhBhkr2VEDADHZB — received 33.19556316 BTC,
1MhgmGaHwLAvvKVyFvy6zy9pRQFXaxwE9M — received 19.54328527 BTC,
1ECUQLuioJbFZAQchcZq9pggd4EwcpuANe — received 10.34268585 BTC,
1J9Fqc3TicNoy1Y7tgmhQznWrP5AVLXj9R — received 4.87560516 BTC.
According to a study released in February 2019 by the accounting firm Ernst & Young, on February 6, 2019, QuadrigaCX moved around 103 Bitcoins to cold wallets that only Gerald Cotten could access.
Conspiracy theories claimed that the founder of QuadrigaCX faked his own death as part of an illegal exit scheme after his strange death and the subsequent collapse of the exchange. The tale served as the topic of a Netflix documentary in 2022.
Years before he passed away in 2014, Cotten stated on a podcast that printing private keys and keeping them offline in a safety deposit box was the best method to maintain them. This revealed that the exchange had kept its private keys offline in the business’s safety deposit box at a bank.
The company declared at the time that it would work with management to get the Bitcoin out of the cold wallets.
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