Bookmarking Crypto Insights
Auto Added by WPeMatico
According to the National Bank of Rwanda, the country’s regulated financial services providers are now prohibited from facilitating crypto-related transactions. In her Jan. 31 letter justifying the decision, the acting governor Soraya Hakuziyaremye cites the unregulated status of most crypto assets and how this leaves users without the “guarantees and safeguards associated with regulated financial … Read more
On Dec. 19, the Twitter account Zachxbt revealed he discovered five cold wallets from the now-defunct Quadrigacx crypto exchange move 104 bitcoin. The following day, ‘big four’ accountancy firm EY, Quadrigacx’s bankruptcy court trustee, explained it did not authorize the spending of the funds and that prior reports detailed that the cold wallets were inaccessible … Read more
The wallets were thought to be inaccessible following the death of the exchange’s founder in 2018, as he had sole responsibility for the wallet’s private keys. Go to Source Powered by WPeMatico
The Ontario Securities Commission (OSC) has completed its investigation of what happened to the defunct cryptocurrency exchange Quadrigacx which owes over 76,000 clients a combined $215 million in assets. Supposedly deceased, its founder Gerald Cotten was found to have committed a series of fraud, the regulator details. Quadrigacx Fraud: Exchange Owes 76,000+ Clients $215 Million … Read more
It has been a year since the founder of now-defunct crypto exchange Quadrigacx supposedly died in India. However, some 76,000 victims are still out of millions of dollars. A court-appointed lawyer representing them has now requested an exhumation and post-mortem autopsy in Canada of the dead body, highlighting the need to know if Gerald Cotten … Read more
Ask a dozen crypto traders for the reason behind the recent rally and you’ll get a dozen different theories. Bakkt futures, Microsoft building on Bitcoin and Whole Foods accepting crypto have all been cited as fueling the bull market that’s broken out. While these factors have certainly helped, there’s a less documented reason why the … Read more
Jennifer Robertson, the widow of late Quadrigacx chief executive officer Gerry Cotten, has revealed that customer withdrawals were processed using personal funds in a statement published yesterday. The document also indicates that law firm Stewart McKelvey has withdrawn from representing Quadrigacx during the Companies’ Creditors Arrangement Act process due to “potential” conflicts of interest. Also … Read more
In a 2014 appearance on the True Bromance Podcast, Gerry Cotten, the late CEO of embattled Canadian cryptocurrency exchange Quadrigacx, made comments indicating that the exchange was storing customer funds using paper wallets. Cotten also compared losing the private keys for a bitcoin wallet to “burning cash.” Also Read: Market Cap: A Flawed Ranking System for … Read more
Two law firms have been appointed to represent the clients of insolvent Canadian crypto exchange Quadrigacx in court. The number of affected users has been estimated at approximately 115,000 and lawyers will have to contact as many as they can. The digital asset trading platform owes them approximately $190 million. Also read: Hacked NZ Exchange … Read more
