Michael Patryn, co-founder of the now-defunct Quadrigacx cryptocurrency exchange, has been compelled by Canadian officers to explain the origin of his wealth. Patryn must explain how he acquired a stash of 45 gold bars, more than 0,000 in cash, and a jewelry set with a diamond-studded Rolex watch. Quadrigacx Cofounder Must Explain 45 Gold Bar […]
Bitcoin News
QuadrigaCX Victims Request Proof of Gerald Cottens Death by Exhuming Body
n Canadian law firm wants to exhume the body of Gerald Cotten, the deceased owner of the now-defunct crypto exchange QuadrigaCXn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Widow of QuadrigaCX Founder to Forfeit $9 Million to Exchange Victims
The widow of QuadrigaCXs late founder has agreed to turn over about million of assets to the exchanges victims.nThe post Widow of QuadrigaCX Founder to Forfeit Million to Exchange Victims appeared first on Bitcoin Magazine.n
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
QuadrigaCX Founders Widow Will Cough Up $9 Million to Repay Users
Bankruptcy trustee EY and the widow of QuadrigaCX founder Gerald Cotten have come to a settlement with affected users of the defunct exchange getting a million payout.n
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Widow of QuadrigaCX Founder Hands Over $9 Million in Assets to Users
n The wife of the late founder of Canadian cryptocurrency exchange QuadrigaCX is handing over roughly million in assets.n
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Widow of QuadrigaCX Founder Hands Over $9 Million in Assets to Users
n The widow of QuadrigaCX founder Gerald Cotten, Jennifer Robertson, is handing over million in assets to the users of the now-defunct crypto exchange.n
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
QuadrigaCX Trustee Wants Crypto Exchange Case to be Heard in Toronto
The ongoing bankruptcy proceedings against the now defunct crypto exchange QuadrigaCX may be moved to the city of Toronto to make investigations easier. The move would come at the request of the trustee overseeing the bankruptcy, Ernst and Young.
QuadrigaCX went offline earlier this year following the death of its founder and CEO, Gerard Cotton. Cotton had supposedly died with the only access to the exchange’s cold storage solution, leaving millions of dollars inaccessible and many users out of pocket.
Ernst and Young to Work with Four Authorities in Crypto Exchange Bankruptcy
According to a report in Canadian news publication The Globe and Mail, Ernst and Young, the trustee in the bankruptcy proceedings against the now defunct crypto exchange, QuadrigaCX, has requested that the case be moved to the city of Toronto.
The company argues that the move will give the relevant authorities greater ability to collaborate on the case. The proceedings have thus far taken place in Nova Scotia, close to where Cotten operated QuadrigaCX.
The bankruptcy hearings will involve Ernst and Young working closely with the Royal Canadian Mounted Police’s financial crime division from Milton, Ontario; the United States FBI; the Ontario Securities Commission; and an Australian investigative group.
Ernst and Young have argued that most of the individuals that would be required to make appearances in court are already based in Toronto and the move would therefore reduce the burden of travel on those participating in the hearings. The firm wrote that changing the location of the hearings would reduce “the need for a significant number of professionals to incur costs to travel from Toronto to Halifax.”
Gerard Cotten, QuadrigaCX’s only actual employee, suddenly died in December last year on honeymoon in India. He reportedly had the only access to the exchange’s crypto asset cold storage methods. His wife, Jennifer Robertson, has confirmed that the now deceased CEO was the only one with access to the exchange’s cold storage. When the company promptly folded, there was no money available to pay out those who had left cryptocurrency with the exchange.
Various details surrounding Cotten’s death and efforts to trace the coins supposedly trapped in cold storage have led to all manner of conspiracy theories about what actually went on. Some have speculated that the death may have been faked so that the supposedly dead CEO could make off with the more than 0 million that are thought to be lost.
Related Reading: 33 Cent Ethereum and 0 EOS, What’s Going On At One Crypto Exchange?
Featured Image from Shutterstock.
The post QuadrigaCX Trustee Wants Crypto Exchange Case to be Heard in Toronto appeared first on NewsBTC.
QuadrigaCX Users Lose $190M as Speculations Over Cottens Death Swirl
n Gerald Cotten, the founder of the largest Canadian crypto exchange, QuadrigaCX, potentially stole almost 0 million and reportedly diedn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
QuadrigaCX Co-Founder Used User Deposits for His Own Trading, Created Fake Accounts
n The deceased owner of the now-defunct QuadrigaCX was transferring user funds off the exchange and using them as a security for his own margin trading on other platformsn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
FBI Seeking Information from QuadrigaCX Users
The post FBI Seeking Information from QuadrigaCX Users appeared first on DCEBrief.