Reddit Users Claim That QuadrigaCX Bitcoin Withdrawals Came From Other Exchanges

Reddit users analyzed past Bitcoin (BTC) withdrawals from the QuadrigaCX cryptocurrency exchange. Reddit users analyzed past Bitcoin (BTC) withdrawals from the now-defunct QuadrigaCX cryptocurrency exchange in a post published on April 10, finding that some came from other exchanges.The Reddit users claim that of the withdrawal transactions that they analyzed, one came from a HitBTC hot wallet and the other one from a Bittrex hot wallet.The users write that before they realized that the addresses are owned by exchanges, they found that some of the addresses appear on multiple High Yield Investment Programs (HYIP), amatorial ransomware research and a post concerning lost funds by another Reddit user.Further examination suggests that this means that people sent funds from exchanges to HYIP Ponzi schemes, and that hackers attempted to cash in money earned with ransomware through those exchanges.Quadriga has previously filed for creditor protection following the death of its founder in December 2018, resulting in a loss of access to its cold wallets.However, a report by the Wall Street Journal in February claimed that the funds could actually be missing, rather than inaccessible.The Reddit users’ recent findings are seemingly in line with another report, released in March, that QuadrigaCX probably stored a significant quantity of Ethereum (ETH) in other crypto exchanges rather than cold wallets.…

Canadian Crypto Exchange QuadrigaCX Officially Declared Bankrupt

Canada's major cryptocurrency exchange QuadrigaCX has been officially declared bankrupt. Canada's major cryptocurrency exchange QuadrigaCX has been officially declared bankrupt, local media outlet CBC reported on April 8.Quadriga’s bankruptcy was reportedly approved today by Nova Scotia Supreme Court Justice Michael Wood, and follows the court monitor Ernst & Young’s (EY) recommendation that it should be declared bankrupt earlier this month.EY’s legal team then argued that the ongoing restructuring process for QuadrigaCX under the Companies’ Creditors Arrangement Act (CCAA) should shift to an alternative process under the Bankruptcy and Insolvency Act (BIA).The ruling now grants EY enhanced investigative powers as a trustee under the BIA, which means the company can require production of documents and testimony from witnesses.Today, Wood also granted a so-called asset preservation order from EY, which extends to all assets held by Jennifer Robertson — the wife of Quadriga’s late co-founder Gerald Cotten — and the Cotten estate.…

Widow of QuadrigaCX Founder Seeks Compensation for Creditor Protection Court Costs

Jennifer Robertson is seeking $225,000 in repayment for costs associated with QuadrigaCX’s creditor protection proceedings. The widow of the founder of now-defunct cryptocurrency exchange QuadrigaCX has asked the court for $225,000 in compensation for legal costs, Bloomberg reports on March 4.Jennifer Robertson, the wife of late QuadrigaCX founder Gerry Cotten, is seeking repayment for financing used to help the crypto exchange acquire court-approved protection from creditors.…