Change in The Plot? QuadrigaCX $190 M Loss Could Turn Into Theft Following Its Litecoin Sudden Move

February 4, 2019

QuadrigaCX used to Canada’s biggest Bitcoin exchanges. It had been recently reported that its founder, Gerald Cotten, had suddenly died from the Crohn disease at the young age of 30. He found his death in Jaipur, India, in early December 2018.

It had also been reported that Cotton was the only one having access to the cold storage of the exchange’s main wallet. The latest court filing claims that QuadrigaCX owes its customers roughly 250 million CAD, equivalent to $190 million.

As of the end of January 2019, over 115,000 users had a positive balance on their QuadrigaCX account; funds were divided as 180 million CAD in crypto and the rest 70 million CAD in FIAT. To this point, the division between the exchange’s hot and cold wallet is unclear.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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