QuadrigaCX Reportedly Stored ETH on Kraken, Bitfinex and Poloniex, Research Finds
QuadrigaCX probably stored a significant quantity of Ethereum in other cryptocurrency exchanges, the evidence shows.
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Cryptocurrency exchange QuadrigaCX probably stored a significant quantity of Ethereum (ETH) in other crypto exchanges, according to new evidence. This claim was made in a report published by crypto research and consulting platform ZeroNonCense on Feb. 28, which obtained corroborating information from Kraken CEO Jesse Powell and MyCrypto CEO Taylor Monahan.
More precisely, the author of the report reportedly “believes that there is a very strong possibility” that nearly 650,000 ETH belonging to QuadrigaCX were stored on the Kraken, Bitfinex and Poloniex crypto exchanges during QuadrigaCX’s operations. The report claims that the fact that QuadrigaCX had accounts on all those exchanges is established and proven, and that at the time they were sent, the funds were worth over $100 million.
As Cointelegraph reported in February, following the sudden death of its founder Gerry Cotten, cryptocurrency exchange QuadrigaCX was reportedly missing CA$190 million dollars ($145 million) in digital assets.
ZeroNonCense explains that — given the affidavit of the founder’s widow Jennifer Robertson that neither she nor other individuals involved with the exchange knew where Cotten stored the crypto assets — it is possible that they were not aware of these storage practices.
According to the report, Robertson also claimed in the affidavit that Cotten may have stored some of QuadigaCX’s funds on other exchanges. A report by Big Four audit firm Ernst & Young, which claimed that the exchange’s cold wallets have been empty and unused since April 2018, could be explained by the possibility that the assets are instead stored on those exchanges, ZeroNonCense hints.
The report concludes that if QuadrigaCX’s funds are still on the aforementioned exchanges, their retrieval should be trivial and could allow the platform to regain solvency and resume its operations.
As Cointelegraph reported at the beginning of February, ZeroNonCense previously released a report claiming that QuadrigaCX never had the $190 million in Bitcoin (BTC) it supposedly lost access to when its CEO unexpectedly died.
Also in February, news broke that Canadian banks have shown hesitation concerning the management of insolvent cryptocurrency exchange QuadrigaCX’s assets because of money laundering concerns.
Storing an exchanges cold coins on another exchange is shady AF. Expect Quadriga to have a bank run if the coins get returned.. and also expect some instability on those other exchanges as large amounts of currency are pulled back to Quadriga.
Is Cointelegraph a professional mass media? How can you refer to someone's opinion without conducting an own investigation? Unfair
This creates FUD and distrust of major exchanges like Kraken or Bitfinex.
Listening to ZeroNonCense editor who is scammer, woman-hater and pedophile is a silly thing
what would be fair for those who released this shitty app? only getting out of the market – that’s what Poloniex deserve
will see what the investigation will bring us but I tend to think that Poloniex must take responsibility for Quadriga theft
I wait until people from Poloniex will be punished for their involvement in Quadriga case
I think this is quite obvious that all of the companies that are involved in this will have profit from it!
I wont forget what happened to quadriga and thus im not gonna trust poloniex ever again, they just use our trust to backstab us
I wish ppl saw the real face of Poloniex that robbed Quadriga and scammed its clients... one can hope
I wont trust Poloniex ever again, i did so once and got burned and now theyre robbing Quadriga, yeah thats not nice to put it mildly
this Poloniex app only proves that theyre good only at stealing and lying and thats it
what can safe Poloniex u ask me? personally I think nothing cuz all we see now is a long regress
that was easy to guess that Poloniex stole Quadriga funds – what else can this company do
I have no doubt that Poloniex is responsible for Quadriga, that’s a fact
Time for Poloniex CEO to go to jail – Quadriga case will bury you
Actual Bitfinex users rarely moan or bitch about the platform since they know how to handle those issues that pop up sometimes, it's that easy
there is 1 thing Poloniex can do well – rob its customers, but everything else is just impossible for this platform, theyre that bad yes
for now Bitfinex works for me, so i couldnt care less about what some no-lifers say
The slander campaign against certain platforms is starting to feel rather tiresome – for instance, why do people pour dirt on Bitfinex? I see no point or reason for that
One thing is certain about Tether situation - Bitfinex is coming and it will show all these histrionic users the truth they deny so desperately
we gotta remove fake news from crypto, i swear i cant tell apart truth from defaming lies when i wanna find news about Bitfinex, its insane
oh boy everyone knows everything about crypto now, will those neckbeard critics leave platforms alone for a change? cant trade in peace on Bitfinex cuz of all these fuss
haters gonna hate – this is simple but not everyone understands it, just stay away from negative, don’t even try to defend bitfinex while speaking with people one the net, they will never accept your position until they try the coin themselves
Haven’t noticed any scam from Bitfinex since I’m with the exchange – why do you lie that much on the internet people?
I see that people hate Bitfinex and don’t really understand what they do – if you want Bitfinex to leave us so you want a death for crypto
cant wait until Poloniex becomes better really – just want to get rid of that trash
Bitfinex is well-prepared to handle crises reality flings at them, so my interests lie with this platform for the moment
I can’t stop praising Bitfinex at least for their wish to be the first and making crypto much more reliable!
At the moment we can let the numbers speak for themselves, Bitfinex is doing constently well this year
Bitfinex has earned its positive reputation - at least, in my eyes - so I am expecting its next moves with great interest. They does involved in scum for sure
i remember how I started with bitfinex, ever since then this platform provided me with good news and help so ill continue supporting it ofc
go and blame scammy platforms dudes – leave Bitfinex alone!
gimme more proof if you want me to believe that bitfinex is scammy – I haven’t noticed any complains by the real users
It was established that Bitfinex volumes are all actual and I can believe it as the platform is truly popular.
Poloniex is just another scam that brought pump and dump and Ponzi schemes to crypto.
Poloniex you have to stop all your maintenances, they’re all useless
Poloniex’s complains are too many to believe that’s just a coincidence or user’s fault. They are lying to people.
Is it the only source available? being a person with critical thinking i tend to check several sources on media and official statements and facts but still nothing, only this zerononsense whom i don't really believe
Bitfinex offers good opportunities for crypto trading. Their service is not bad while the fees are pretty low.
it hasnt been a secret, the fraudulent nature of Poloniex was known for quite some time so lets admit it openly ok? its basically dead so theres no harm done to anyone valuable
So many platforms were slandered, it was not just Bitfinex but others too, and I say that the time has come to strike back at those who won't stop creating lies and fake news, do you agree?
sure Poloniex knows how to steal stuff - theyre 100% incompetent in the matters of crypto however
well afaik Poloniex still fixed 0 when it comes to login troubles - this platform is such a filthy joke, my lord