News
According to the order, the assets allegedly are the proceeds of criminal activities linked to Michael Patryn, a co-founder of Quadriga Coin Exchange, and Gerald Cotten.
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Latest QuadrigaCX News
QuadrigaCX was a Canadian cryptocurrency exchange founded in 2013 by Gerald Cotten. It gained popularity for its user-friendly interface and range of supported cryptocurrencies.
However, in 2019, the exchange faced a crisis following the sudden death of Cotten, the sole person with access to private keys securing customer funds. This made approximately 190 million Canadian dollars in cryptocurrencies inaccessible, sparking legal proceedings and investigations.
The QuadrigaCX case highlighted the importance of secure custody solutions and regulatory oversight in the cryptocurrency industry.
- News
Despite their best efforts, bankruptcy trustees have only managed to recover a fraction of the $160 million owed to creditors.
7384 - Opinion
New data indicates Binance’s stablecoin, BUSD, has been undercollateralized at times by more than $1 billion. Yet, few have questioned CEO Changpeng Zhao.
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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.
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Viewers of the documentary, especially those aware of the whole saga, resonated with the conspiracy theory about the founder faking his death.
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The DeFi debacle has caused ripples across the ecosystem as the project head looks to wind things up.
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"Some people said Wonderland should just be wound down and funds be given back to token holders. I believe this is the easy way out," says Sestagalli.
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Recently surfaced allegations suggest the founder of DeFi protocol Wonderland was the co-founder of the now-defunct exchange QuadrigaCX.
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Many claimed that Gerald Cotten had faked his death and absconded with millions in crypto, even briefly demanding that his body be exhumed.
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The trustee for the collapsed Canadian crypto exchange QuadrigaCX has received $171 million in claims from the exchange’s customers.
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Lawyers representing creditors of the collapsed exchange QuadrigaCX have hired blockchain forensics specialists to help with the ongoing investigation.
4266 - Hodler’s Digest
The Bitcoin uptrend could be in peril, QuadrigaCX described as a “Ponzi scheme,” and Coinbase is punished for outages.
23271 - Newsletter
Blockchain for distributing votes and independent digital dollars take center stage in the this week’s regulation news.
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The Ontario Securities Commission says that the Vancouver-based crypto exchange was a fraud.
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Toronto-based cryptocurrency exchange teams up with a local security firm to offer full security against “the unthinkable”.
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