• CoinStic
  • Posts
  • QuadrigaCX Judge Extends Courtroom Drama As Crypto Exchange Struggles to Account for Millions in Lost Bitcoin, Ethereum, Litecoin and More

QuadrigaCX Judge Extends Courtroom Drama As Crypto Exchange Struggles to Account for Millions in Lost Bitcoin, Ethereum, Litecoin and More

March 06, 2019

The QuadrigaCX debacle continues, with a judge now granting the Canadian crypto exchange a 45-day extension to find more than $100 million in lost Bitcoin, Ethereum, Bitcoin Cash, Bitcoin SV and Bitcoin Gold. The extension essentially prevents people from suing the exchange while the investigation continues.

The exchange is embroiled in a court case following the disappearance of its founder Gerald Cotten, who may have been the only person with access to vast amounts cryptocurrency.

Michael Wood of the Nova Scotia Supreme Court appointed retired partner and senior vice president of audit firm Grant Thornton as chief restructuring officer to manage the exchange and related companies.

Wood also issued a court order giving Amazon Web Services the go-ahead to release any data relevant to the case, reports CoinDesk. The judge also wants any payment processors connected to the case to reveal insight they may have on the company’s assets.

The cryptocurrency exchange began court proceedings in February. Its court-appointed auditor, Ernst & Young says the company’s cold storage wallets are empty.

Meanwhile, a new report claims to have discovered more than 600,000 Ethereum (ETH) linked to the embattled crypto exchange. The exchange has yet to comment on the report’s findings.

The next hearing is scheduled to take place on April 18.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.