Quadriga Probe The FBI and Canada's Mounties are reportedly investigating the implosion of cryptocurrency exchange Quadriga—the one where the founder apparently died and all the funds became inaccessible. Rival exchange Kraken told Fortune that the missing $136 million may have been transferred elsewhere. Fortune
Always knew this is faked death. Now it's time to play "Where in the world is Carmen Sandiego?" or in this case "Where in the world is Gerald Cotten?"
I don't think any ET user has an account with Quadriga and yet there are 3 separate threads I can see on the subject. I think there are more. Surprised Magna has not shut these down...
There are more than 1 about crypto's, or even bitcoin too. It is not just about Quadriga, it is about crypto's in general. It shows what risks you have in reality. The so called security is not working, neither is there any improvement. There are more and more scandals all the time. And the difference with fiat money is that with fiat money people get there money back. Crypto's are lost forever, thanks to the so important anonimity. The anonimity results in a garanteed robbery without any proof of guilt for the criminals. Almost the perfect crime. 115,000 clients lost in total about $150 million, so average less than 3.5 btc a person. The stupid herd got victim again. The joe averages without a brain; not the whales. Crypto's attract criminals; crypto's sounds almost like "corruptos": "Per legal documents and the press release, with the supposed death of Cotten, Quadriga’s remaining staff have effectively lost access to 26,500 BTC, 11,000 Bitcoin Cash, 11,000 Bitcoin SV, 35,000 Bitcoin Gold, 200,000 Litecoin, and 430,000 Ethereum. All this amounts to a nominal fiat value of 150 million U.S. dollars. Yet, a leading crypto researcher claims that the exchange never had access to such a pool of funds, and is lying through its own teeth."
The way I see, Cryptocurrency is for low security transaction. Those who say otherwise are probably - cyptocurrency investors - blockchain technology patent writers It will be in one the the MOST POINTLESS INVENTIONS list soon.
European banks are starting a collaboration forh payments executed in seconds and without any cost. This system is already operational between a lot of banks today. The so called advantage of immediate and free of costs transfers in crypto's will be gone in the next months. On top of that the fiat money transfers can be used immediatelly without any cost, to make new payments. Crypto's are limited in that to the crypto that was received or it should be converted which costs time and sometimes money too due to the high volatility.
The founder and CEO of now defunct QuadrigaCX Gerald Cotton used clients’ funds for private ends, reported the firm’s bankruptcy trustee Ernst & Young Inc. More specifically, Cotton, who died in mysterious circumstances last year, used customers’ funds to trade for his own account on other cryptocurrency exchanges.
This Quadriga shit is still being discussed? It's an exchange that no one ever heard of in cryptosphere. While wasting time here, bitcoin is on an unstoppable bull market trouncing 99.9% of other investment assets year to date.