Quadriga: Twitter user finds the exchange liquidated $12.7 million BTC

03 Feb, 2019 | Updated: 03 Feb, 2019
by Richard Allen
Update
Quadriga: Twitter user finds the exchange liquidated $12.7 million BTC

Kraken CEO Jessie Powell as well Twitter account ProofofResearch have spent the last 24 hours or so combing through Quadriga’s transaction data. The results are still being released, but they hint at some very interesting findings.

Explaining that he’s not Chainalysis, BitMe Research, Kraken, or any other similar entities, the transaction data that has been sent to him by the QuadrigaCX (QCX) community means that ProofofResearch has been able to uncover quite a lot of information.

Firstly, what stood out to the researcher is that there is a cluster of address transactions from Mt. Gox entering the same cluster wallet as several Quadriga transactions. This led to ProofofReasearch asking if anyone is aware of a relationship between Gox and QCX.

However, it's important to note that this isn’t conclusive evidence that Gox is involved with QCX, but it does mean that old wallets were connected to Gox in some way.

The Twitter user then uncovered that QCX liquidated $12.7 million worth of Bitcoin into the cluster address from May 2018 to December 2018. So far there is no explanation as to why this happened or where the funds have gone.

ProofofResearch has since reached out to Elementus.io, BitMex Research, Chainalysis, to verify QCX’s claims of being insolvent due to their failure of finding their reserve wallets.

We’ll be sure to keep you updated on the latest findings as they are released.

Read more: What we know about Quadriga so far; QuadrigaCX debacle: Truth or exit scam?; the community responds

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Read more about: Bitcoin (BTC)

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