Report states Quadriga may have stored over $100 million on other exchanges

03 Mar, 2019
by Richard Allen
Update
Report states Quadriga may have stored over $100 million on other exchanges

According to a recent report published by crypto research and consulting firm ZeroNonCense, QuadrigaCX likely stored a significant amount of Ethereum in other cryptocurrency exchanges. The information was further corroborated by Kraken CEO Jesse Powell and MyCrypto CEO Taylor Monahan.

The chaos surrounding QuadrigaXC began with the unexpected death of its founder, Gerald Cotten. When he died, he took the private keys to $145 million worth of cutomers’ funds with him.

The author of the report “believes that there is a very strong possibility” that as much as 650,000 Ethereum belonging to Quadriga is stored on Kraken, Bitfinex and Poloniex. The report states that is has been proven that Quadriga had accounts with those exchanges and that the transfers totaled over $100 million.

Read more: Kraken offers $100K reward for best tips to QuadrigaCX's $190M lost funds

The report goes on to state that, based on the testimony given by the founder’s widow, Jennifer Robertson that neither she nor other individuals knew where Gerald Cotten was moving and storing the funds and that it's very likely creditors and other entities are unaware of the discovery.

The report also states that Jennifer Robertson mentioned in her affidavit that her late husband may have stored some of Quadriga’s funds on other exchanges. Ernst & Young, Quadriga’s court-appointed monitor, recently released a report describing how almost all of the exchange’s wallets are empty. ZeroNonCense’s report might provide an answer as to why that’s the case.

Read more: It's been revealed that QuadrigaCX cold storage wallets are basically empty

The report concludes that if Quadriga's funds are still on those exchanges, their retrieval should be easy and may even allow for the exchange to continue operations once funds have been redistributed to their customers.

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Poll

Do you think Quadriga customers will ever get their funds back?

(1282 votes)

Add a comment

i used to trade on binance and bitfinex and not surprised that one of these exchanges has so amount of eth
03 Mar, 2019 - 21:24
sure thing, bro. indeed
05 Mar, 2019 - 08:48
I don't know when the huge volumes on the top exchanges become smth bad and untruthful
05 Mar, 2019 - 19:51
lol. I wonder who can be surprised that top exchanges have big volumes and coins on their wallets
12 Mar, 2019 - 05:42
of course. how can top exchange have low amount of trcoins?
14 Mar, 2019 - 06:25
just look on the coinmarketcap. bitfinex has huge trading volumes
15 Mar, 2019 - 07:47
The source of info is very questionable as the news itself. Surprising that so many media writes the same unchecked info.
04 Mar, 2019 - 20:51
as usually, haters and competitors pay someone to shill bitfinex
12 Mar, 2019 - 07:46
This is just hype without any proves on Quadriga still warm body!
04 Mar, 2019 - 23:05
of course. only fund about bitfinex and kraken. someone wants to blame these platforms
21 Mar, 2019 - 01:04
if it is true i would not be very surprises. actually bitfinex is among the most trusted and safest exchanges that are available at the market right now
08 Mar, 2019 - 15:27
ofc. real users will not listen to this bullshit
15 Mar, 2019 - 22:42
I agree with you. Bitfinex is reliable enough so I not listen to all the rumors
18 Mar, 2019 - 19:53
as quadgira was using reliable place to keep their funds like binance and bitfinex then users can really hope on getting their funds back
16 Mar, 2019 - 10:32
I hope everyone understands that Bitfinex rly reliable exchange and that is only funds stored on it
20 Mar, 2019 - 21:39
of course, what worries can come. everyone knows that as bitfinex as kraken are not involved in this all
21 Mar, 2019 - 03:01
where are proofs? bitfinex is not guilty and this is all we need to know.
22 Mar, 2019 - 09:32
even big exchanges understand that keeping funds at places like binance or bitfinex is safe. i personally have account at binance
22 Mar, 2019 - 11:22
it is a commin thing to keep funds on top exchanges. we can be sure thsese exchanges are safe and secure places
22 Mar, 2019 - 18:24

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