5 purses tied to deceased people Canadian Cryptocurrency exchange QuadrigaCX, previously thought to be inaccessible, has been found to have around $1.7 million worth of bitcoin in motion after years of dormancy.
Crypto researcher ZachXBT alerted the crypto community in a December 19 Twitter post, highlighting that five wallets transferred about 104 bitcoins (Bitcoin) to various wallets on December 17th.
According to blockchain records, the wallet has not sent BTC since at least April 2018.
Five wallets attributed to QuadrigaCX unexpectedly moved ~104 BTC on December 17th for the first time in years.
1ECUQluioJbFZAQchcZq9pggd4EwcpuANe
1J9Fqc3TicNoy1Y7tgmhQznWrP5AVLXj9R
1MhgmGaHwLAvvKVyFvy6zy9pRQFXaxwE9M
1HyYMMCdCcHnfjwMW2jE4cv9qVkVDFUzVa
1JPtxSGoekZfLQeYAWkbhBhkr2VEDADHZB—ZachXBT (@zachxbt) December 19, 2022
QuadrigaCX, once Canada’s largest cryptocurrency exchange, declared bankruptcy in April 2019 following the death of founder and CEO Gerald Cotten in December 2018. Take sole responsibility for your private key of exchange wallets.
155,000 exchange users owed up to $200 million in cryptocurrency in bankruptcy.
In February 2019, a report from Big 4 accounting firm Ernst & Young (EY) – the firm that oversees the assets of exchanges – stated: QuadrigaCX transferred incorrectly About 103 BTC into cold wallet on February 6, 2019 Only Late Cotton could access to — Approximately the amount of Bitcoin recently moved.
At the time, the company said it would work with management to recover cryptocurrencies from cold wallets.
Related: The Regulatory Fate Of Cryptos Will Be Decided In The Year To Come
The mysterious death of the founder and CEO of QuadrigaCX and the subsequent collapse of the exchange meant that the founder faked one’s death As part of a fraudulent exit scam.
the story is Netflix Documentaries of 2022.
In 2014, a few years before his death, Cotten said in a podcast that the best way to store private keys was to print them out and store them offline in a safe deposit box. revealed the exchange I stored my private key offline in my bank’s company safe deposit box.
It is unclear if BTC’s movements are related to EY’s recovery efforts. Cointelegraph did not immediately respond to EY’s request for comment.
