Bitcoin exchange QuadrigaCX lost access to users' funds for $ 190 million

The Canadian Cryptocurrency Exchange QuadrigaCX cannot access wallets with user funds worth CAD 250 million ($ 190 million), reports CoinDesk , citing the organization’s statement, previously filed with the Supreme Court of Nova Scotia.

Thus, about 115 thousand users had cryptocurrency (180 million CAD) and fiat balances (70 million CAD).

As the newspaper notes, there are 26,500 BTC, 11,000 BCH, 11,000 BSV, 35,000 BTG, 200,000 LTC and 430,000 ETH stored on the purses of the exchange. Most of these funds are probably in cold storage.

QuadrigaCX representatives claim that CEO Gerald Cotten, who allegedly died of Crohn's disease in India in early December 2018, was solely responsible for managing cold wallets. Nevertheless, the community has not received evidence of his death.

It is noteworthy that the Billerfy and WB21 payment processors allegedly retain part of QuadrigaCX fiat funds; the first one cannot find a banking partner to process the relevant payments, and the second simply does not respond to requests from the exchange.

Recall earlier QuadrigaCX went to the "technical work". The website of the exchange is unavailable until now.

Subscribe to the BlockchainJournal news in Telegram: BlockchainJournal Live – the entire news feed, BlockchainJournal – the most important news and polls.