QuadrigaCX Incidents Looks Like Scam
Researchers’ team of CryptoMedication company decided that QuadrigaCX cannot give $190 million back to its users. According to the specialists, administrations cannot do it because it did not have such an amount of money even when it kept the lights on.
Auditor firm specialists managed to determine the list of addresses which the exchange had already used to make clients’ transactions. But CryptoMedication employees could not find a single address which would be used for as a reserve. Moreover, the researchers did not find exchange’s wallets with at least 100 BTC.
Most likely, QuadrigaCX exchange has never had enough money to pay to platform’s clients, no matter whether it comes to fiat or crypto currency. CryptoMedication found out that the funds were going from an address to address by users’ request, but only to for the last withdrawal. However, the analysts noted that their ideas should not be considered as 100% truth.
CryptoMedication also doubts whether the access to cold wallet was lost because of Gerald Cotten death. It is quite reasonable, taking into account that Cotten claimed in 2015 that exchanges’ cold wallets were confirmed with the help of multisignature.