Ethereum Withdrawal From QuadrigaCX After CEO Death
Nearly $1 million worth of ether (ETH) left QuadrigaCX and went to other cryptocurrency exchanges in December, the same month its CEO died, a CoinDesk review of public blockchain data shows, CoinDesk reports.
In the statement, BCSC insisted that it is not aware of any business activities carried out by QuadrigaCX that fall under its regulatory scope, and therefore it is not responsible for regulating the exchange, which is making headlines for allegedly losing about $180 million of user funds after its founder Gerald Cotton died with sole access to its cold wallets.
Gerald Cotten’s death in India is suspicious. Vancouver’s Quadriga had been having cash-flow problems for months. Twelve days before Cotten’s death, the man made a detailed will, including money for his Chihuahua dogs.
The trail starts in June 2017, the last time the publicly identified QuadrigaCX wallet was used. It was emptied into two other addresses.
One of the two wallets received 3,000 ETH (around $825,000 at that time) on June 2, 2017. According to Taylor Monahan, founder and CEO of the wallet startup MyCrypto, this wallet is probably a certain user’s deposit account for another exchange, Bitfinex, since funds were regularly put into this wallet from QuadrigaCX addresses and then sent to Bitfinex.