Latest in Business

Image credit: Mark Blinch / Reuters

The FBI wants help from victims of QuadrigaCX's cryptocurrency collapse

The exchange went under with hundreds of millions in assets unaccounted for.
109 Shares
Share
Tweet
Share
Save

Sponsored Links

A Bitcoin sign is seen in a window in Toronto, May 8, 2014. Mark Blinch / Reuters

Remember that wild cryptocurrency story from earlier this year? The one where a Canadian exchange shut down shortly after co-founder and CEO Gerald Cotten died, claiming he was the only one who could access its wallets. Wallets that should've stored assets for 76,000 customers with a value of around $200 million (CAD). If any of that was your digital money then yeah, you probably do remember.

Investigations into the company, QuadrigaCX, have suggested it did not have the money to satisfy its deposits, and naturally, law enforcement is sniffing around. Its customers were located around the world, and the FBI is circulating a form for customers to get in touch with it, the IRS, the Washington D.C. AG's office and the DoJ's Computer Crime and Intellectual Property Section.

QuadrigaCX's bankruptcy is being handled Ernst & Young, which reported that it has only recovered $28 million so far, mostly in cash. The company's other founders have reportedly been uncooperative, and its bookkeeping was sloppy. It could be a while before this "ongoing investigation" turns up anything useful, but we'll stay tuned.

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr