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Old February 2, 2019, 10:47 AM
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Default QuadrigaCX Founder Passes Away

Wow, this isn't good news: https://arstechnica.com/information-...-to-the-grave/

Hopefully nobody had too much on their exchange... I had my original $300 from almost 2 years ago in there as ETH but I guess it's probably lost now since I mostly forgot about it and never moved it to a different wallet.

Oh well, it was just a "gambling" experience for me anyhow as I had traded it around the coins they had in the BTC hay days.
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Old February 2, 2019, 11:45 AM
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yes roll the dice when it come to digital money, seems they go bust like the pyramid schemes
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Old February 2, 2019, 11:48 AM
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I never actually used them back in the day but that is too bad. I am kinda on board with the conspiracy theory though.. this is either gross negligence (no backup, no unlock keys in trust, only 1 person has access in a company, risk of fire wiping out company) which seems unlikely ..or given the circumstances around his death, this reeks of an elaborate exit scam to hide something. most likely the latter.
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Old February 2, 2019, 12:54 PM
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Ah shit, just lost about 1k. Well give or take. Maybe a little less considering the market. Just annoyed as I was thinking of pulling it all out about a month ago.

But as Entz said, this really does look like an exit scam.
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Old February 2, 2019, 03:17 PM
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If it was an exit scam his widow wouldn't have the laptop or security experts trying to decrypt it.


Sorry to hear about their problems, I used Quadriga almost exclusively for cashing out my coins back when it was profitable last.
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Old February 2, 2019, 03:42 PM
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Originally Posted by SugarJ View Post
If it was an exit scam his widow wouldn't have the laptop or security experts trying to decrypt it.


Sorry to hear about their problems, I used Quadriga almost exclusively for cashing out my coins back when it was profitable last.
well where is the money cyber space ? doubt that story
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Old February 2, 2019, 03:44 PM
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Is there any proof there is anything in the laptop or even anything left in the cold wallets.. it’s a good excuse,when the company had money issues. Oh we promise the money is there we just can’t get to it *shrug*... many exchanges do that, oh the cold wallet was hacked, next thing they are living in another country ..
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Old February 2, 2019, 04:48 PM
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Weren't they in a big legal battle with the banks too?

Edit: yep. And they won. $30 million cash in December, then one month later they're having 'liquidity' issues.
https://www.reddit.com/r/QuadrigaCX/...pdate_dec_4th/

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Last edited by Sagath; February 2, 2019 at 06:02 PM.
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Old February 2, 2019, 05:18 PM
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Quote:
Message from QuadrigaCX Board of DirectorsJanuary 31, 2019
Dear Customers,
An application for creditor protection in accordance with the Companies' Creditors Arrangement Act (CCAA) was filed today in the Nova Scotia Supreme Court to allow us the opportunity to address the significant financial issues that have affected our ability to serve our customers. The Court is being asked at a preliminary hearing on Tuesday February 5 to appoint a monitor, Ernst & Young Inc., as an independent third party to oversee these proceedings.
For the past weeks, we have worked extensively to address our liquidity issues, which include attempting to locate and secure our very significant cryptocurrency reserves held in cold wallets, and that are required to satisfy customer cryptocurrency balances on deposit, as well as sourcing a financial institution to accept the bank drafts that are to be transferred to us. Unfortunately, these efforts have not been successful. Further updates will be issued after the hearing.
run to the hill boys
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Old February 2, 2019, 05:24 PM
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Say with me: If you don't own the keys you dont own it. Someone else does.

I do not wish to speak ill of the dead... but it would not surprise me in the least if in 6-12months time the 'widow' takes a... 'sabbatical' to a non-extradition country. Right now they dont even KNOW what blocks were owned by the owner. Pretty easy to move 130+million across a couple exchanges before turning it into fiat in more... friendly country of their choice.

TBH given the option of someone dead or took they money and run... I hope it is the later and not the former. If not may he RIP, stress kills and the banking institutions in canada must have been a nightmare to deal with.
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