QuadrigaCX, once Canada’s largest cryptocurrency exchange, is launching a limited repayment program 4 years after its bankruptcy.
QuadrigaCX, CEO Gerald Cotten‘of in india shortly after his death February 2019It had gone bankrupt. For the stock market and its users, which have been dragged into a painful process since then. first positive news came.
Law firm representing investors with money left on the QuadrigaCX exchange Miller Thomson by 8 MayIn the coming weeks, according to a paper published in limited distribution process will begin. bankruptcy trustee Ernst & Young due to the creditors in line with this fund return process approved by Just a fraction of $160 million will be given back.
Trustee EY will be making available to aggrieved users of QuadrigaCX within the next week. via mail information on how to reach out and request for distribution. road map will share. In this direction, plans will be discussed about how much payment can be made to which user.
Exchange-owned after CEO’s death cold to wallets access was lost. Gerald Cotten himself was the only person with access to the wallets in question at that time, and this irreversibly affected the functioning of the exchange. stalemate stung.
Luxurious life before suspicious death
On the other hand, Gerald Cotten 30 year old sudden death for a long time suspicious was called and FBI initiated extensive research on the subject. During these investigations, Gerald had transferred millions of dollars from client funds to other exchanges and used to spend his personal life in luxury. had appeared.
Many people are still in Cotten’s he believes he is not dead and continues to follow. About subject on netflix “Trust No One: The Hunt for the Crypto Kinga named documentary even published.