Last month the Canadian crypto exchange QuadrigaCX have shut down all operations after the owner of the exchange Gerald Cotten passed away and all of the funds disappeared from the exchange. As we previously reported in our digital currency news, nearly $200 million as now lost.
For that reason, the CEO of San-Francisco based exchange Kraken offered a $100,000 bounty for any information that will make a significant step forward in finding the missing funds.
Kraken announced its offer to its users via email saying that the tips received will be given to the FBI and other interested law enforcement agencies. After QuadrigaCX went dark, a huge chunk of the clients’ assets remains unavailable. More than 26,000 BTC and 430,000 ETH were believed to be under the owner of the exchange control.
However, Jesse Powell, Kraken’s CEO, said that his team is investigating the Canadian exchange’s wallet and that is why they offer a bounty in order to accelerate the process of recovering the funds. In a statement, Kraken explained:
“Kraken is offering up to a $100,000 USD reward for information leading to a significant break in the case or recovery of the missing client funds. It is up to Kraken’s sole discretion which tips warrant a reward, if any. The total of all rewards will not exceed $100,000 USD. Kraken may end this reward program at any point in time.”
A researcher from ZeroNonecense, James Edwards published an article named ‘’QuadrigaCX Ethereum Storage Found.’’ He stated that ETH funds were being held on different accounts at three different crypto exchanges mainly Kraken, Bitfinex, and Poloniex. As it turned out later, his work was handed to Kraken’s bounty program but it’s too early to know whether this information is worth the reward.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]