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Governmental Committee In India Suggests Legalizing Cryptocurrencies

Stefan by Stefan
21/02/2019
in Blockchain News
Reading Time: 2 mins read
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The CFO Of Wonderland, quadrigaCX, patryn
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All of the online wallets of the controversial QuadrigaCX exchange that we covered multiple times in our crypto news have been emptied from all of the BTC and ETH remains and were sent to the Ernst & Young (EY) auditor.

Nearly 54 bitcoins and 960 ether coins were sent on February 14 to the newly created blockchain addresses that were first identified as a part of the Canadian exchange. The amounts matched the previously reported amounts by EY that were contained in the hot wallets of the exchange.

Today, EY confirmed in their second report that they have taken control of the funds by transferring all of the remaining bitcoins and ether coins from QuadrigaCX’s accounts to the Ernst & Young’s cold wallet. The auditor stated:

 “On February 14, 2019, after testing the transfer arrangements, the Applicants successfully transferred the following cryptocurrency to the Monitor. The Monitor will hold the cryptocurrency in cold storage pending further order of the Court.’’

EY noted that the transfer occurred due to a platform error and that the exchange still has about 100 Bitcoins in the cold wallets. The report also shares the updates on the fiat holdings of the Canadian exchange, explaining that there are three main sources for their security such as Costodian payment processor that holds about $25 million CAD, another bank in possession of Stewart McKelvey holding $5.8 million CAD and other amounts held by third-party processors.

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QuadrigaCX went offline in January right after the death of the exchange’s CEO Gerald Cotten in December. The Supreme Court of Nova Scotia granted the creditor of the exchange protection. Cotten’s wife Jennifer Robertson stated in her affidavit that her husband was the only one who managed the transfers between the wallets and no one has access to the cold wallets.

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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]

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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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