Kraken to Pay $100k For Info on QuadrigaCX Lost Funds

As reported, the exchange wants to raise awareness of the QuadrigaCX case and draw attention to it
01 March 2019   305

Kraken has announced its willingness to pay a reward of $ 100,000 for information that will help in the search for cryptocurrency assets missing from the Canadian exchange QuadrigaCX.

As stated on the website of the exchange, since 2014, Kraken has invested significant resources and provided expert assistance to the trustee and investigators conducting the case of Mt. Gox, supporting the return of the largest possible number of bitcoins to the lenders of the exchange.

According to the founder, the exchange wants to raise awareness of the QuadrigaCX case and draw attention to it. As Kraken hopes, it will be able to help find at least some or all of the missing customer funds.

Simultaneously, the exchange conducted a podcast with Jess Powell, in which it published the most known information about the QuadrigaCX case and the alleged death of its founder and CEO, Gerald Cotten.

As stated by the exchange, information that will help in the search for missing funds, will be transfered to law enforcement agencies. Remuneration to informants can be paid both in cryptocurrency and in Fiat.

According to experts, QuadrigaCX’s debt to customers is $ 190 million ($ 137 million in cryptocurrencies and $ 53 million in Fiat). Due to unrecorded obligations, this amount may, however, turn out to be $ 6 million higher.

Hacked Zaif Exchange to Resume Operations

It was hacked in September last year,  about $60 million in cryptocurrency was stolen from its platform
22 April 2019   88

Japanese cryptocurrency exchange Zaif announced that it will complete the transition from the Tech Bureau to the Fisco Digital Asset Group (FDAG) on April 22 and resume normal operation the next day, Cointelegraph reportes.

In September last year, the exchange underwent a hacker attack when about $ 60 million in cryptocurrency was stolen from its platform, including Bitcoins, Bitcoin Cash and Monacoin. As part of the compensation plan to users, FDAG exchange acquired a large stake in Zaif business and transferred to the Tech Bureau over $ 44.6 million.

According to an earlier announcement of the exchange, 40% of the lost funds will be compensated to users by Fiat, and the remaining 60% - to the cryptocurrency, which will be available for withdrawal on April 23.