QuadrigaCX Can't Get Its $20M

Supreme Court of Ontario ruled in a favor of a bank, not biggest local cryptoexchange
15 November 2018   1195

The Supreme Court of Ontario will deposit $ 19.6 million, located on five bank accounts of Canada's largest cryptocurrency exchange QuadrigaCX. This is stated in the court ruling and reported by the Cointelegraph.

These funds will be transferred to the Supreme Court of Ontario by the Canadian Imperial Bank of Commerce to establish their owners. For example, $ 19.6 million may belong to the QuadrigaCX exchange itself, on which its management insists that the payment operator Costodian servicing the site or 388 users who have placed these funds as deposits.

At the same time, Judge Glenn Haney was unable to determine the validity of the freezing of the accounts of the exchange by the CIBC within the framework of the proceedings.

Accordingly, it would be inappropriate for me to extinguish any liability that CIBC may have for freezing the accounts in the absence of an evidentiary record that establishes that CIBC has no liability.
 

Judge Hainey

Supreme Court of Ontario

In October it became known that QuadrigaCX was experiencing problems with withdrawing customer funds due to the blocking of accounts related to the Costodian Inc. service and its owner, Jose Reyes.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   1063

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.