QuadrigaCX CEO to Use Own Funds to Pay Customers

This was stated by Gerald Cotten's widow Jennifer Robertson
14 March 2019   329

The deceased founder of the QuadrigaCX Canadian Bitcoin Exchange, Gerald Cotten, could use his own funds to pay customers. This was reported by his widow Jennifer Robertson, CoinDesk reports.

In 2018, the Canadian Imperial Bank of Commerce froze $ 28 million in fiat assets of the exchange, without being able to confirm their owner.

While I had no direct knowledge of how Gerry operated the business, he told me that he had been putting his own money back into QCX to fund user withdrawals in 2018 while the CIBC money remained frozen. I believe Gerry had the best interests of the business in mind, and cared for his customers.

Jennifer Robertson

Gerald Cotten's widow

It also became known that Stewart McKelvey will no longer represent the interests of the exchange because of the presence of a certain conflict of interests, the details of which, however, are not disclosed.

The exchange is still trying to restore access to users' funds for $ 190 million. Earlier it was reported court gave additional 45 days for the exchange to look for missing funds.

Stolen Cryptopia Funds to be Found at Huobi

Researchers says hackers presumably chose this site to withdraw part of the stolen assets
21 May 2019   105

CoinFirm researchers tracked the movement of funds stolen from the New Zealand Bitcoin Exchange Cryptopia.

Two other addresses received a total of 1010 ETH. At the same time, according to CoinDesk, 10 ETH were moved to the wallet of the Huobi exchange. Hackers, presumably, chose this site to withdraw part of the stolen funds.

According to data, the damage to Cryptopia as a result of the January hacking could amount to $ 16 million. The site management announced its intention to return funds to affected users and even credited tokens to users' accounts, which fixed the amount of payments due to them.

Attempts of the management to achieve profitability after hacking were in vain. The management subsequently decided to begin the liquidation process for Cryptopia.