QuadrigaCX to Go to Court to Protect Against Creditors

Recently exchange reported on CEO's death; theory says only he had access to the wallets
01 February 2019   580

QuadrigaCX, a Canadian cryptoexchange users of which aren't able to withdraw funds for few month now, appealed to the Supreme Court of Nova Scotia to provide protection against creditors' claims.

An application for creditor protection in accordance with the Companies' Creditors Arrangement Act (CCAA) was filed today in the Nova Scotia Supreme Court to allow us the opportunity to address the significant financial issues that have affected our ability to serve our customers. The Court is being asked at a preliminary hearing on Tuesday February 5 to appoint a monitor, Ernst & Young Inc., as an independent third party to oversee these proceedings.

For the past weeks, we have worked extensively to address our liquidity issues, which include attempting to locate and secure our very significant cryptocurrency reserves held in cold wallets, and that are required to satisfy customer cryptocurrency balances on deposit, as well as sourcing a financial institution to accept the bank drafts that are to be transferred to us. Unfortunately, these efforts have not been successful. Further updates will be issued after the hearing.
 

Message from QuadrigaCX Board of Directors

Note that in the past month, the exchange announced the sudden death of its CEO and President Gerald Cotten. QuadrigaCX has not yet provided evidence to confirm his death. One theory is that the exchange does not have access to cold wallets, since it was only at Kotten.

Poloniex to Bring Back the Trollbox

According to Poloniex owner, the "most frequent request has been, “BRING BACK THE TROLLBOX”, a general topic chat  
19 June 2019   180

Due to numerous requests from users, the Bitcoin exchange Poloniex activated a general chat, better known as Trollbox.

You’ve been asking for it and we’re excited to tell you IT’S HAPPENING: Trollbox is back! Poloniex’s Trollbox is the original forum for traders to talk all things crypto. Our legendary mods are ready to go, armed as always with the mighty Banhammer to maintain order.
 

Poloniex Team

From now on, traders can again communicate on a wide range of topics without leaving the stock exchange, and moderators will use the legendary ban-hammers in case of violation of the rules.