Report: QuadrigaCX Wallets are Unused Since April 2018


Ernst & Young published “Third Report of Month” on 11 March for Candian Crypto exchange QuadrgaCX.



The reports showing that six wallets that the exchange used frequently for deposits are not used since April 2018. The last transaction was sent by QuadrigaCX to the cold wallets worth $500,000. The report added:

“To date, the Applicants have been unable to identify a reason why Quadriga may have stopped using the Identified Bitcoin Cold Wallets for deposits in April 2018, however, the Monitor and Management will continue to review the Quadriga database to obtain further information.”

In February the exchange reported that they can’t access the cold wallets. The CEO of QuadrigaCX is solely responsible for the private keys of the cold wallets. QuadrigaCX exchange missing  CA$190 million dollars ($150M million dollars) in crypto assets after the death of the founder of exchange Gerry Cotten, Candian media reports on Feb 1.

The research firm investigating the QuadrigaCX database records. The monitor is trying to access the data stored on AWS cloud of Amazon. However, the data is not yet discovered:

“Due to the account is a personal account in the name ofMr. Cotten, AWS has indicated that it is unable to provide the Monitor with access to the AWS Account to permit a copy of the data that it is hosting to be secured.”

The founder and CEO of the major Canadian crypto exchange QuadrigaCx, Gerald Cotten may have stored the private keys on paper in a security box published in a report on 15 Feb.

Cryptocurrency exchange hacks are real pain for the users. Cryptopia Newzealand based cryptocurrency exchange was hacked back on 14 Jan. Cryptopia announced that the exchange will reopen in read-only mode by 4 March.