Bankrupt Crypto Exchange QuadrigaCX Now Has At Least 4 Law Enforcement Agencies Investigating

    You may remember QuadrigaCX, the Canadian exchange with a CEO Gerald Cotten who died and took all the time of the investors to the grave. In a recent development of this story, which happened at the beginning of 2019, at least four different law enforcement agencies are said to be investigating the case.

    According to Ernst & Young (EY), one of the largest auditing companies in the world, the FBI, the Royal Canadian Mounted Police, an Australian agency and other unnamed agency are all involved in the case. A lot of money was lost during the case and it turned into an international issue.

    At the moment, these agencies are continuing their investigations and George Kingman, an EY employee responsible for the case, affirms that many details of the case are still unavailable to the public because the law requires it.

    Another development of the case is that the bankruptcy process of the company will be moved from the courts of Nova Scotia to Ontario. The reason for the change is because the people involved believe that this decrease the costs of moving the process ahead. Several creditors of the company are also in the new jurisdiction, so it will be easier for them to attend to the court hearings.

    Unfortunately, most of these situations take a long time and it will still be months until some of the investors can recover their assets. As most of the money was simply lost, there are also the issues that there is no way to actually get the money back.

    The next hearing of the case is set to be held on September 10.

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    Nirmala Velupillai
    Nirmala Velupillai
    Nirmala is a blogger who has been fascinated by the world of technology and its contributions to societal development. While a novice, her eager to learn about the crypto world has led her to write a number of pieces on its positive and negative aspects. On her spare time, she indulges in understanding and building statistical models and enhancing her painting skills.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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