Kraken Bounties $100,000 in Rewards for Discovery of Quadrigacx Exchange’s Crypto Funds


San Francisco based crypto exchange Kraken just announced that they are going to offer up to $100,000 to someone who can provide the answer to the question; What happened to QuadrigaCX’s coin?

What’s happening with QuadrigaCX?

The sudden death of Gerald Cotton, the CEO of QuadrigaCX, Canadians first cryptocurrency exchange threw the crypto world into a huge frenzy, a situation seen by many crypto analysts as unhealthy for the already bearish crypto market. Up until Cotton’s death in December 2018, QuadrigaCX, A Vancouver based centralized cryptocurrency exchange remained the most formidable cryptocurrency exchange in Canada which according to the Wikipedia serves as much as 115,000 customers.

QuadrigaCX has had its fair share of instability in its operations since its inception, the company made a declaration in June 2014 that they lost $14 million worth of Ethereum attributed to a smart contract error. The company was further discovered not to have a bank account and the business was run from home on Cotton’s encrypted laptop with all the customer's private keys which he alone had access to.

The aggressive stance that creditors are taking against widow Jennifer Robertson is causing some unwanted public attention. In response to the attention, Robertson has requested the help of the judge in charge of the QuadrigaCX case, asking him to assign a restructuring specialist as the new person in charge of the crypto exchange.

Kraken Steps In

Kraken is offering up to $100,000 in either fiat or digital currency as a reward for tips that could lead to the discovery of the missing assets. Their announcement says that it may end the reward program at any point in time.

“Kraken wants to bring awareness and attention to this case, in hopes that we can help discover some or all of the missing client funds,” the firm stated in a blog post.

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