The Nova Scotia court that is overseeing the Quadriga morass ordered the start to bankruptcy proceedings, which could lead to the liquidation of assets and settlement of claims.
The court order came in response to a report from Ernst & Young, the accounting firm that was appointed as a monitor. In the report, the firm said, “Given the present circumstances, the possibility that Quadriga will restructure and emerge from [bankruptcy] protection appears remote.”
Separately, news reports are tying Gerald Cotton with Liberty Reserve, a currency that was shut down by U.S. law enforcement in 2013 for its alleged connection to money laundering.
Reddit users claim QuadrigaCX withdrawals came from other exchanges.
