The Quadriga mystery continues to unfold. The accounting firm appointed as a monitor has taken control of the funds held by the defunct Canadian crypto exchange, but questions remain about the whereabouts of other funds that were once deposited with Quadriga.
If you haven’t been following the Quadriga saga, here it is in a nutshell. Quadriga is a crypto exchange that was run by a 30-year-old Canadian named Gerald Cotten who allegedly died in India in December. His widow alleges that the exchange was run by Cotten from a single encrypted laptop for which no one has the password. Consequently, about 115,000 customers of the exchange cannot access ’s cannot access their funds, totaling more than $140 million, according to an article on NDTV.com.
Ernst & Young confirmed in a court filing on Feb. 20 that it successfully moved cryptocurrency, worth a few hundred thousand dollars, into cold wallets controlled by E&Y.
An earlier report from E&Y revealed that Quadriga apparently accidentally had transferred 103 bitcoin, worth about $470,000, to cold wallets that Quadriga is unable to access.
In the meantime, speculation about the Quadriga situation and the more than $100 million in missing crypto runs rampant: