The mysteries and controversies around the cryptocurrency exchange QuadrigaCX have been growing by leaps and bound. A recent report now suggests that a significant quantity of Ethereum (ETH) was probably stored in other crypto exchanges, such as Kraken, Bitfinex and Poloniex.

The aforementioned claim was made in a report that was published by crypto research and consulting platform ZeroNonCense on Feb. 28.  The corroborating information was obtained from Kraken CEO Jesse Powell and MyCrypto CEO Taylor Monahan.

To be exact, the author of the report “believes that there is a very strong possibility” that over 650,000 ETH that belongs to QuadrigaCX were stored on the Kraken, Bitfinex and Poloniex crypto exchanges during QuadrigaCX’s operations. Furthermore, the report claims that QuadrigaCX had accounts on all those exchanges is already been established and that at the time they were sent, the funds were worth over $100 million.

QuadrigaCX Debacle

For the uninformed, following the sudden death of its founder Gerry Cotten, QuadrigaCX reports that it is missing CA$190 million dollars ($145 million) in digital assets. Reportedly, Cotten was the only one with who had the security keys for the cold storages.

Given the recent affidavit of the founder’s widow Jennifer Robertson that neither she nor other individuals involved with the exchange knew where Cotten stored the crypto asset. It might be a possibility that they were not aware of these storage practices.

Another report from the Big Four audit firm Ernst & Young claims that the exchange’s cold wallets have been empty and unused since April 2018. ZeroNonCense hints that this could be explained by the possibility that the assets are instead stored on those exchanges. Furthermore, the report concludes that if QuadrigaCX’s funds are still on the aforementioned exchanges, the fund retrieval could be a possibility, albeit difficult.

Interestingly, Kraken recently announced a reward for users, who could help the exchange with the fund relocation or QuadrigaCX’s fund.

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The post Research Suggests That QuadrigaCX Stored ETH on Kraken, Bitfinex and Poloniex appeared first on Latest Crypto News.



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