Kraken Will Pay You $100K If You Have Any Information About QuadrigaCX Case

Kraken exchange is ready to pay $100k for information on QuadrigaCX case, which happened earlier this year. The platform wants to find the truth about the existence of $150 million and the CEO’s death.

QuadrigaCX scandal

QuadrigaCX is a Canadian-based crypto exchange, which has been experiencing financial difficulties since the beginning of 2018 as the Canadian bank froze several accounts. The battle between the exchange and bank led to inability of some users to get access to their funds. At the end of the past year, the platform promised to restore all the funds.

However, on January 14, 2019, it was reported that the CEO of the QuadrigaCX exchange, Gerald Cotten, had died in India one month before. Allegedly, he was the only person who had access to cold wallets contained $150 million. The rumours of faked death began spreading. It is known for sure, the exchange was not hacked, yet it was shut down.

It is possible for researchers to find the reserve or cold wallets using public blockchain like Bitcoin or Ethereum, however, no one did. There is no proof that such wallets existed which makes this case even more mysterious.

The Kraken exchange helps the investigation

The Kraken exchange wants people to pay attention to this case, as thousands of people were left without any money due to the scandal. The exchange said that it would pass every detail received to the FBI or the Royal Canadian Mounted Police.

The money will be provided in fiat currency or cryptocurrency, depending on the receiver. Though the person will get money in case the provided information leads to police finding funds or them making substantial progress.

QuadrigaCX wallets found empty

The mystery of the case deepens as the assets were moved out in April 2018, more than 9 months before it was announced by the exchange, according to the Bloomberg. So, where are those $150 million?

Ernst & Young, a bid auditor which was assigned to find the assets, claimed that five of six cold wallets have been empty since April while the sixth “appears to have been used to receive Bitcoin from another cryptocurrency exchange account and subsequently transfer Bitcoin to the Quadriga hot wallet.”

Last week, a researcher named James Edwards reportedly found $90 million which were transferred from QuadrigaCX to Bitfinex and Poloniex via dummy accounts. It is still unknown where is another part of those funds.

The Kraken CEO, Jesse Powell, stated that if the funds from QuadrigaCX were on the exchanges, there was a hope to recover them with the assistance of the exchanges. He said

“This is the best hope that QuadrigaCX clients have — that Cotten was keeping client funds in other exchanges. Unfortunately, nothing at Kraken. Hopefully, others are looking. Could be accounts were created under different names so might take some real digging to find.”

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