On Dec. 19, the Twitter account Zachxbt revealed he discovered five cold wallets from the now-defunct Quadrigacx crypto exchange move 104 bitcoin. The following day, ‘big four’ accountancy firm EY, Quadrigacx’s bankruptcy court trustee, explained it did not authorize the spending of the funds and that prior reports detailed that the cold wallets were inaccessible to EY.
Cold Wallets Associated With Now-Defunct Quadrigacx Wake up After Years of Sitting Idle
During the first week of Feb. 2019, the crypto exchange Quadrigacx told customers it was shutting down operations until it solved liquidity issues. Then the Supreme Court of Nova Scotia ordered the business to enter into the Companies’ Creditor Arrangement Act (CCAA), and the court appointed the accountancy firm EY to manage the firm’s remaining assets.
Making matters worse, it was discovered that $150 million in customer funds were lost after the death of Quadrigacx’s founder Gerald Cotten. Reportedly, the private keys C
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