QuadrigaCX Transfers All Crypto Assets To Ernst & Young
All cryptocurrency from the accounts of QuadrigaCX, the scandalous trading platform from Canada, was sent to the auditing company Ernst & Young (EY) by the court decision, CoinDesk reports.
The court appointed EY as an observer for QuadrigaCX. The auditor confirmed that it had taken over the assets of the crypto exchange and would keep them in cold storage. A total of 51 bitcoins, 960 ethers, 33 Bitcoin Cash, 2000 Bitcoin Gold, and 822 Litecoin will be on the observer’s accounts. EY will keep these funds until the final verdict of the court.
The asset transfer was carried out with caution. First, test transactions were conducted. 0.01 bitcoins and ethers were sent from the hot crypto wallet of the exchange, and only afterward the rest of the funds was transferred.
The previous EY report contained information that the QuadrigaCX trading platform inadvertently transferred over one hundred bitcoins to the cold wallet that was not available to anyone.
The Canadian crypto exchange announced the loss of access keys to customers' cold wallets following the death of the company's founder Gerald Cotten. About 20 lawyers of more than 100,000 affected users take part in court hearings. The plaintiffs demand to refund $52 million in fiat and $142 million in bitcoins and other cryptos.
Earlier, the Supreme Court of the Canadian province of Nova Scotia decided to appoint Miller Thomson and Cox&Palmer as representatives of the QuadrigaCX clients.