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(Bloomberg) — More than 100 bitcoins accidentally deposited nearly four years ago into inaccessible storage accounts by Quadriga CX have been moved without permission, according to the defunct digital exchange restructuring trustee.
Ernst & Young Inc. said the private keys associated with the so-called cold wallets have not been located. Bitcoin remained in Quadriga’s cold wallets until December 16, before unauthorized transfers were initiated. The admin said he did not initiate Bitcoin transfers, currently valued at around $1.7 million.
Long before the collapse of FTX, Quadriga CX captured the attention of the crypto world and mainstream media following the mysterious death of its founder Gerald Cotten. The Vancouver-based digital exchange, which Cotten operated primarily from a laptop, was unable to recover approximately C$190 million ($139 million) in Bitcoin, Litecoin, Ether and other digital tokens held for its customers when it collapsed in early 2019.
Some bitcoin was recently transferred to a Wasabi digital wallet, a popular service that allows users to mix their tokens in ways that keep their identities private, blockchain data firm Chainalysis said.
Quadriga CX had inadvertently transferred 103 Bitcoins in February 2019 which Ernst & Young could not access.
A message sent Tuesday to Quadrigas bankruptcy trustees at Ernst & Young was not immediately returned.
Regulators in Canada concluded in an investigation that Quadriga CX’s collapse was the result of fraud by Cotten.
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