More than 600,000 Ethereum (ETH) linked to the embattled crypto exchange QuadrigaCX has been located, according to a new report.
The exchange says it is unable to access $145 million in cryptocurrency due to the death of its CEO Gerald Cotten, who was the sole person in possession of its location and private keys.
But new research revealed by crypto outlet Zerononcense, using information from Kraken CEO Jesse Powell and MyCrypto CEO Taylor Monahan, claims there is a “very strong possibility” that the deceased CEO of the exchange stored large amounts of ETH on the cryptocurrency exchanges Kraken, Bitfinex and Poloniex. The discovery, if true, may show that Cotten used the exchanges to store his clients’ crypto instead of using cold storage.
“Based on the transaction analysis included in the report, it appears that a significant amount of Ethereum (600,000+ ETH) was transferred to these exchanges as a means of ‘storage’ during the years that QuadrigaCX was in operation and offering Ethereum on their exchange.
Given the testimony in Jennifer Robertson’s affidavit stating that neither she nor the other involved individuals at QuadrigaCX were knowledgeable about where Gerry Cotten was moving and storing crypto, it is very possible that QuadrigaCX, the creditors, and other entities are unaware of this discovery.”
Kraken is urging the crypto community to listen to a series of discoveries they present in their latest video (below) and an earlier video covering Quadriga, so that the crypto community can help solve the mystery of the missing crypto.
In the latest video, the Kraken team lays out several startling allegations about the Quadriga founders.
“We reveal our own analysis and subjective assessment of the most plausible explanations or theories based on our experience as exchange operators.”
In total, Quadriga maintains that it can no longer access about $145 million worth of Bitcoin, Ethereum, Bitcoin Cash, Bitcoin SV and Bitcoin Gold.