February 11, 2019 4:45 am,
It has become abundantly apparent that the BTC crash induced crypto winter hasn’t managed to seduce the bears. The crash in the broader cryptocurrency market, has sent investors running en-masse has resulted in a number of layoffs at this budding sector. The exchange QuadrigaCX never had $190 million BTC it supposedly lost when its CEO unexpectedly died, new research claims.
The exchange earlier faced legal trouble in November 2018, then a judge ruled in favour of Canadian bank that had frozen around $19. Million in the exchange accounts citing an inability to determine the funds owners.
MyCrypto CEO Taylor discovered that the exchange does not even an ETH cold wallet which stored user funds. He evaluated three main ETH addresses used by exchange and no evidence was found to support that the addresses were used as the cold wallets of the exchange. One wallet containing 500,000 transactions still needs to be analyzed but it is likely not a cold wallet. In addition, a thorough analysis of the exchange main hot wallet cluster address has failed to provide evidence that there has been any movement of BTC to an outside wallet address that contains any significant holding BTC. The exchange’s hot wallets had not made any major transaction to an outside wallet address with a large amount of BTC, suggesting that user funds may have been stored in hot wallets.
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