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Canadian cryptocurrency exchange QuadrigaCX loses access to its wallets

The Canadian cryptocurrency exchange QuadrigaCX has lost control of its wallets leaving their customers worried as the troubles for the exchange continues, as indicated by a notice from QuadrigaCX’s board of directors.

Customers became anxious a few days ago when the exchange went offline citing maintenance issues, however, the recent report indicates that the trouble is deeper than it seems.

The board said that there are “significant financial issues,” brewing and hence the exchange has not been operating efficiently off late. Further legal oversight has been piled onto the exchange with the Nova Scotia Supreme Court appointing the global audit giant Ernst & Young Inc. as an independent third party to supervise the creditor protection that will take place next month.

Liquidity is also addressed by the board that is adversely affecting the exchange’s performance, with the cold wallets problem piling onto the same. The notice stated:

“For the past weeks, we have worked…

Read Full Story : AMBCrypto

2019-02-02 00:30:43

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