Report: QuadrigaCX Accidentally Transferred $500K in BTC to Cold Wallets It Cannot Access

According to a report, QuadrigaCX has “inadvertently transferred 103 bitcoins valued at approximately $468,675” to cold wallets the exchange cannot currently access.

Major Canadian crypto exchange QuadrigaCX accidentally transferred nearly $500,000 in Bitcoin (BTC) to its cold wallets earlier this month, according to a report published by Ernst & Young on Feb. 12.

The founder of QuadrigaCX, 30-year-old Gerald Cotten, died in December 2018. The exchange has been unable to access its cold wallets since, as Cotten was solely responsible for the wallets and corresponding keys.

The vast majority of Quadriga’s assets were reportedly lost in the missing cold wallets. In the beginning of February, it was reported that Quadriga is missing CA$190 million dollars ($145 million) in digital assets.

The exchange previously appointed ‘Big Four’ audit company Ernst & Young as an independent third party to monitor…

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2019-02-13 01:00:00

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Written by Cointelegraph

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