Reddit Users Claim That QuadrigaCX Bitcoin Withdrawals Came From Other Exchanges

Reddit users analyzed past Bitcoin (BTC) withdrawals from the QuadrigaCX cryptocurrency exchange.

Reddit users analyzed past Bitcoin (BTC) withdrawals from the now-defunct QuadrigaCX cryptocurrency exchange in a post published on April 10, finding that some came from other exchanges.

The Reddit users claim that of the withdrawal transactions that they analyzed, one came from a HitBTC hot wallet and the other one from a Bittrex hot wallet.

The users write that before they realized that the addresses are owned by exchanges, they found that some of the addresses appear on multiple High Yield Investment Programs (HYIP), amatorial ransomware research and a post concerning lost funds by another Reddit user.

Further examination suggests that this means that people sent funds from exchanges to HYIP Ponzi schemes, and that hackers attempted to cash in money earned with ransomware through those exchanges.


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2019-04-11 17:08:00

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Written by Cointelegraph

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