Ernst&Young Discloses Reimbursement Information to QuadrigaCX Clients

Ernst company&Young (EY), Terling Closing Cryptocurrency Exchange Quadrigacx, reported, that can satisfy user claims only on $29.8 Milln from $171 million.

According to the information, filed by the Supreme Court Ontario 6 November, EY received 17 053 wants From customers of the closed Canadian exchange of Quadrigacx. Former customers of the site made claims for a return almost 90.2 Mill of Canadian dollars, $6 million, as well as 24 427 BTC, 65 457 ETH, 87 031 LTC, 7 723 BCH, 17 934 Btg and 7 098 BSV. The total amount of claims for current courses is about $171 million.

Recall, that Quadrigacx stopped activities under mysterious circumstances. According to official information, Founder of Exchange Gerald Kotten (Gerald Cotten) suddenly died in December 2018 of the year, but 28 january 2019 years the exchange has gone offline. In April, Quadrigacx was declared bankrupt, A month later, the court temporarily released the exchange from the persecution of creditors.

Last summer it became known, that Kotten used the money of customers for personal trading on other exchanges, And at the beginning of this year, Quadrigacx clients demanded the exhumation of the body of the founder of the exchange.

Ey notes, that Kotten, After the death of which access to closed keys of the exchanges was lost, traded using funds 76 000 customers of the site, which led to the inconsistency between the assets and passions of the exchange. At the moment, EY is at his disposal $29.8 million, received from the sale of cottage assets, as well as transfers from his widow and a third -party payment company, whose services used the exchange.

The trusting manager plans to convert all available assets to Canadian dollars and distribute money to users in cryptocurrency rates or on 15 april 2019 of the year, when Quadrigacx announced bankruptcy, or on 5 february 2019 of the year, when users were blocked to access to the exchange. EY appealed to the court with a request to determine the date of the exchange rate.