Quadriga CEO death, Is it new scam in crypto

[Yakamoto]

That's just the hopium talking. Money is stolen. Guy goes to part of India known for fake death certificates. Does his will weeks before his "death" and transferred 15 properties to his wife before he died. And he left 100k to his fucken dogs. Wife is currently transferring properties to a trust in an attempt to separate them from the creditors (the users)

Also upon further chain analyse it looks like there was tremendous efforts to obfuscate the wallet addresses by dispersing funds and parking.

And to top it off CIBC only froze their account because Jose Reyes transfer over a million into his personal account. CIBC froze the account because they sketched out. And They kept contacting the now "dead" ceo. and he kept ignoring them. Making the account stay frozen longer. This happen months before he "died"

I never heard about all of this other stuff happening, that's pretty indicative of some top-tier bullshit. If anything, I'm more impressed that he had so much money behind him, or at least enough for 15 properties, because if I remember correctly Quadriga was based out of Vancouver, or at least had some office there. Their website shows Nova Scotia being involved, though, so I don't know. 15 properties in NS wouldn't be as surprising as 15 in Vancouver.

Ah well, it was one of the few decent exchanges in Canada while it lasted. Now, I don't know who's actually a decent exchange and I'd rather stay away from localbitcoins, at least as long as I can. Maybe Kraken will be the solution, but I'll have to dive deeper into it to find out. Not surprised this happened, I had a feeling the good times were going on for too long.

[rdbase]

Thank you for pointing out this and it is good we should used the search engines to find out if the topic we are trying to create has been created before and that will reduce spamming and overload the forum with nor relevant posts or duplicating posts.

Sure there are but both those thread were basically not active any longer because no recent news came out from the last post for each of them since about a month ago march 21st and 29th. So nobody really wants to post anymore on those since this one clearly says the death of the ceo in relation to the exit scam. Which makes it more of a mystery then just another exchange going bankrupt or stealing all the customers funds and running.

That's just the hopium talking. Money is stolen. Guy goes to part of India known for fake death certificates. Does his will weeks before his "death" and transferred 15 properties to his wife before he died. And he left 100k to his fucken dogs. Wife is currently transferring properties to a trust in an attempt to separate them from the creditors (the users)

Also upon further chain analyse it looks like there was tremendous efforts to obfuscate the wallet addresses by dispersing funds and parking.

And to top it off CIBC only froze their account because Jose Reyes transfer over a million into his personal account. CIBC froze the account because they sketched out. And They kept contacting the now "dead" ceo. and he kept ignoring them. Making the account stay frozen longer. This happen months before he "died"

I never heard about all of this other stuff happening, that's pretty indicative of some top-tier bullshit. If anything, I'm more impressed that he had so much money behind him, or at least enough for 15 properties, because if I remember correctly Quadriga was based out of Vancouver, or at least had some office there. Their website shows Nova Scotia being involved, though, so I don't know. 15 properties in NS wouldn't be as surprising as 15 in Vancouver.

Ah well, it was one of the few decent exchanges in Canada while it lasted. Now, I don't know who's actually a decent exchange and I'd rather stay away from localbitcoins, at least as long as I can. Maybe Kraken will be the solution, but I'll have to dive deeper into it to find out. Not surprised this happened, I had a feeling the good times were going on for too long.

It is funny you mention about them based in another location then where the website shows them having been.
After watching a news clip of the owners partner of another project they had before this exchange existed it was said he was from nova scotia as well. But he moved to another place once his company became more successful and to gather more customer recognition after relocating.
I'll have to find this news report and post it here once I do because right after they broadcasted it I did a search but could not find it.

[lyks15]

There is a big possibility that it is clearly scam. And the CEO are having a fake death news so he can have lot of money or crypto investment without any liability. This is one of the big disadvantage of not decentralized industry . Imagine if there is an KYC all the people here in crypto even investor or people behind crypto activity we will not have experiene like that.

[rdbase]

His friend and partner for one of their projects did an interview for their local news broadcast.
Adam o'brien says he is most likely dead and there were no foul play involved but the customer funds are more then likely non retrievable even if they have the laptop where the private keys are located.
https://globalnews.ca/news/5184346/quadrigacx-friend-cryptocurrency-mystery
He was located in nova scotia but moved to alberta and started a company called bitsolutions according to the news report.

[okala]

This is truly another exit scam how can he be the only holder of the wallet private keys is there no other team member working with the exchange, I don't have any further information about the case but I can be bold to say that this another exit scam from the crypto exchange CEO.

[pushups44]

That's just the hopium talking. Money is stolen. Guy goes to part of India known for fake death certificates. Does his will weeks before his "death" and transferred 15 properties to his wife before he died. And he left 100k to his fucken dogs. Wife is currently transferring properties to a trust in an attempt to separate them from the creditors (the users)

Also upon further chain analyse it looks like there was tremendous efforts to obfuscate the wallet addresses by dispersing funds and parking.

And to top it off CIBC only froze their account because Jose Reyes transfer over a million into his personal account. CIBC froze the account because they sketched out. And They kept contacting the now "dead" ceo. and he kept ignoring them. Making the account stay frozen longer. This happen months before he "died"

Wow. I am going to have to look deeper into this. If all of the above is true, this can be turned into a documentary. This would be quite an elaborate scam - faking one's death to steal customer funds. It would seem that going into hiding for the rest of your life would be more trouble than it's worth.

[Moiyah]

Actually, there are many  gossips that Quadriga isn't really dead and that they are just looking for a way to escape withe the money. It may be possible of a new way to scam people. But whatever it is, users can not take a back their funds and that's the sorrowful and downcast part of it.

[Herbert2020]

Actually, there are many  gossips that Quadriga isn't really dead and that they are just looking for a way to escape withe the money. It may be possible of a new way to scam people. But whatever it is, users can not take a back their funds and that's the sorrowful and downcast part of it.

unlike in the movies, in real life it is not easy to "fake" your death specially when the authorities are involved and you would be breaking the law which is a punishable act. besides, this news is already too old and in this case we are talking about bitcoin and similar cryptocurrencies which have transparent blockchains which means if the coins move it will become obvious that they had access to the keys and were lying about it. that has not happened yet.

[CryptoBry]

There is a big possibility that it is clearly scam. And the CEO are having a fake death news so he can have lot of money or crypto investment without any liability. This is one of the big disadvantage of not decentralized industry . Imagine if there is an KYC all the people here in crypto even investor or people behind crypto activity we will not have experiene like that.

This is also showing us that maybe the laws covering this industry can easily be played around so that anybody can fake his death and continue have access to the wallets where the crypto-funds are located. Since the transactions are public, they can easily be traced and be known (a big advantage with the public blockchain). Maybe we need stricter laws on this aside from the advantages of using decentralized exchanges. There must be insurance in placed that customers of exchanges can avail in case of fraud or bankruptcy and all exchanges should have one available to their members even on voluntary basis (as additional protection).

[Harris Stevens]

Unfortunately these type of people exploit the faith the in people of buying bitcoins and other cryptocurrencies and it seems to be a legitimate fraud as death certificate in india can be bought.

[teddyelwyn]

Did you read the ciphertrace q1 report that was circling the internet last week? It's wild to see what else they caught https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

[romero121]

Anything happening associative with cryptocurrency will be seen with an eagle eye. In such a way is the issue with Quadriga exchange, different people have come up with different thought process on the death of the CEO. If this issue wasn't relative to cryptocurrency then it could have never been this big because with bitcoins scams were common and people try as many ways to scam others. When the fund that's been lost is big, this will be viewed considering more factors.

[Mpamaegbu]

Once again it proved that you cannot keep your money in exchange. It is another debate whether the CEO is faking death or he had really died.
I am feeling sorry for the people who lost money.

Why would someone want to fake their own death in a world of great technological advancement? I doubt this is likely because the CEO will be sniffed out if that were the case. However, what this has come to confirm (after we witnessed the death of another exchange CEO last year) is that exchanges aren't the best of places to keep one's Cryptos. Own your cryptos yourself by keeping them in wallets you control the Private Keys. Imagine if this happens to the CEO of Binance?

[RapTarX]

I doubt his death is fake. I have read some of the news on it. However, although it is a mysterious case, some says there's no death certificate found, I guess he has died. It will not be a huge hassle to trace the fund in future. So, he would barely do that.

[r1s2g3]

Once again it proved that you cannot keep your money in exchange. It is another debate whether the CEO is faking death or he had really died.
I am feeling sorry for the people who lost money.

Why would someone want to fake their own death in a world of great technological advancement? I doubt this is likely because the CEO will be sniffed out if that were the case. However, what this has come to confirm (after we witnessed the death of another exchange CEO last year) is that exchanges aren't the best of places to keep one's Cryptos. Own your cryptos yourself by keeping them in wallets you control the Private Keys. Imagine if this happens to the CEO of Binance?

You guys are missing few key points here.

1.Canadian citizen was in visit to India.
2.Dead body was never been back to Canada.
3.Instead they acquired death certificate from one of the state in India.
4. It is not impossible in India to get your death certificate even when you are alive.
5. He did not planned any "backup continuity plan" for the company but he planned everything for his family just couple of months before his alleged death.

[ene1980]

You guys are missing few key points here.
1.Canadian citizen was in visit to India.
2.Dead body was never been back to Canada.
3.Instead they acquired death certificate from one of the state in India.
4. It is not impossible in India to get your death certificate even when you are alive.
5. He did not planned any "backup continuity plan" for the company but he planned everything for his family just couple of months before his alleged death.

He might have faked his death and took a fake death certificate from India, but how about staying in India as he is not a citizen and he needs to get a permit to stay in India and since this has become a big enough case and attained some publicity, i am not sure how he will be able to hide that fact and stay in another country.
Yes there are some activities before his death that will raise suspicion and the company has forwarded coins in the cold wallet even after his death which creates another puzzle.

[Mr.Ease]

You guys are missing few key points here.
1.Canadian citizen was in visit to India.
2.Dead body was never been back to Canada.
3.Instead they acquired death certificate from one of the state in India.
4. It is not impossible in India to get your death certificate even when you are alive.
5. He did not planned any "backup continuity plan" for the company but he planned everything for his family just couple of months before his alleged death.

He might have faked his death and took a fake death certificate from India, but how about staying in India as he is not a citizen and he needs to get a permit to stay in India and since this has become a big enough case and attained some publicity, i am not sure how he will be able to hide that fact and stay in another country.
Yes there are some activities before his death that will raise suspicion and the company has forwarded coins in the cold wallet even after his death which creates another puzzle.

You don't know 

Pretty sure when you have like 100mill... Those problems tend to disappear quite fast. Like permits, certificates, new identity.. yeah, doubt thats much of an issue.

[jak3]

ok, this started to smell fishy, there is no real proof of his death even than death certificate was not shown. sorry, but I know saying anything about someone's death is the worst thing but there is a huge sum of money involved and the problem is not about some private key lockage. it's recoverable so why not they are refunding the funds are giving any note to the users.

[TimeBits]

https://www.investinblockchain.com/is-quadriga-ceo-actually-dead-or-140-million-exit-scam/

Once again it proved that you cannot keep your money in exchange. It is another debate whether the CEO is faking death or he had really died.
I am feeling sorry for the people who lost money.

just saying this has the governments and bankers finger prints all over it. also p2p trading is here ^_^ try it

[rmilly]

Ciphertrace claimed that it was indeed a exit scam in their latest report https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/