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Author Topic: Unofficial Quadriga Cx Thread  (Read 24297 times)
kenzawak
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February 07, 2019, 03:25:49 PM
 #81

https://coingape.com/quadrigacx-update-jaipur-hospital-shared-death-reports-shared-demise/

"The hospital has released the details on the demise of CEO – as the death of a man sends QuadrigaCX exchange into chaos. According to the details shared by Hospital, he was admitted to Fortis Private hospital on Dec 08, 2018 at 9:45 p.m. IST and died at around 7:26 p.m. IST the next day on Dec 09, 2018 due to cardiac arrest. Eventually, the exchange CEO lasted less than a day in Fortis Hospital. Reportedly, he was also suffering from Crohn’s Disease. Doctors also diagnosed septic shock, peritonitis, perforation, and intestinal obstruction."
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February 08, 2019, 08:36:49 AM
 #82

According to following article, region where Ceo died is known for its 'fake death' mafia : https://www.newsbtc.com/2019/02/06/ceo-who-held-150m-in-crypto-died-in-a-region-known-for-having-a-fake-death-mafia/Roll Eyes

'research found that people wanting to run away from debts or personal responsibilities have gone to the lengths of faking their deaths.'
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February 10, 2019, 06:20:14 AM
 #83

I've been reading any story that comes out and seems to at least have something new to offer.

https://www.cbc.ca/news/canada/british-columbia/quadriga-gerald-cotton-friends-react-to-his-death-in-india-michael-patryn-canada-cryptocurrency-creditors-1.5009625

This one has an interview with his former Quadriga business partner Michael Patryn - He also addresses the claims about him being that other dude a little. What I found to be interesting was his certainty that it would alll be sorted out by a posthumously sent message. I'm not positive the best way to arrange something like that securely with their apparent 1 person controls it all business model - as in who/what do you trust to hold this in the first place.

My real issue with the theory is why would it take so long. Barring whoever would receive this message just exit-scamming, why would it take this long after the death to deliver the message. This isn't like someones private wallet, this is a business handling massive amounts of investment.



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gentlemand
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February 10, 2019, 01:30:47 PM
 #84

My real issue with the theory is why would it take so long. Barring whoever would receive this message just exit-scamming, why would it take this long after the death to deliver the message. This isn't like someones private wallet, this is a business handling massive amounts of investment.

'But Heartline has faith. He said Cotten will send a password posthumously.

He believes Cotten had a plan.'

Why would a professional operation need to resort to 'thoughts and prayers' and hoping the stupid slut had a wonderful surprise in place?

The article emphasises his long time commitment to crypto and how he was 'not like the others'. He's been quoted in the past as saying they operated with multi sig. I don't see how you can be in crypto that long and choose to roll back your security practices, a million times more so when it's not your money anyway.
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February 10, 2019, 11:02:42 PM
 #85

My real issue with the theory is why would it take so long. Barring whoever would receive this message just exit-scamming, why would it take this long after the death to deliver the message. This isn't like someones private wallet, this is a business handling massive amounts of investment.

'But Heartline has faith. He said Cotten will send a password posthumously.

He believes Cotten had a plan.'

Why would a professional operation need to resort to 'thoughts and prayers' and hoping the stupid slut had a wonderful surprise in place?

The article emphasises his long time commitment to crypto and how he was 'not like the others'. He's been quoted in the past as saying they operated with multi sig. I don't see how you can be in crypto that long and choose to roll back your security practices, a million times more so when it's not your money anyway.


Well if it is an exit scam, this is their first one, could have just walked away and had it be a hunting mission to find them in India lol.

That said if he did have a posthumous deadman switch, it would raise a good question of how long the delay is before it sends a backup wallet password, and due to the liquidity issues prior to the collapse, and will being made 10 days before death how much is really in the exchange as it could well be a fractional reserve.

On a lighter note.
(His pet chihuahuas — Nitro and Gully — would get a $100,000 trust fund for lifelong care.) Really ... I would adopt those chihuahuas and take good care of them for that fund Cheesy

(cough or lawsuit those chihuahuas lol)



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February 11, 2019, 07:08:48 AM
 #86

The issue I find with the cold storage wallets is this. Say we are talking about BTC.

The CEO could of used something such as Electrum for cold storage and with a single seed been able to generate thousands of BTC addresses. And every few hours he could of sent random amounts of BTC to each and every address in his wallet. He could of also made some addresses have more than 1 transaction, and these addresses could all contain less than <10 BTC each.

This is not hard to do but seems tedious and unless in one transaction he combines all his addresses into a single transaction, its impossible to tell they are linked because its very possible that many customers made withdraws from Quadriga into their cold storage and left it there sitting.

If so, he could be spending these BTC for the next 50 years and it would be very difficult to prove.

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gentlemand
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February 11, 2019, 08:07:48 PM
 #87

https://www.bloomberg.com/news/articles/2019-02-09/software-engineer-loses-life-savings-in-quadriga-imbroglio?utm

Here's a face to put to it all. I feel bad for him, but at the same time... holy sheeyit. Especially since it's had such long standing problems before this latest madness.

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February 12, 2019, 07:50:17 AM
 #88

https://www.bloomberg.com/news/articles/2019-02-09/software-engineer-loses-life-savings-in-quadriga-imbroglio?utm

Here's a face to put to it all. I feel bad for him, but at the same time... holy sheeyit. Especially since it's had such long standing problems before this latest madness.



I feel bad for him too but I see a few holes in his story.

He was basically a Canadian but he got a job somewhere in the USA. He has been saving up the entire time. So instead of just writing himself a check for his USD savings depositted into a Canadian account, he wanted to save the 2% forex fee so he decided to buy BTC with all his USD savings, sent it to Quadriga, sold it for Canadian dollars and made a withdraw?

Sure he can save maybe 1.5% or so after trading fees and withdraw fees and such, however BTC is very volatile and could easily gain or drop 5-10% in value very fast. Why risk it to save 1.5%?

He is also a software engineer and most software developers are usually very careful and don't take risks like this especially over something as volatile as BTC.

I Think he lost the funds on his QuadrigaCX account but its most likely not all his savings but a part of them. Because why would you put 100% of all your savings into an exchange?

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gentlemand
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February 12, 2019, 03:53:23 PM
 #89

You can be a software engineer and still be gullible and shit with money. I don't see what's in it for him to make it up but it looks bizarre from all angles.
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February 12, 2019, 11:44:20 PM
 #90

You can be a software engineer and still be gullible and shit with money. I don't see what's in it for him to make it up but it looks bizarre from all angles.

I don't think he made up losing the money, but I don't think its his entire life savings. He most likely made the interview so if there is some rehabitation period he might be one of the first few to get his money back or he did it for fame.

Because it doesn't make sense to put all your savings in something that can be lost in essentially a virus or forgetting a private key. Maybe if he was going to save 10-20% in bank fees then I would understand but not worth taking this risk just for 1% savings.

Also he could of just sent it in parts, sold it, withdrew, and when he got confirmation of the deposit in his bank account, he could of done the next batch.


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February 12, 2019, 11:45:12 PM
Last edit: February 13, 2019, 12:07:47 AM by freedomno1
 #91

https://www.cbc.ca/news/business/quadrigacx-cryptocurrency-1.5016684 (Idiots)

More than $400,000 in QuadrigaCX cryptocurrency disappears into 'cold wallet'
Ernst and Young says QuadrigaCX 'inadvertently' transferred 103 bitcoins to encrypted offline storage devices

--
The court-appointed monitor overseeing the search for the $260 million owed to clients of the QuadrigaCX cryptocurrency exchange says it recently found more than $900,000 in digital assets — only to see more than half of it escape its grasp.

The bizarre turn of events was revealed Tuesday in the first court report from Ernst and Young, which was appointed as monitor on Feb. 5, when the Nova Scotia Supreme Court granted the insolvent company protection from its creditors.

The report says Ernst and Young learned last week that QuadrigaCX was holding $902,743 in bitcoin, litecoin and ether cryptocurrencies in so-called hot wallets — but something went wrong on Feb. 6.

The monitor's report says QuadrigaCX "inadvertently" transferred 103 bitcoins valued at $468,675 to what are known as cold wallets, which the company is now unable to access.



(Also forgot to add Gerald Cotten's Last Will and Testament) Tried to find a source for the will and couldn't anymore it went dark the docdroid in this thread.
Interested parties backup and download if needed.

Document: Last Will and Testament of Gerald Cotten November 27, 2018
https://www.docdroid.net/wYxaOnX/gerald-cotten-will.pdf

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stomachgrowls
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February 13, 2019, 01:39:11 AM
 #92


The monitor's report says QuadrigaCX "inadvertently" transferred 103 bitcoins valued at $468,675 to what are known as cold wallets, which the company is now unable to access.[/b]

This is why this QuadrigaCX issue is always been suspicious with those transfers alone you can already make such conclusion that all of these things

are bullsh*t drama.They are trying to wash their hands now as if they wont be questioned on all possible angles had been found.I wont really even believe

than someone didnt able to get those keys.


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freedomno1 (OP)
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February 13, 2019, 02:42:23 AM
 #93


The monitor's report says QuadrigaCX "inadvertently" transferred 103 bitcoins valued at $468,675 to what are known as cold wallets, which the company is now unable to access.[/b]

This is why this QuadrigaCX issue is always been suspicious with those transfers alone you can already make such conclusion that all of these things

are bullsh*t drama.They are trying to wash their hands now as if they wont be questioned on all possible angles had been found.I wont really even believe

than someone didnt able to get those keys.



If QuadrigaCX is telling the truth they need to prove the cold wallet address.
If there are funds in there then we can track a real cold wallet since it still hasn't been documented.

On the Cash Side (Need to track those cheques asap)

-
According to Robertson, one of those processors has five bank drafts worth $25.2 million.

However, Ernst and Young confirmed it has yet to receive any funds from those businesses.

“It may be necessary for the applicants (QuadrigaCX) and monitor to return to the court for additional assistance in … securing the return of funds from third party payment processors,” the report says

https://business.financialpost.com/pmn/business-pmn/more-than-400000-in-quadrigacx-cryptocurrency-disappears-into-cold-wallet

(Hopefully reverse a wire ...)

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February 13, 2019, 10:03:44 PM
 #94

I'm still confused how they had access to or the chance to transfer any BTC at that time.

Was the 5th not the date they were to hand everything over??

It looks more and more like a Mickey Mouse operation every time. What did they have passwords saved on their company laptop, with form filled address data... oopsie I slipped and punched in 103 and "enter". I can't think of any valid reason they should have been moving funds anyways, operations ceased what 10 days prior... well longer with the website down.



In regards to Mr. Zou.

Who the fuck waits 4 months to begin demanding your cash?? I had a withdrawal get delayed in November, got on there case and it showed up a few days later. My December withdrawal I quashed and re bought BTC as I needed it for a purchase. This was when I got lucky, even though it was about 250$ I'd have hated to lose it. That one I chalked up to Christmas delays. If I were this guy there would have been lawyers involved within on the 15th business day. This would have at least happened before the CEO died.

Hopefully he at least gets some back, just a shitty way to learn that lesson.


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February 13, 2019, 10:56:13 PM
 #95

I'm still confused how they had access to or the chance to transfer any BTC at that time.

Was the 5th not the date they were to hand everything over??

It looks more and more like a Mickey Mouse operation every time. What did they have passwords saved on their company laptop, with form filled address data... oopsie I slipped and punched in 103 and "enter". I can't think of any valid reason they should have been moving funds anyways, operations ceased what 10 days prior... well longer with the website down.



In regards to Mr. Zou.

Who the fuck waits 4 months to begin demanding your cash?? I had a withdrawal get delayed in November, got on there case and it showed up a few days later. My December withdrawal I quashed and re bought BTC as I needed it for a purchase. This was when I got lucky, even though it was about 250$ I'd have hated to lose it. That one I chalked up to Christmas delays. If I were this guy there would have been lawyers involved within on the 15th business day. This would have at least happened before the CEO died.

Hopefully he at least gets some back, just a shitty way to learn that lesson.


He likely didn't know better which is even worse, I mean if he thought their office was in Vancouver and moved there only to find it did not exist to complain then a few months later due to this court realized that the real operations was in Nova Scotia I would be pretty screwed over to.

I agree hopefully he gets some back, I saw some Canadian exchanges on Linkedin want to get in touch with him, not sure why though maybe a job offer given his skillset.

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February 14, 2019, 01:00:33 AM
 #96

I'm still confused how they had access to or the chance to transfer any BTC at that time.

Was the 5th not the date they were to hand everything over??

I'm not sure how that was supposed to work. Was Ernst and Young really supposed to take custody of the cryptocurrency wallets? A law firm holding bank accounts in trust/escrow is one thing. Holding bitcoin wallets is another.

Those were the hot wallet coins, so given that the site is indefinitely shut down and no customers will be withdrawing anytime soon, it made sense to move them to cold storage. Cold storage that could actually be accessed, that is. Roll Eyes

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February 14, 2019, 06:00:54 PM
 #97

Court Case Today
It will be Interesting to see court reactions to we lost another $500,000 in legal sense.
https://globalnews.ca/news/4960203/case-of-cryptocurrency-firm-quadrigacx-to-return-to-a-halifax-courtroom/
https://www.cbc.ca/news/business/quadrigacx-1.5019176

On a sidenote Gofundme was made for the guy
https://www.gofundme.com/f/tong-zhou-relief-fund

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February 14, 2019, 06:16:45 PM
 #98

Was Ernst and Young really supposed to take custody of the cryptocurrency wallets? A law firm holding bank accounts in trust/escrow is one thing. Holding bitcoin wallets is another.
Those were the hot wallet coins, so given that the site is indefinitely shut down and no customers will be withdrawing anytime soon, it made sense to move them to cold storage. Cold storage that could actually be accessed, that is. Roll Eyes

Yeah I'm not sure on the specifics of it all. I personally would have expected all control of known private keys/passwords, for any wallet associated to Quadriga to have been handed over. I don't see it as any different than bank accounts or physical assets. I assume that Ernst and Young had been selected for this role hopefully to having a high level of understanding of the crypto world in general. So no one from Quadriga should have had the opportunity or the means to move any coins around.

Who knows though assumptions do have a way of failing me at times.

On a sidenote Gofundme was made for the guy
https://www.gofundme.com/f/tong-zhou-relief-fund

Hopefully this isn't the next gofundme scam... man I'm getting cynical.


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February 14, 2019, 08:50:12 PM
 #99

On a sidenote Gofundme was made for the guy
https://www.gofundme.com/f/tong-zhou-relief-fund

If it's true then that is one of the dimmest courses of action I've read about in recent years in relation to cryptoland. I sure as hell would not subsidise such utter stupidity.
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February 16, 2019, 09:35:04 AM
 #100

On a sidenote Gofundme was made for the guy
https://www.gofundme.com/f/tong-zhou-relief-fund

If it's true then that is one of the dimmest courses of action I've read about in recent years in relation to cryptoland. I sure as hell would not subsidise such utter stupidity.

The one who made the Gofundme page is Matthew Whitcomb, who has worked at both Coinsquare and the Romanian BTR Exchange funded on Bnktothefuture
They both serve Canadian clients I'll verify a real human behind this campaign.

On the part about subsidizing via gofundme true that.

I feel the orphanage in India needs it, the story of a lucrative crypto exchange owner going to a foreign country to fund an orphanage, spending ridiculous amounts of money on themselves and leaving behind an orphanage in crippling debt, feels like something that deserves sympathy.

https://bnktothefuture.com/pitches/bitcoin-romania

From Jack Jillian
The Game of Thrones Lawyers Edition is on standby until February 22nd
https://twitter.com/JackJulian


-
The Globe and Mail went to investigate the orphanage Cotten sponsored and his death, the story verified he died.

Unless he went and faked his symptoms tricking doctors, then replaced himself with a body double it all adds up he died of natural causes, the evidence presented to deem his death is non-suspect.

GlobeandMail Article (Paywall)
https://www.theglobeandmail.com/world/article-how-did-gerald-cotten-die-a-quadriga-mystery-from-india-to-canada/
Same Article No Paywall Link
https://outline.com/MS67gd

Excerpt:

The couple only planned to spend two hours of a weeks-long honeymoon at the orphanage they had paid to build – though their donation was insufficient to equip the home with doors, even to its bathroom, and leaves the man caring for the orphans in crippling debt.


The Globe’s reporting reveals a man with an appetite for luxury, who, together with his new wife, spent as if money was no object.

“The guy had more money than he knew what to do with,” said Eric Schletz, who got to know Mr. Cotten at a small flying club in Nova Scotia. “I’ve seen Gerry walk through an airport with $50,000 in cash. That’s the scale of money the guy had. He was a very reasonable person. But if he was going to spend the money, he was going to buy something nice.”

In India, that included stays at some of the finest accommodations, on a tour that would be the envy of most travellers.

Documents gathered by The Globe show that the couple arrived in New Delhi on Nov. 30, entering the country on tourist visas. An image posted to Instagram shows the couple beaming at the Taj Mahal in Agra, one of the country’s best-known attractions. They also spent time in Varanasi, the ancient city on the banks of the Ganges that is one of Hinduism’s holiest sites.

On Dec. 8, they landed in Jaipur.

They planned to spend four nights in the city, according to their booking with the Oberoi, which sent an Audi Q7 to the airport to pick them up, according to e-mails obtained by The Globe. A hotel built as a modern-day palace, the Oberoi was ranked the second-best resort hotel in the country last year by Travel + Leisure, outranking even the city’s actual palace, the Rambagh, where Jacqueline Kennedy once stayed.

Ms. Robertson had booked a deluxe room at $923 a night (the Oberoi does not accept bitcoin for payment). Asked by the hotel to specify if they were travelling for a special occasion, she wrote: “Our honeymoon.”

...
But Mr. Cotten’s involvement here has been a mixed blessing. Mr. Cherukupalli is a Christian pastor who began to care for local orphans two years ago, buying a tract of land and erecting a temporary shelter.

“My wife and I both had the same dream – to do something for orphans and give our lives in service,” he said. He took on debt to build the small orphanage, but the monthly payments were manageable.

Then, through another pastor, he was asked if he would be interested in becoming involved with Angel House, which promised a concrete structure that wouldn’t leak when it rained.

He accepted. Unknown to him, the Angel House donation came from a Canadian cryptocurrency entrepreneur.

Mr. Cotten’s money, however, did not buy an orphanage. It bought materials, but Mr. Cherukupalli had to arrange the construction himself. And the materials were insufficient – there was enough for walls and furnishings, but not enough to complete the roof, equip the kitchen or install interior doors. Mr. Cherukupalli began to accumulate more debt as he secured labour and additional materials. The orphanage is still missing seven doors – including one to its bathroom – because he does not have the money.

He now owes almost $11,000, equivalent to seven years of average income. The monthly payments have gotten so high that he has quit trying.

Mr. Cotten’s donation “provided materials. That’s a good thing, and it’s good for the kids,” Mr. Cherukupalli said. “But financially, I have gone under. And I’m suffering.”


He has also yet to receive the stuffed bears that Ms. Robertson had brought for the grand opening. She left them at the Oberoi with instructions that they be shipped to the orphanage.

Still, for Ms. Robertson, the existence of Jennifer Robertson & Gerald Cotten House seems to have provided some solace.

In mid-January, she sent an e-mail to Angel House, saying she hoped she could still visit the orphanage one day and acknowledging receipt of some pictures from Venkatapuram.

They “are lovely,” she wrote. “It helps me feel better knowing my husband helped these children before he died.”

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