The year’s biggest blockchain mystery of lost funds of QuadrigaCX exchange is much similar to the mystery behind the identity of Satoshi Nakamoto. However, the latest report reveals that the died CEO of the exchange, Gerry Cotton used to store millions of funds in multiple exchanges as a means of storage.
QuadrigaCX’s Ethereum Storage Funds
As per the report published on zerononcense which was curated by its CEO in collaborative information gathered from Jesse Powell from Kraken exchange and Taylor Monahan from MyCrypto. It reportedly reveals that Mr.Cotton possibly be storing significant funds in Ethereum (ETH) at Kraken, Bitfinex and Poloniex exchange. In fact, the analysis on transactions unveils that the almost 600,000+ ETH was transferred to these exchanges as a means of storage. This appears to be at the time when QuadrigaCX began operating ETH trading on its platform. Nonetheless, no other transactions after Dec 9 cannot be found with QuadrigaCX exchange account associated with these exchanges. A note from the report reads that;
Altogether, a cumulative 649,708 Ethereum was sent to Kraken, Bitfinex, and Poloniex directly by QuadrigaCX, which was worth a total of $100,490,150 at the time of transfer.
Furthermore, it believes that neither the CEO’s widow nor any person relating to the matter aware about Cotton’s act of transferring money to these exchanges – this made quite clear that except Cotton, no other person are and were aware of the funds concerning the exchange.
Nevertheless, the discovery of these fund made possible due to the fact that it had transferred to these exchanges – and author of the report presented it in collaboration with the founders of these trading platforms. Perhaps, funds beyond these exchanges such as ‘in any cold wallet’ or any reserve cryptocurrency’ cannot be discovered because no other person except Cotton knows this.
Further the author shared belwo wallet address belong to QuadrigaCX, definitively;
3. 0xb6aac3b56ff818496b747ea57fcbe42a9aae6218 (current hot wallet)
4. 0x027beefcbad782faf69fad12dee97ed894c68549 (former hot wallet)
On top of all, its worth to note that the earlier statement of Cotton’s wife ‘Jennifer Roberston’ states that ‘Gerry Cotton may have stored some funds of exchange on other exchanges – which turned as the basis or findings for this report. It cannot go unnoticed that creditors are empty-handed after Cotton’s death and based on these findings, QuadrigaCX’s creditors are likely expecting a positive move from Kraken, Bitfinex and Poloniex exchanges to redistribute funds to them.
Kraken Began Bounty – Favoring Tips to Reveal QuadrigaCX’s Mystry
As a move, Jesse Powell rolled an announcement of bounty and stated on Twitter and the official blog that he would offer $100.000 to anyone who helps solve this mystery. The blog concerning the bounty for QuadrigaCX lost token reads that any tips as a solution will also be shared with the law enforcement – and later the reward for the tip would be paid out in fiat or cryptocurrency.
Kraken is giving up to $100,000 USD (fiat or crypto) as a reward for the tip(s) that best lead to the discovery of the missing $190 million US dollars. Can you help us unravel the Curious Case of Cotton's Coins?https://t.co/BurmEMKVku
— Kraken Exchange (@krakenfx) February 28, 2019
After reviewing the episodes, do you know where the missing client funds are? Do you know anyone who may know something that can help law enforcement locate the funds?. The Blog continued, If so, let us know and we’ll pass your tips on to law enforcement. Kraken is giving up to $100,000 USD (fiat or crypto) as a reward for the tip(s) that best lead to the discovery of the missing $190 million US dollars.
So peers, do you have any tips to send out to Kraken exchange, if so, you can submit it here (Submit to Kraken) and let us know what’s your view on findings revealed in concerning the mystery of QuadrigaCX exchange? Share your thoughts
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com