Canadian cryptocurrency exchange QuadrigaCX seeks creditor protection after founder's

MrRoboto · 02-06-2019, 08:12 AM

Have any of you been following this story? Sounds fishy to me.

https://www.cbc.ca/news/business/qua...ency-1.5005236

Grumpy Old Man · 02-06-2019, 08:17 AM

I've been watching this story and was going to post it to the thread on Crypto.....I have no interest in putting any money into this, and that was before this happened. What a mess.

detroitm2 · 02-06-2019, 08:32 AM

Quote:

Originally Posted by MrRoboto

Have any of you been following this story? Sounds fishy to me.

https://www.cbc.ca/news/business/qua...ency-1.5005236

Its difficult to hide any wrongdoing here. the founder died, and took with him, the keys to the vault so to speak. Fortunately, as with any crypto asset, the vault has a huge window in the front that anyone can see into. If the funds do still exist in cold storage, someone would just need to know the address to verify it.

Not saying its not BS, but saying if it was, it would be nearly impossible to hide from the public

MrRoboto · 02-06-2019, 08:32 AM

Quote:

Originally Posted by Grumpy Old Man

I've been watching this story and was going to post it to the thread on Crypto.....I have no interest in putting any money into this, and that was before this happened. What a mess.

I'm not convinced the guys is even dead and/or the whole things was a sham. He filed his will 12 days before his death?

I would bet we will see more strict regulation around cryptocurrencies after this.

Grumpy Old Man · 02-06-2019, 08:36 AM

Quote:

Originally Posted by MrRoboto

I'm not convinced the guys is even dead and/or the whole things was a sham. He filed his will 12 days before his death?

I would bet we will see more strict regulation around cryptocurrencies after this.

Could be, from his pic he looks or looked young and healthy. Died in India in December, could be a fraud.

MrRoboto · 02-06-2019, 08:37 AM

Take a look at this.

detroitm2 · 02-06-2019, 08:43 AM

Quote:

Originally Posted by MrRoboto

Take a look at this.

Interesting.

The bit about not disclosing their cold storage accounts is fairly common from what I've seen. But yeah, I'm on board with the "fishy" part as well.

other_evolved · 02-06-2019, 05:05 PM

BayMoWe335 · 02-06-2019, 08:31 PM

Crypto is the safest form of currency and its value will only rise.

MrRoboto · 02-07-2019, 08:39 AM

Quote:

Originally Posted by BayMoWe335

Crypto is the safest form of currency and its value will only rise.

Clients of QuadrigaCX would beg to differ.

Run Silent · 02-07-2019, 09:13 AM

Quote:

Originally Posted by MrRoboto

Clients of QuadrigaCX would beg to differ.

I would hope he was being sarcastic.

MrRoboto · 02-07-2019, 10:30 AM

Quote:

Originally Posted by Run Silent

I would hope he was being sarcastic.

I can't tell anymore.

IllSic_Design · 02-07-2019, 04:08 PM

Anyone with any knowledge on crypto(which you should have if you own any) knows that a coin/crypto is not actually yours if it is on an exchange. If it is on an exchange, you do NOT own the private keys to those coins, so if something happens or they go under, or they dont want to give it to you then you're kind of S.O.L. If you own crypto it needs to be stored on a hardware wallet(like a Ledger Nano) or even a paper wallet so that you make sure you have the private keys to your coins and that you are responsible for them/what happens to them.

02-06-2019, 08:12 AM	#1
MrRoboto Brigadier General 1850 Rep 4,836 Posts Drives: VO 1M Join Date: Aug 2007 Location: Canada iTrader: (0)	Canadian cryptocurrency exchange QuadrigaCX seeks creditor protection after founder's Have any of you been following this story? Sounds fishy to me. https://www.cbc.ca/news/business/qua...ency-1.5005236
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02-06-2019, 08:17 AM	#2
Grumpy Old Man Lieutenant Colonel 6467 Rep 1,966 Posts Drives: Porsche 993, 2015 MB GLK Join Date: Sep 2018 Location: Niagara on the Lake iTrader: (0)	I've been watching this story and was going to post it to the thread on Crypto.....I have no interest in putting any money into this, and that was before this happened. What a mess.
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02-06-2019, 08:37 AM	#6
MrRoboto Brigadier General 1850 Rep 4,836 Posts Drives: VO 1M Join Date: Aug 2007 Location: Canada iTrader: (0)	Take a look at this.
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02-06-2019, 05:05 PM	#8
other_evolved Lieutenant Colonel 2073 Rep 1,894 Posts Drives: 2015 Chevrolet SS Join Date: Oct 2012 Location: Saint Louis iTrader: (0)	__________________ Present 2015 Chevrolet SS 2014 Jeep Cherokee Trailhawk V6
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02-06-2019, 08:31 PM	#9
BayMoWe335 Colonel 1200 Rep 2,132 Posts Drives: 2010 E92 335i 6MT Join Date: Aug 2009 Location: US iTrader: (0)	Crypto is the safest form of currency and its value will only rise.
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02-07-2019, 04:08 PM	#13
IllSic_Design Colonel 2125 Rep 2,759 Posts Drives: 12 E92 328i Join Date: Jun 2016 Location: Northern California iTrader: (1)	Anyone with any knowledge on crypto(which you should have if you own any) knows that a coin/crypto is not actually yours if it is on an exchange. If it is on an exchange, you do NOT own the private keys to those coins, so if something happens or they go under, or they dont want to give it to you then you're kind of S.O.L. If you own crypto it needs to be stored on a hardware wallet(like a Ledger Nano) or even a paper wallet so that you make sure you have the private keys to your coins and that you are responsible for them/what happens to them.
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