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EY Says It Is 'Aware' of 'Unauthorized' Quadriga Wallet Transfers
More than 100 BTC moved out of Quadriga-linked wallets over the weekend.
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Ernst & Young said it has "become aware" that bitcoin
that'd been sitting QuadrigaCX's cold wallets has been moved elsewhere, according to a statement Tuesday.The company, which is acting as the bankruptcy trustee for the defunct Canadian trading platform, made the announcement four days after more than 100 BTC moved out of the wallets, which the company said Quadriga did not have access to. CoinDesk reported on Monday that EY had not initiated the transactions, which EY confirmed in its Tuesday statement.
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"Ernst & Young Inc. acting in its capacity as court appointed Monitor and subsequently as Trustee in Bankruptcy worked with management and others to recover the bitcoin transferred to these wallets," the statement said. "However, the private keys associated with the cold wallets have not been located despite the detailed review."
Read more: Bitcoin Addresses Tied to Defunct Canadian Crypto Exchange QuadrigaCX Wake Up
Miller Thomson, the Canadian law firm acting as the representative counsel for Quadriga's creditors, published a similar statement on its own website.
EY first announced in early February 2019 that it had "inadvertently" sent the bitcoin to the wallets, which it was not able to access at the time.
"The Trustee and Representative Counsel are actively investigating the unauthorized transfers for the benefit of the Estate," Miller Thomson's statement said.
In addition to five addresses first identified by CoinDesk in 2019, EY listed a sixth address, which does not appear to have seen any activity since 2018, well before Quadriga collapsed.
Nikhilesh De
Nikhilesh De is CoinDesk's managing editor for global policy and regulation, covering regulators, lawmakers and institutions. He owns < $50 in BTC and < $20 in ETH. He won a Gerald Loeb award in the beat reporting category as part of CoinDesk's blockbuster FTX coverage in 2023, and was named the Association of Cryptocurrency Journalists and Researchers' Journalist of the Year in 2020.
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