Share this article
BTC
$80,946.45
-
1.49%ETH
$1,550.48
-
4.00%USDT
$0.9993
-
0.04%XRP
$2.0090
+
0.31%BNB
$579.46
+
0.06%USDC
$0.9999
+
0.01%SOL
$116.33
-
0.00%DOGE
$0.1574
-
0.28%ADA
$0.6307
+
0.71%TRX
$0.2351
-
2.77%LEO
$9.4108
+
0.25%LINK
$12.43
-
0.37%AVAX
$18.53
+
1.29%HBAR
$0.1730
+
0.54%TON
$2.9145
-
3.85%XLM
$0.2339
-
0.91%SUI
$2.1825
+
0.59%SHIB
$0.0₄1197
-
0.27%OM
$6.4452
-
4.62%BCH
$296.58
-
1.52%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Bankrupt Crypto Exchange QuadrigaCX Will Start Interim Distribution for Some Users, EY Says
EY will make the procedure to file the claims public in the coming weeks,
Bankrupt Canadian crypto exchange QuadrigaCX will start interim distribution for some users, said EY, which is acting as the trustee for the firm's estate.
In the coming week, EY will post the procedure for QuadrigaCX's users to make a claim for the distribution. The claim of some users may be revised, as per the bankruptcy proceedings, but they can appeal the revision.
STORY CONTINUES BELOW
Miller Thomson, which is the law firm representing QuadrigaCX's creditors, posted the message from EY.
The interim distribution will come as a relief for the customers of QuadrigaCX, who were left in the dark after the exchange went bankrupt in 2019 due to the apparent death of its founder and CEO Gerald Cotten. The firm, which was once Canada's largest crypto exchange, owed customers some $200 million in crypto.
Over 100 bitcoins (BTC) were transferred out of QuadrigaCX's cold wallet last year. The transfers were not made at the behest of EY, which had mistakenly sent 100 bitcoins to QuadrigaCX controlled cold wallets in 2019.
Read more: Bitcoin Addresses Tied to Defunct Canadian Crypto Exchange QuadrigaCX Wake Up
UPDATE (May 9, 2023, 13:21 UTC): Adds details on Miller Thomson in the third paragraph.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
