Brief Summary of Findings Below are the findings made by the author of this report:
It appears that there are no identifiable cold wallet reserves for QuadrigaCX. It appears that QuadrigaCX was using deposits from their customers to pay other customers once they requested their withdrawal. It does not appear that QuadrigaCX has lost access to their Bitcoin holdings. It appears the number of bitcoins in QuadrigaCX’s possession are substantially less than what was reported in Jennifer Robertson’s (wife of allegedly deceased CEO and Owner Gerry Cotten) affidavit, submitted to the Canadian courts on January 31st, 2019. At least some of the delays in delivering crypto withdrawals to customers were due to the fact that QuadrigaCX simply did not have the funds on hand at the time. In some cases, QuadrigaCX was forced to wait for enough customer deposits to be made on the exchange before processing crypto withdrawal requests by their customers. After completing the analysis, it is the author’s opinion that QuadrigaCX has not been truthful with regards to their inability to access the funds needed to honor customer withdrawal requests. In fact, it is almost impossible to believe that this is the case in lieu of the empirical evidence provided by the blockchain.
I am a brap lover and connoisseur, user. But I just love the truth too.
Aaron Murphy
Gerry Gotten faked his death in India, the probably flee somewhere like Philippines or Thailand to live under a false identity.
His wife will join him in a year or two.
Logan Hall
Now just imagine what would have happened if Bitcoin had anonymous transactions. Transparency is a wonderful thing.
Tyler Flores
>After analyzing the cluster address, there is no indication that QuadrigaCX ever held a substantial amount of capital (>100 $BTC) in their possession.
>The key takeaway from the deposit information provided by customers is that QuadrigaCX more than likely never held enough $BTC to account for the customer funds. In the next section, the customer withdrawal information related to $BTC transactions on the exchange reflect that QuadrigaCX was clearly re-routing payments from customers to satisfy withdrawal requests from other customers on their exchange, effectively operating a shell exchange or a ponzi.
Holy shit it was a Ponzi all along!
Gabriel Phillips
Poor leafs
Jeremiah Hughes
I didn't know that. Honestly, I like the smaller version better, whichever is real.
Yes. Paying your outstanding withdrawals with new customer deposits is like the literal definition of a Ponzi scheme.
It blows my mind that Quad was a scam from the very beginning. But it gets even more fucked up:
Quadriga shills in full defense mode. It never ceases to amaze me that Jow Forums is deemed important enough to pay people to astroturf on. You will notice if you look at those links that, yes, there are many anagrams for those letters, but how many of them actually are specific meaningful names or phrases?
was that faggot ever found? or was that someone else. the guy that posted at an airport basically saying later faggots
Thomas Cruz
did they ever get hacked at any point in the past that they announced?
Nolan Martin
i was surprised this wasn't all over Jow Forums. quadriga is huge in canada.
Michael Reyes
>ANOTHER WHITE DUDE EXIT SCAMS
bbbbbbbbut muh chinks
Isaac Campbell
Good thread
Thomas Price
now THIS is a braphog
Elijah Sanchez
Most leaves who care are working on sifting through blockchain data, class action stuff or contacting authorities. One guy even wrote the Prime Minister's office. There's even talk of pooling money together to hire people to go find Cotten wherever he is.
The ironic thing is that I think Jen is going to get played too. She's obviously not very bright if she made up that story about Cotten dying on the way to setting up an orphanage. Either that or that was what she was told to say, because he's using her as a patsy: meaning she thinks that in a year or two when the heat dies down, she's going to go join him wherever he is and live the cozy 100 millionaire+ lifestyle in a villa somewhere in Asia, but really, his plan all along was to make her the fall girl. He deliberately gave her an obvious lie to tell, and she was dumb enough to go public with it, knowing that it would destroy her credibility and probably her future too, because he had no plan to be with her in the future. This is what villains do, after all... they dispose of their henchmen or henchwomen when they are no longer useful.
If this theory is wrong, then if Jen really does get on a plane to go find him wherever he is, she's going to be followed and lead the creditors straight to Cotten. He may be smart enough to realize this, so it's even more of a motive for him to betray Jen. And if she's already lied to the authorities under oath (affidavit), then she will perjure herself by recanting. Even if she can cut a deal to save herself, there will still be thousands of angry Canadian investors waiting at her door with pitchforks and torches.
tl;dr Mt. Gox 2 happened in Canada, and the sequel is even more riveting than the original
proof of bodyh with independent dental records validation
Henry Cook
> the cozy 100 millionaire+ lifestyle in a villa somewhere in Asia, Cotton had multiple properties in Canada, an airplane and left 100k to his dogs in his will. You dont need to be on the run for the rest of your life to live a comfy life in a villa in Asia. He could buy a 70 year lease on a huge villa in Bali for something like 200k USD, peanuts for him. He's probably dead, and if he is then RIP
Juan Jones
More like $250 million
Cooper Rivera
Top fkn kek
Bentley Powell
Shut up fag
William Butler
Hes not fuckin dead
Brayden Walker
IMO there's a much better chance that Cotten is alive than Tupac, roughly 100%
