Exchange record
QuadrigaCX
Defunct Canadian centralized cryptocurrency exchange that entered creditor protection in February 2019 after founder Gerald Cotten's death and missing-customer-funds crisis, later moving into bankruptcy. HEI records QuadrigaCX as a dead event-backed exchange with insolvency and regulatory-review history.
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Key facts
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Summary
Defunct Canadian centralized cryptocurrency exchange that entered creditor protection in February 2019 after founder Gerald Cotten's death and missing-customer-funds crisis, later moving into bankruptcy. HEI records QuadrigaCX as a dead event-backed exchange with insolvency and regulatory-review history.
Timeline
QuadrigaCX sought and received creditor protection in Nova Scotia after founder Gerald Cotten's death and the reported inability to access large amounts of customer cryptocurrency.
Quadriga sought and received CCAA protection on February 5, 2019 after the platform had shut down on January 28, 2019.
QuadrigaCX moved from creditor-protection proceedings into bankruptcy proceedings in April 2019 after recovery and restructuring prospects became remote.
The Ontario Securities Commission staff review concluded that Quadriga's collapse resulted from fraud by Gerald Cotten and described the case as an old-fashioned fraud wrapped in modern technology.