The departed “technical work” canadian crypto currency exchange QuadrigaCX appealed to the Supreme court of Nova Scotia to provide protection from creditors.
We’ve posted an update regarding the latest on our company operations: https://t.co/qT7reUA17N
— QuadrigaCX (@QuadrigaCoinEx) 31 January 2019 R.
According to company representatives, this will allow QuadrigaCX to avoid possible bankruptcy. The statement said that the exchange asks the court to authorize the company Ernst & Young to conduct an independent observation of what is happening on QuadrigaCX processes. The latter was aimed at the restructuring of the company and “financial problems”.
“Recently we worked hard on solving problems related to liquidity. In particular, we tried to locate our major cryptocurrency reserves, placed in cold wallets, and to protect them, — reads the statement of the exchange. — Unfortunately, these attempts are unsuccessful,”
Note that in the past month, the exchange announced the sudden death of its CEO and President Gerald Cotto. Evidence of his death, QuadrigaCX is still not provided. One of the theories is that the exchange does not have access to cold wallets since it was only Cotto.
We will remind, the other day about the closing of the announced Ukrainian cryptocurrency exchange Liqui.