QuadrigaCX
Canada's largest exchange said its founder died holding the only keys to the cold wallets, leaving customer funds inaccessible. A later investigation found the wallets were largely empty and customer funds had been lost or misappropriated earlier.
- 1-2y
- 2-2y
- 3-6mo
- XDeath
Spacing is ordinal, not to scale. Numbers match the list below.
- 1
One person held the keys with no succession plan.
Visible 2 years before death | One person holds the keys
- 2
No proof of reserves, no auditor, and no published cold-wallet addresses.
Visible 2 years before death | No proof of reserves
- 3
Withdrawal delays and 'bank issues' for months before the collapse.
Visible 6 months before death | Withdrawal delays
An exchange where one person holds the keys is a single point of failure.
- OSC publishes investigative report of QuadrigaCXOntario Securities Commission
- How crypto exchange QuadrigaCX lost access to $190 million of customers' moneyGlobal News
- QuadrigaCX founder transferred customers' funds to his own accounts: reportInvestment Executive
Editorial summary of public reporting. Allegations are labeled as allegations. Not financial or legal advice.
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