The Big Four audit firm Ernst & Young (EY) released another report in the creditor protection proceedings of the crypto exchange QuadrigaCX that we regularly update you on our blockchain news.

In the report, you can see that the firm identified six separate crypto wallets that were used to store bitcoin but it turned out that there have been no deposits in the wallets since April 2018. The report states:

 “To date, the Applicants have been unable to identify a reason why Quadriga may have stopped using the Identified Bitcoin Cold Wallets for deposits in April 2018, however, the Monitor and Management will continue to review the Quadriga database to obtain further information.”

The exchange filed for creditor protection in February this year after the death of the founder of the exchange Gerald Cotten. The exchange lost access to the cold wallets and private keys and since then the court the auditor and investigators are trying to find where the funds went missing.

Also, in the report, EY stated that they have discovered about 14 user accounts that ‘may have been created outside the normal process by Quadriga’’:

 “…the Identified Accounts were internally created without a corresponding customer and used to trade on the Quadriga platform. [EY] was further advised that deposits into certain of the Identified Accounts may have been artificially created and subsequently used for trading on the Quadriga platform.”

In the meantime, crypto exchange Kraken offered a bounty of $100,000 for tips that could potentially lead to the discovery of the missing funds. Kraken stated that all of the tips they get will be handed to the FBI (Federal Bureau of Investigation and the Royal Canadian Mounted Police.

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