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QuadrigaCX

QuadrigaCX

QuadrigaCX is a Canadian cryptocurrency exchange.

Quadriga is a cryptocurrency exchange company headquartered in Vancouver, British Columbia, Canada that was founded in 2013 by Gerald Cotten. The company was the first cryptocurrency exchange in Canada to be granted a license by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

QuadrigaCX uses a combination of encrypted cold storage, two factor authentication, collective intelligent threat detection, and a global load balanced network to ensure user security.

Court order for creditor protection

On February 5, 2019 QuadrigaCX officially announced trading on their platform will no longer be available until the platforms liquidity issues are resolved. The closing of trading on the QuadrigaCX exchange came after the Supreme Court of Nova Scotia issued an order for creditor protection in accordance with the Companies' Creditor Arrangement Act (CCAA). The Court appointed Ernst & Young Inc., to monitor QuadrigaCX's effort towards addressing their customers financial obligations.

This decision was made to help resolve the companies outstanding financial issues with its customers after the company lost approximately $150 million worth of its users cryptocurrency funds after the death of Gerald Cotten, the founder of QuadrigaCX.

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Gerald Cotten

Founder & CEO

Further reading

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Canadian Crypto Exchange QuadrigaCX Blames Major Bank for Delays

Ana Alexandre

Web

QuadrigaCX Imbroglio Takes a Turn After Widow Claims CEO Mixed Personal and Company Funds | NewsBTC

Cole Peterson

Web

QuadrigaCX Scandal Jolts Canada to Regulate Cryptocurrency Exchanges

Melanie Kramer

Web

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