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.
Founder & CEO
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- Cluster: Blockchain & cryptocurrencyA cluster of topics related to blockchain and cryptocurrency.
- CompanyA company, abbreviated 'co.', is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise.
- Cryptocurrency exchangeCryptocurrency exchanges are exchange markets for trading cryptocurrencies.
- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.
- BlockchainA blockchain is an append-only digital ledger storing a set of time-ordered transactions grouped in blocks that are linked together using cryptographic hashes.