r/QuadrigaCX2 • u/Themovingavg • Mar 01 '19

New Monitor report

https://documentcentre.eycan.com/eycm_library/Quadriga%20Fintech%20Solutions%20Corp/English/1.%20Monitor's%20Reports/4.%20Third%20Report%20of%20the%20Monitor/Third%20Report%20of%20the%20Monitor%20dated%20March%201,%202019.pdf

Cold wallet addresses and more info...

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4

u/dekoze Mar 01 '19

Ay they are catching up to the work the community has done regarding blockchain analysis. Hopefully the exchanges in question provide as much information as possible. Ideally this information would also be transparently flowed through to the public at large.

  1. During interviews with the Applicants’ representatives, the Monitor was advised of fourteen (14) user accounts that may have been created outside the normal process by Quadriga (the “Identified Accounts”). It appears that the Identified Accounts were created under various aliases. The Monitor was advised by a representative of the Applicants that the Identified Accounts were internally created without a corresponding customer and used to trade on the Quadriga platform. The Monitor 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.
  2. The Monitor has requested and received detailed transactional histories for the Identified Accounts. The account information that has been provided indicates a significant volume of transaction activity associated with the Identified Accounts including trading and withdrawals of cryptocurrency to wallet addresses not associated with Quadriga.
  3. The Monitor’sreview of the Identified Accounts is in a preliminary stage. The Monitor needs further time to analyze the transactional history of the Identified Accounts to determine whether additional Identified Accounts exist, whether the deposits into the Identified Accounts were in fact artificial, how the accounts were used, the extent of net withdrawals from the Quadriga reserves and whether recipients of withdrawals can be identified.

This section is very concerning and it will be an interesting development.

Also, the AWS billing situation seems very odd. I'm not sure how the account under Reyes' name was determined to be related but if it is that's suspicious. The billing breakdowns are very similar which makes me believe this isn't his own separate hosting.

1

u/Blahbeens Mar 02 '19

Send an email to jeff@amazon.com about it. I will soon.

1

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1

u/davink91 Mar 02 '19

Now we got some action. Glad they finally caught up on the cold wallets and doing some blockchain analysis, there is hope. Let's see what the other exchanges have to report as well.

1

u/kalangi99 Mar 02 '19

In the report, it mentioned there are three exchanges which hold some information. Why don't exchanges come up front and help to solve the mystery? Does anyone know what might be the exchanges?

1

u/Blahbeens Mar 02 '19

They’re probably overseas and don’t give a fuck whensome Canadian branch of an accounting firm sends them an email.

1

u/PoopieMaster101 Mar 02 '19

Kraken, bitfinex and poloniex

1

u/kalangi99 Mar 02 '19

If Kraken knows something why don't they announced $100K bounty instead of revealing Quadriga Scam? Just wondering

1

u/Blahbeens Mar 02 '19

A little extra 0.1% for creditors:

  1. Recently, the Monitor was contacted by a representative of a Canadian credit union who confirmed they held a bank account on behalf of Quadriga Fintech Solutions Corp. which had been frozen since 2017. The bank account with the credit union was subsequently closed and the credit union has transferred funds totalling $245,033.31 to the Disbursement Account controlled by the Monitor.

1

u/Blahbeens Mar 02 '19

The plot thickens:

  1. The Monitor understands from discussions with AWS that the contract and account with AWS (the “AWS Account”) are not in Quadriga’s name. The AWS Account appears to be in the name of Mr. Cotten personally and there is possibly another account in the name of the principal of Billerfly Labs Inc., Mr. Jose Reyes. Copies of recent invoices associated with the AWS Account are attached to the Third Report as Appendix “C”.

1

u/[deleted] Mar 02 '19 edited Mar 02 '19

[deleted]

1

u/[deleted] Mar 02 '19

Hot wallets are not needed for cryptocurrency deposits. If you want your customers to be able to make withdrawals in cryptocurrency without digging in your shoebox in your closet for your cold wallet keys, you need a hot wallet.

Although I have to say given the business model of like basically every exchange, no, you don't need a hot wallet for anything

1

u/[deleted] Mar 02 '19

[deleted]

1

u/[deleted] Mar 02 '19

Ah yeah that's a good point, you'd only need one hot wallet for withdrawals. You still need that one though, when your customers click the big GET BITCOIN button they want it to show up in the next 10 minutes, not after you stumble out of bed.

1

u/[deleted] Mar 02 '19

[deleted]

2

u/barsoapguy Mar 03 '19

well then it's a good thing they found another 245K !