Ernst & Young: Bitcoin in QuadrigaCX cold wallet has been transferred, and the related private keys have not been found

2022-12-21 08:26:27

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ChainCatcher news, according to CoinDesk, the bankruptcy trustee of QuadrigaCX, Ernst & Young, issued a statement on Tuesday stating that it has become aware that BTC in QuadrigaCX's cold wallet has been transferred to other addresses. Over the weekend, more than 100 BTC associated with QuadrigaCX were transferred out of the cold wallet, totaling approximately $1.7 million, with many of the funds flowing into different wallets. Ernst & Young confirmed that it did not initiate these transactions.

The statement said that Ernst & Young, in its capacity as the court-appointed monitor and bankruptcy trustee, is working with management and others to recover the Bitcoin transferred to these wallets, but has still been unable to locate the private keys associated with the cold wallet.

Previously, in February 2019, Ernst & Young first announced that it had "inadvertently" sent BTC to its inaccessible Quadriga cold wallet, losing control of those BTC, which have since remained frozen. Last Friday, BTC from all five addresses flowed out between 6:52 PM and 7:14 PM Eastern Time. (CoinDesk)

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