Canadian Crypto Exchange QuadrigaCX Officially Declared Bankrupt
Canada's major cryptocurrency exchange QuadrigaCX has been officially declared bankrupt, local media outlet CBC reported on April 8.
Quadriga's bankruptcy was reportedly approved today by Nova Scotia Supreme Court Justice Michael Wood, and follows the court monitor Ernst & Young's (EY) recommendation that it should be declared bankrupt earlier this month.
As previously reported, Quadriga filed for creditor protection when — following Cotten’s death — it lost access to its cold wallets and corresponding keys, that ostensibly held the assets owed to various clients.
Currently, the exchange reportedly owes more than $195 million to over 115,000 customers.