New crypto report: 600,000 Ethereum lost by exchange QuadrigaCX could soon be uncovered

Over 600,000 Ethereum that was lost by the troubled QuadrigaCX exchange has been uncovered according to a new report. The cryptocurrency exchange maintains that it is not able locate $145 million in digital assets following the deaths of its CEO, Gerald Cotten. The CEO was the only one with access to the private keys.

The new research conducted by Zerononcense, a crypto outlet claims that there is a high chance that Gotten stored a colossal amount of Ethereum coins on several cryptocurrency exchanges including Bitfinex, Poloniex as well as Kraken. The crypto outlet utilized data provided by the CEO of Kraken Jesse Powell and the CEO of MyCrypto Taylor Monahan. In case the data is trustworthy, it could reveal that Cotten did not use cold storage but stored the digital assets on exchanges.

“Based on the transaction analysis included in the report, it appears that a significant amount of Ethereum (600,000+ ETH) was transferred to these exchanges as a means of ‘storage’ during the years that QuadrigaCX was in operation and offering Ethereum on their exchange.

Given the testimony in Jennifer Robertson’s affidavit stating that neither she nor the other involved individuals at QuadrigaCX were knowledgeable about where Gerry Cotten was moving and storing crypto, it is very possible that QuadrigaCX, the creditors, and other entities are unaware of this discovery.”