What is QuadrigaCX?

In December 2013, Gerald William Cotten launched QuadrigaCX, a crytocurrency exchange where people could trade in digital currency using real or virtual money. (A typical crytocurrency exchange would allow you to buy a certain amount of bitcoin for a certain amount of rupees.

Will quadriga CX get a distribution?

Quadriga Fintech Solutions CEO and founder Gerald William Cotten (Quadriga CX) Bankrupt Canadian crypto exchange QuadrigaCX will start interim distribution for some users, said EY, which is acting as the trustee for the firm's estate. In the coming week, EY will post the procedure for QuadrigaCX's users to make a claim for the distribution.

Does QuadrigaCX owe creditors?

It seems the storm involving QuadrigaCX is far from over in the crypto space. According to the latest report, the Canadian crypto exchange, which plummeted following the demise of its CEO and founder in 2018, is believed to only have $21 million in assets. However, it is also said to owe creditors at least $160 million.

What happened to QuadrigaCX?

Miller Thomson, which is the law firm representing QuadrigaCX's creditors, posted the message from EY. The interim distribution will come as a relief for the customers of QuadrigaCX, who were left in the dark after the exchange went bankrupt in 2019 due to the apparent death of its founder and CEO Gerald Cotten.