Cryptocurrency exchange QuadrigaCX has barely 10% of its depositors’ money, and it’s probably not worth looking for the rest. That is what of auditing and advisory giant Ernst & Young Inc. told the Supreme Court of Nova Scotia in its role as trustee of the firm’s bankruptcy on May 1. It will be too long and costly, and some other exchanges and payment processing firms are not cooperating, it said.
As the QuadrigaCX saga continues to play out, Coinbase CEO Brian Armstrong has jumped into the fray. The chief executive at the largest U.S. exchange suspects that management at its largest Canadian competitor is using its founder’s death to cover up what could be a massive fraud.