• Financially illiterate own crypto
    Canada,  Cryptocurrencies,  Regulation

    Report: Financially illiterate more likely to own crypto

    Bank of Canada survey finds consumers with a low level of financial literacy are twice as likely to own crypto as those with high levels

    For the second consecutive year, the study “found that awareness of Bitcoin increased with financial literacy, but the likelihood of ownership declined as the level of financial literacy increased.”

  • Photo of an actual QuadrigaCX customer standing next to a Canadian flag (via Shutterstock).
    Bitcoin,  Canada

    Ernst & Young to QuadrigaCX users: You’re screwed

    The cryptocurrency exchanges bankruptcy trustee said it may not be worth looking for the missing 90% of customers’ digital assets

    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.

  • The ₿ Team: Four men suspected of ripping off 112 Bitcoin ATMs across Canada (via Calgary Police Service Cybercrime Team).
    Bitcoin,  Canada

    Canadian cops search for ATM crooks who double spent Bitcoin

    Police on the lookout for four men who ripped off 112 Bitcoin ATMs with some clever programming

    A four-man crypto crime spree raged across Canada six months ago, and Calgary’s police department has finally decided now is a good time to ask the public for help catching the thieves. Sorry to bother you, eh?

  • Canada Canadian dollar
    Alt coins,  Bitcoin,  Canada,  Innovators

    Canadian crypto exchange hacked, all assets stolen, internet cries ‘Scam!’

    MapleChange shutters website and social accounts after security breach cleans out user wallets

    A hack at a small Canadian crypto exchange left its users holding the bag Sunday, as MapleChange announced it had lost all its assets and would not be able to immediately refund its users. On Sunday afternoon, the exchange, which has Edmonton, Alberta listed as its location on Twitter, announced that a security breach allowed someone to steal all the assets it held. MapleChange added that it would not be able to refund the cryptocurrency until it investigates what happened. The hack followed MapleChange’s announcement Saturday on Twitter that it had upgraded its server and launched a version 2.0.0. https://twitter.com/MapleChangeEx/status/1056582662435954688 It’s unclear how MapleChange’s investigation is going, as the exchange…