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Although Canada is renowned for its maple syrup, snow-capped mountains, vast forests and, above all, its friendly population, the local Bitcoin and Crypto technology industry has not been very cold lately. .
The main platform of bitcoins in Canada in hot water
QuadrigaCX, Canada's long-held purveyor of scruples, suddenly swept the dust on Monday, as the company's landing page had been replaced by a scary but apparently innocuous "status update." In Vancouver, it was disclosed that the stock market was "down for maintenance," noting that she would keep her clients informed as "we know more."
Although sudden maintenance is a possibility, especially in a nascent industry like crypto-technology, Quadriga's history in this industry has prompted some traders to run to the hills. On the platform's official subreddit, users quickly questioned the underlying motivations of the exchange. One user jokingly said that by depositing money on Quadriga, he was actually throwing all his money "on the wheel of roulette", sneakily asking if the "dealer" would turn black or red.
Others have taken this debacle with a little more cynicism, with some having announced that they would contact the local police and / or the RCMP, as well as the legal representation of the company and the entities badociated. Some even took the time to remind Canadian clients of the arrival of the local suicide prevention line, highlighting the growing sense that "maintenance" was only a means of conceal a "rip off". And even if the audience claimed that such an action is too fast, too early, they have reason to doubt the legitimacy and intentions of Quadriga.
Specifically, in a statement issued by Jennifer Robertson, the wife of the chief of the exchange, Gerald Cotten, it was revealed that Cotten would have died in India. Although death touched the whole of humanity, which means that the disappearance of Cotten is not an impossibility, many quickly asked for evidence and what would happen with the next exchange.
The statement allegedly claimed that a shareholders' meeting would be held … just a few days ago. But since that date, Friday, no minutes / transcripts were leaked, nor any news regarding the direction that Quadriga was going to take. This worrisome moment of the founder's death, the announcement of this death, a supposed meeting of shareholders and the sudden maintenance session have led many to believe that things are not what they seem.
QuadrigaCX's finances
All of this happens after Quadriga has had financial problems for months, almost a year. After struggling for months with deposits, it was revealed that Quadriga had blocked more than $ 28 million in Canadian banks in November. According to a report from The Globe And Mail, a leading North American store, Canadian Imperial Bank of Commerce (CIBC) has frozen five accounts related to Costodian Inc., the payment processor of Quadriga, the owner Jose Reyes, and 388 Bitcoin- nice customers.
Although other reports in this regard argue that the sum has been handed over to the Ontario Superior Court of Justice, which will see a judge decide what to make funds, many investors in distress still resort to Twitter, Reddit and other social media -make that they have not yet received their Bitcoin withdrawals.
Title Image Courtesy of by shayd johnson on Unsplash
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