News Hopefully no one has crypto with these guys

Discussion in 'Reality Check' started by MRA, Feb 4, 2019.

  1. MRA

    MRA
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  2. Boots

    www.reality-check.ca

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    I've used them but I took my crypto offline. Leaving crypto in one of the exchanges is playing with fire.
     
  3. clicker666

    Older lifter

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    I had crypto with them, but after changing cell phones I could no longer access my account. Nothing worked. Security questions, secret code that was downloaded at the beginning, nothing. Fortunately I had emptied the account.

    Boots, how do you not leave it in crypto? For example right now I have a little bit of money (was 450 when I bought it, now at a little less than 250 so I'm sitting on it) in NDAX. What do you do if you want to buy or sell, or in my case, convert it into payment for internet purchases?
     
  4. Boots

    www.reality-check.ca

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    I transferred my coins to my digital wallet. I'm holding my own bag versus an exchange holding it for me.
     
  5. clicker666

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    I figured as much - the whole wallet concept throws me off a bit. I assume you'd have to maintain a few wallet backups. In the event you wanted to use your coin for some purpose, how do you transfer them to another party?
     
  6. Boots

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  7. C. Mike Hunt

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  8. Duggan

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    I really don't think the guy is dead.

    I had maybe $100 left in bitcoin gold from one of the splits, the rest is on my Trezor.
     
  9. Boots

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    His wife is setup nice
     
  10. chainsaw

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  11. Boots

    www.reality-check.ca

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  12. RoryTate

    Buffer the streaming media unto me.

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    If there are separate legal entities involved, I don't see why not.
     
  13. C. Mike Hunt

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    https://www.ctvnews.ca/business/can...rs-money-to-his-own-accounts-report-1.4475031

    Canadian cryptocurrency founder transferred customers' money to his own accounts: report

    The accounting firm investigating the unseemly demise of Canada's QuadrigaCX cryptocurrency exchange is accusing the company's late founder of transferring customer funds into his personal accounts, where the money was used for high-risk margin trading.

    The bombshell allegation, contained in a report from Ernst and Young, draws into sharp focus several questionable business practices that preceded the shutdown in January of QuadrigaCX.

    At the time, it owed creditors more than $200 million in cash and digital assets.
     
  14. MRA

    MRA
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    Glad I got out
     
  15. Boots

    www.reality-check.ca

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    I used Quadriga to buy some BTC but I transferred it to a cold wallet... it's now worth slightly over half of what I paid for it :rant:
     
  16. MRA

    MRA
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    I got lucky, I got in low and sold it when it was near its all time high
     
  17. 17

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    there is no way this dude is actually dead


    kudos to him if he pulls this off
     
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  18. Duggan

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    No chance, you mysteriously die in India, in a place known for fake death certificates.
     
  19. tribeachpunk

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    I read somewhere you can be certified dead in India for something like $500...
     
  20. Duggan

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    Everyone said he was such a great guy, but when you see he was skimming funds to margin trade, you start to wonder. My guess is he lost a bunch of the money coupled with the down turn of bitcoin and decided that fake death was the way to go.

    I am not sure if his body ever came back
     
  21. 17

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    teenage dirtbag

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    Filed a will 12 days before he died

    No one knew he was dead for almost a month

    I can promise you that every communication and move his former fiancée makes is monitored.
     
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  22. Boots

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    This is one case where him faking death seems totally plausible. I mean the guy had access to oodles of funds in a currency that is known to be hard to track.
     
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  23. Duggan

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    Its sketchy as all fuck.
     
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  24. MRA

    MRA
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    If he wasn't faking his death I imagine there would be a body by now.
     
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  25. Lex Lucas

    feels good.

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    Allegedly he told family he had a dead man switch that would send passwords if he were to die... and nothing has ever been received.
    It is pretty shady with him being the only person dealing with operations/transfers, then the margin trading, then the banking issue, and the decline in crypto.. he only had one option to get out of the situation.
     
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  26. clicker666

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    The story goes that he was cremated upon return to Nova Scotia by Snow's Funeral Home, although finding an actual statement to that effect (by me) has been fruitless. Google provides plenty of hits, but no meat.
     
  27. 17

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    theres been conflicting statements from the "funeral home" one confirms he was there, one says theyve never heard of him.
     
  28. Duggan

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    Sounds like one person was paid off and one wasn't.
     
  29. 17

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    if you want to fake your death ill be that person if you pay me off


    then ill kill you and it will be the PERFECT CRIME
     
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  30. RoryTate

    Buffer the streaming media unto me.

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    I'll give you about tree fiddy.
     
  31. Duggan

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    And you get your first kill.
     
  32. C. Mike Hunt

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    https://www.cbc.ca/news/business/osc-quadriga-gerald-cotten-1.5607990

    Crypto exchange Quadriga was a fraud and founder was running Ponzi scheme, OSC report finds

    The Quadriga cryptocurrency exchange that saw millions of dollars disappear just as its founder died was a "fraud" and Ponzi scheme, according to the Ontario Securities Commission.

    The regulator said Thursday that Vancouver-based Quadriga's late founder Gerald Cotten committed fraud by opening accounts under aliases and crediting himself with fictitious currency and crypto asset balances, which he traded with unsuspecting clients.

    Cotten, the OSC said in a new report, ran into a shortfall in assets available to satisfy client withdrawals when the price of the crypto assets changed. He started running a Ponzi scheme that covered the shortfall with other clients' deposits, the agency determined.

    "What happened at Quadriga was an old-fashioned fraud wrapped in modern technology," the OSC said.

    "Quadriga did not consider its business to involve securities trading and it did not register with any securities regulator. This lack of registration facilitated Cotten's ability to commit a large-scale fraud without detection. So did the absence of internal oversight over Cotten."

    The OSC spent 10 months analyzing trading and blockchain data, interviewing key witnesses, collaborating with overseas regulatory bodies and using third-party and bank information to reconstruct what was going on at Quadriga in the months leading up to 30-year-old Cotten's death.
     
    Last edited: Jun 11, 2020
  33. Boots

    www.reality-check.ca

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  34. Nick84

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  35. MRA

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    Thank fuck I got out of that early
     

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