A leading crypto exchange pledges $100,000 reward for QuadrigaCX’s missing cryptos

Marco Green
March 4, 2019

Major cryptocurrency exchange Kraken is dedicated to solving the QuadrigaCX case and finding the missing user funds.

According to an announcement posted on the official Kraken blog, the exchange said that the 100,000 U.S dollars would be paid to anyone who will forward information leading to the recovery of the missing cryptos.

The infamous QuadrigaCX case, where $190 million in user funds went missing following the death of Quadriga CEO Gerald Cotten, may be getting closer to being cracked.

Cryptocurrency exchange Kraken is offering a $100,000 reward for information about the location of $190 million in crypto and regular currency from failed Canadian exchange QuadrigaCX. Gerald was believed to have holdings of 11,278 BCH, 26,488 BTC, 35,320 BTG, 11,149 BSV, 429,966 ETH, and 199,888 LTC. So, what it wants people to do is to listen to episode 3 and episode 4 of its "How to Grow a Decacorn" podcast, and then it wants anyone who either knows "where the missing client funds are" or knows "anyone who may know something that can help law enforcement locate the funds" to let Kraken know so that it can contact law enforcement authorities.

QuadrigaCX has had its fair share of instability in its operations since its inception, the company made a declaration in June 2014 that they lost $14 million worth of Ethereum attributed to a smart contract error.

Previously, Kraken founder and CEO Jesse Powell had already offered assistance to the RCMP in its investigations.

"[We] are investigating the freaky and, frankly, unbelievable story of the founder's death and lost keys".

This is not the first time that Kraken has chose to help another exchange in tracing the lost amounts. Kraken likened the situation to that of the Tokyo-based Mt. Gox. When enquired about the reason behind helping out their Canadian counterpart, the CEO said that events like these impact the whole community.

It's been one of the most unique and freaky cases in the crypto industry. Hopefully, the offered bounty would lead to some progress in the case.

As a content writer Prashant believes in presenting complex topics in simple laymen terms.

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