QuadrigaCX audit can’t account for $100 million

• Ernst and Young (EY) has finally provided blockchain addresses for six of QuadrigaCX’s cold wallets.
• According to the audit, $100 million worth of Bitcoins is still missing from the wallets.

Ernst and Young (EY), the court-appointed monitor for QuadrigaCX, has finally provided blockchain addresses for six of exchange’s cold wallets. As earlier reported by FX Street, Quadriga had accidentally sent $500,000 worth of BTC to the cold wallets. Apart from those coins, the wallets are utterly empty. Meaning, $100million worth of Bitcoins are still missing. EY has still not indicated whether there might be other bitcoin cold storage wallets aside from the six published.

According to EY’s report:

“The Monitor has made inquiries of the Applicants as to the reason for the lack of cryptocurrency reserves in the Identified Bitcoin Cold Wallets since April 2018. To date, the Applicants have been unable to identify a reason why Quadriga may have stopped using the Identified Bitcoin Cold Wallets for deposits in April 2018, however, the Monitor and Management will continue to review the Quadriga database to obtain further information.”

As also reported by FX Street, a research report was able to track down 600,000 Ethers lost by QuadrigaCX.