QuadrigaCX Sends Remaining Crypto Assets to EY

QuadrigaCX, Canada’s now-offline cryptocurrency exchange, has transferred its remaining cryptocurrency assets from its wallets to Ernst & Young (EY), the auditor announced in a February 20 report.

According to the EY’s “Second Report of the Monitor,” the entirety of QuadrigaCX’s hot crypto wallets were emptied on February 14 after the company conducted extensive testing. All of the exchange’s online cryptocurrencies are now held by EY, one of the Big Four auditing firms.

The transferred amount included 51 Bitcoin (BTC), 952 Ethereum (ETH), 822 Litecoin (LTC), 33 Bitcoin Cash (BCH), and 2,033 Bitcoin Gold (BTG), the report showed, amounting to just over $410,000 at press time.

Ernst & Youg said that it will be responsible for holding the funds from QuadrigaCX in its own cold storage pending further order of the court. The company provided an update to the current financial situation of the exchange, saying that it currently has three immediate sources of funds available to fund the proceedings.

According to the document, the exchange has $18.9 million in bank drafts possessed by payment operator Costodian Inc and $4.39 million in bank drafts held by law firm Stewart McKelvey. The report also added that the exchange also had “other amounts” held by several third-party payment processors.

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