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Crypto Bear Market in Hibernation. Another $500K Goes Missing in QuadrigaCX Caper.

Dave Jackson Dave Jackson, Stockhouse
0 Comments| February 13, 2019


Click to enlarge

The cryptocurrency market was noticeably quiet today, with most top crypto assets moving little from their previous-day levels.
 
At press time, Bitcoin’s (BTC) price continues to trade around US$3,700, roughly US$150 above its interim support level of US$3,550. A break below that level would likely confirm the crypto market is still in bear country.

According to data from Einstein Exchange, BTC’s market share currently stands at 52.6%, with the world’s number-one cryptocurrency circulating valuation eclipsing those of the more than 2,000 altcoins that have sought to displace it as the world’s leading crypto token.

 

CLICK BELOW FOR LIVE CRYPTOCURRENCY PRICE INDEXES:



Yet another bizarre twist in the ongoing Canadian crypto exchange QuadrigaCX case. Reports today have confirmed that the company "inadvertently" transferred 103 Bitcoins – about CAD$469,000 – from hot wallets into inaccessible cold wallets just hours after a court-appointed monitor had located it. Financial Advisors Ernst & Young do not specify in the report which of the company's contractors transferred the funds.
 
The court-appointed monitor overseeing the search for the $260 million owed to clients of the QuadrigaCX cryptocurrency exchange says it recently found more than CAD$900,000 in digital assets, only to see more than half of it escape its grasp.
 
About 115,000 QuadrigaCX customers have been stiffed to the tune of about CAD$70 million in cash and CAD$190 million in Bitcoin and other cryptocurrencies.


 
The Vancouver-based exchange was shut down January 28th, more than a month after its CEO and sole director – Nova Scotia resident Gerald Cotten – died while travelling in India, leaving his company without access to almost all of its crypto assets.
 
His widow, Jennifer Robertson, has said in court documents that Cotten was the only person with access to his laptop, which is thought to contain the digital keys to the cold wallets.

Voyager Digital (Canada) Ltd. (TSX:V.VYGRForumannounced earlier today the launch of its iOS mobile operating system application for commission-free trading of 18 of the largest and most liquid crypto assets.
 
For more on this app, click here.
 
FULL DISCLOSURE: Voyager Digital (Canada) Ltd. is a client of Stockhouse Publishing.



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