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The Calgary Police Service Cybercrime Team has asked the public to assist in the identification of four individuals allegedly involved in multiple fraudulent Bitcoin transactions. Canadian police are seeking information on individuals alleged to be involved in defrauding Bitcoin (BTC) ATMs (BTMs), according to an announcement published by the Toronto Police Service on March 13. The Calgary Police Service (CPS) Cybercrime Team has asked the public to assist in the identification of four individuals allegedly involved in multiple fraudulent transactions made within the country and targeting one Canadian Bitcoin firm. The CPS initially received the information in October 2018. The press release states that in September of last year, the suspects allegedly made 112 fraudulent transactions at BTMs in seven Canadian cities, including Calgary, Toronto, Montreal, Ottawa, Hamilton, Winnipeg, and Sherwood Park. The CPS believes that the suspects made “double-spend” attacks. In such attacks, the..
Canadian banks showed hesitation concerning the management of insolvent cryptocurrency exchange QuadrigaCX’s assets. Canadian banks have showed hesitation concerning the management of insolvent cryptocurrency exchange QuadrigaCX’s assets, national public broadcaster CBC reports on Feb. 22. QuadrigaCX has faced financial difficulty following the sudden death of its founder Gerry Cotten, who was the allegedly only one with access to the exchange’s cold wallets. As Cointelegraph reported earlier this week, QuadrigaCX has sent its remaining crypto assets from its hot wallets to Big Four auditing firm Ernst & Young, the court-appointed monitor overseeing the case. During Friday’s court hearing, lawyers for the Bank of Montreal and the auditing firm reportedly said that the banks are uncomfortable managing the funds, citing the uncertainty of their origin. Elizabeth Pillon, a lawyer representing Ernst and Young, is quoted by CBC saying that she doesn't blame the banks for their hesitat..
A Nova Scotia supreme court justice has chosen the legal representatives for clients of Canada’s major crypto exchange QuadrigaCX. The Supreme Court of Nova Scotia has ordered Canadian law firms Miller Thomson and Cox & Palmer to represent customers of cryptocurrency exchange QuadrigaCX in upcoming proceedings. The ruling was announced in a court filing published on Feb. 19. On Tuesday, Justice Michael Wood rendered a decision that Miller Thomson and Cox & Palmer will act as lead counsel to represent the representative committee of users of Canada’s major cryptocurrency exchange Quadriga. Specifically, the representative counsel will be responsible for “managing communications with users; acting as user liaison for the monitor [Ernst & Young]; advocating for user interests before the court; identify[ing] potential conflicting interest amongst users; and advocating for user privacy.” In the filing, Wood says that the proceedings should concentrate on efficiency and cost effectiveness, ..
Canadian exchange Coinsquare has acquired StellarX, a Stellar-based zero-fee decentralized payment platform. Major Canadian crypto exchange Coinsquare has acquired StellarX, a Stellar (XLM)-based zero-fee decentralized payment network, according to a press release published on Feb. 14. According to the announcement, Bermuda-based StellarX will be a fully owned subsidiary of Coinsquare and will seek regulatory approval to operate and expand its service under Coinsquare’s compliance. The new acquisition has followed Coinsquare’s recent purchase of private Stellar wallet BlockEQ in December 2018, the press release notes. The firm is reportedly set to be rebranded to become the anchor wallet for the StellarX platform. Megha Bambra, co-founder of BlockEQ, will now lead StellarX and continue to develop the product roadmap announced by the network in 2018. Originally announced in July 2018, StellarX rolled out its full operation on Sept. 28, 2018. The company positions itself as fiat onramp,..
A Nova Scotia Supreme Court judge has delayed a decision on legal representation for clients of major Canadian cryptocurrency exchange QuadrigaCX. A Canadian judge has delayed a decision on legal representation for customers of major Canadian cryptocurrency exchange QuadrigaCX. The news was tweeted by Canadian Broadcasting Corporation reporter Jack Julian on. Feb. 14. On Thursday, Feb. 14, the Nova Scotia Supreme Court reportedly brought together over “a dozen” lawyers who represent 115,000 cryptocurrency traders owed around $260 million ($195 million) by Quadriga after the exchange’s founder’s, Gerald Cotten, passed suddenly. Specifically, the customers are seeking CA$70 million ($52 million) in cash and CA$190 million ($142 million) in Bitcoin (BTC) and other cryptocurrencies. Justice Michael Wood reportedly said that he would issue a written decision in the case within a week. In the meantime, the monitor appointed by the court, Ernst & Young, has revealed that at the current stage..
Crypto asset brokerage Voyager Digital — co-founded by the ex-CTO of Uber — has gone public on Canada’s TSX Venture Exchange. Crypto asset brokerage Voyager Digital — co-founded by the ex-CTO of Uber — has gone public on Canada’s TSX Venture Exchange. The news was announced in an official tweet from Voyager on Feb. 11. Shares are traded under ticker symbol VYGR.V, as a company blog post outlines. The listing comes following the completion of a so-called reverse takeover — also known as a reverse initial public offering or backdoor listing. Last week, Voyager had announced that its merger with former shell company UC Resources Ltd. was nearing completion. The moved allows the crypto brokerage to qualify as a TSX Venture Tier 2 Company. Generally, a reverse takeover occurs when a privately held company merges with a publicly traded company — thereby bypassing at least some of the bureaucratic scrutiny involved in the process of going public, including regulatory issues and due dilig..
The Ontario Securities Commission is reportedly “looking into” crypto exchange QuadrigaCX in connection to “the potential harm to Ontario investors.” The Ontario Securities Commission (OSC) has initiated a probe into Canada’s major cryptocurrency exchange QuadrigaCX, Reuters reported on Feb. 8. The Ontario Securities Commission reportedly told Reuters that “given the potential harm to Ontario investors, we are looking into this matter and have already been in contact with the monitor.” OSC spokeswoman Kristen Rose reportedly declined to specify whether this means the Commission was formally investigating the exchange. The news comes in the wake of the British Columbia Securities Commission’s claim that it does not regulate QuadrigaCX since the company has reportedly not shown signs of trading of securities or derivatives, or operating as an exchange in general. The aforementioned harm purportedly refers to the exchange’s missing funds in the amount of CA$190 million dollars ($145 mill..
The British Columbia Securities Commission reportedly said that it did not regulate crypto exchange QuadrigaCX, since it had no indication that it was trading in securities. Canadian cryptocurrency exchange QuadrigaCX is reportedly not regulated by the British Columbia Securities Commission (BCSC), the province’s financial regulator, Reuters reported on Feb. 7. Vancouver-based cryptocurrency exchange QuadrigaCX was established in 2013 and is purportedly the first exchange in Canada to be licensed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). According to Reuters, the BCSC was aware of Quadriga since 2017. However, the exchange was unregulated as there was reportedly no indication that Quadriga traded securities or derivatives, or operated as an exchange in general. “As such, BCSC does not regulate it,” a BCSC spokesman Brian Kladko reportedly told Reuters. In the beginning of February — following the sudden death of its 30-year-old founder Gerald Cotte..
Gerald Cotten, recently deceased CEO of Canadian QuadrigaCX, reportedly left all of assets to his wife. Gerald Cotten, the recently deceased CEO of major Canadian crypto exchange QuadrigaCX, had filed a will 12 days before his death, Bloomberg writes Tuesday, Feb. 5. According to the documents obtained by Bloomberg, Cotten signed his last will and testament on Nov. 27, 2018. He mentioned his wife, Jennifer Robertson, as the only beneficiary and the executor to his estate. Bloomberg has learned that Robertson will inherit several properties in Nova Scotia, where the couple lived, and in Kelowna, British Columbia, as well as a Lexus, a Jeanneau 51 yacht, an airplane and his two pet chihuahuas. Canadian crypto exchange QuadrigaCX has faced financial difficulty since its CEO Gerald Cotten reportedly died of complications from Crohn’s disease in December 2018. According to a January affidavit filed by Robertson, Cotten was the only person to have access to QuadrigaCX wallets, and the CEO h..
One of Canada’s top crypto exchanges, Coinsquare, is reportedly laying off almost 30 percent off its staff. One of Canada’s top crypto exchanges, Coinsquare, is reportedly laying off almost 30 percent off its staff, including its chief financial officer (CFO) and chief operating officer (COO). The news was reported by Canadian startup and technology news platform BetaKit on Jan. 31. Coinsquare did not return Cointelegraph’s request for comment or confirmation by press time. Citing multiple sources, BetaKit estimates the total number of redundancies at around 40 team members — representing 27 percent of the company’s formerly 150-head workforce. A LinkedIn post from Coinsquare’s head of talent, Martin Hauck, published yesterday, noted that “the ever-evolving digital currency/cryptocurrency space has been volatile and unpredictable,” and that Coinsquare is one of many industry firms being forced to make tough choices. BetaKit notes that some of the exchange’s top-ranked employees — incl..