QuadrigaCX creditors to receive 13% of their claims

Users of the bankrupt Canadian cryptocurrency exchange QuadrigaCX will receive 13% of their claims. Such calculations are provided in notification from the trustee Ernst & Young (EY).

Payments will be made based on market prices of the cryptocurrencies as of 15 April 2019. In total, 87% of EY’s available funds will be used for this.

According to the document, Quadriga owes 303.1 million CAD (~$222.3 million) to 17,648 creditors.

There are 15 claims worth more than CAD 1 million (~$733,000), and 28 claims worth between CAD 500,000 and CAD 999,999 (~$367,000–$733,000).

The tax authorities found that from 2016 to 2018 QuadrigaCX did not file returns and owes CAD 11.79 million (~$8.65 million) to the department.

The exchange collapsed in 2019 after the death of its co-founder Gerald Cotten. He was the sole holder of the private keys to the cold wallets. The platform turned out to owe users $171.5 million.

In February 2019 EY said that the exchange, due to an inadvertent error, lost another 103 BTC. The platform transferred assets to a cold wallet, access to which had been lost.

On 17 December 2022, these coins moved.