The mystery surrounding the events that led to the loss of $190 Million in cryptocurrencies at the QuadrigaCX has led to multiple theories as to what might have happened at the exchange. Just days ago the CEO of Coinbase, Brian Armstrong, shared what his team thought had happened at the exchange.
At the core of Coinbase’s explanation of events, was that a June 2017 bug at QuadrigaCX was the beginning of all their woes. The multi-million bug triggered a sequence of actions by the management at QuadrigaCX that resulted in them attempting to trade the exchange out of the financial ‘hole’ caused by the bug. What the team at QuadrigaCX did not anticipate, is the now famous crypto bear market that added more problems and had them operating at a fraction of what was initially in their cold storage. With the untimely death of their CEO, management then allowed the firm to cut losses and declare that the funds were lost.
Kraken Offers $100,000 in Fiat for any Tips
With the $190 Million in crypto still unrecovered, Kraken has now announced that it will be issuing a $100,000 reward in fiat for any information that will lead to the discovery of the missing digital assets.
The official announcement by Kraken goes on to explain that since 2014, they have have been devoting significant resources to assist in the ongoing investigations to recover funds from the hack that crippled Mt. Gox. They explained that such events impact the entire industry and the team at Kraken wants to help as much as possible.
It is with this spirit of assisting the crypto community and improving the trading ecosystem that the exchange wants to help with the situation at QuadrigaCX.
Kraken wants to bring awareness and attention to this case, in hopes that we can help discover some or all of the missing client funds…
Do you know anyone who may know something that can help law enforcement locate the funds?
If so, let us know and we’ll pass your tips on to law enforcement. Kraken is giving up to $100,000 USD (fiat or crypto) as a reward for the tip(s) that best lead to the discovery of the missing $190 million US dollars.
Valuable tips to Kraken can be submitted via this online form.