HALIFAX — The revelation that the embattled QuadrigaCX cryptocurrency exchange recently lost track of more than $460,000 in crypto-coins has left some industry observers reeling with disbelief. “I’m totally gobsmacked … that such a thing could happen,” says Manie Eagar, CEO of Vancouver-based DigitalFutures, a business development consultancy that focuses on digital currency and blockchain technologies. Meanwhile, lawyers were expected to gather Thursday in a Halifax courtroom, where a judge will decide who will represent QuadrigaCX’s creditors. Insolvency expert Tim Hill said the case is highly unusual, given that QuadrigaCX has no offices, no employees and no bank accounts. The court order includes a standard 30-day stay of proceedings, which means creditors are prohibited from filing lawsuits against QuadrigaCX until the order expires.

Source: National Post February 13, 2019 21:33 UTC