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Vandana Malik
May 13, 2020
by Vandana Malik

QuadrigaCX Trustee EY Receives 17,000 Proof of Claim From Creditors

QuadrigaCX
QuadrigaCX which was one of the largest crypto exchanges of Canada was closed down back in 2019 due to bankruptcy. Due to this, a huge amount of investors have lost their money in it. Now, the trustee of QuadrigaCX, Ernst & Young, EY has received around 17,000 proof of claims from the creditors. These claims are divided in various fiat and cryptocurrencies and the creditors are demanding for the reclaim of all the lost assets.

This has been revealed from the detailed status report by EY on May 12. According to the report, the company has received around 17,000 claims from the creditors by May 06. There are various fiat and cryptocurrencies included in these claims including the prominent ones like US Dollars, Canadian Dollars, Bitcoin, Ether, Bitcoin Cash and many others.

EY noticed the tax liabilities of QuadrigaCX 

While analyzing all the claims of the creditors, EY has also noticed all the tax liabilities of QuadrigaCX. The firm has revealed that the corporate tax liabilities of the firm are still unknown. This is because the firm was unable to file its tax returns even before the bankruptcy. It is necessary for the firm to resolve all the outstanding liabilities of the firm before giving any reclaim to the creditors.

Crypto users doubtful about the bankruptcy story

It also came out that various crypto users are quite doubtful about the bankruptcy story of QuadrigaCX. A lot of them believe that the CEO of the exchange Gerald Cotten who was claimed to be dead is still alive. In this survey, almost 90% of the people have agreed that his body should be taken out and autopsied because only then it will be proved whether he died or not. Back in 2019, EY released a report in which it clearly showed all the liabilities and assets of QuadrigaCX by April 2019.

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    QuadrigaCX Trustee EY Receives 17,000 Proof of Claim From Creditors
    Vandana Malik
    Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

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