Officials seeking court order to compel Michael Patryn to detail how he acquired seized assets, including $250,200 in cash. Provincial officials in Canada are trying to force the surviving co-founder of defunct crypto exchange QuadrigaCX to explain how he came by a cash hoard, 45 gold bars and jewelry including a diamond-studded Rolex.
The Director of Civil Forfeiture in British Columbia on Wednesday sought a court order to compel Michael Patryn to detail how the seized assets — including $250,200 in cash — were acquired.
Read more here. (https://financialpost.com/fp-finance/cryptocurrency/bc-steps-up-probe-quadriga-cofounder-hoard-gold-rolex-cash)
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What happened to the QuadrigaCX exchange is considered to be one of the most baffling in the history of cryptocurrency and until now there remains to have big questions and concerns on the death of its young founder Gerald Cotten in 2018 while traveling to India due to complications from Crohn’s disease as he was the only person who can access access to passwords for the digital wallets with $180 million worth of value which left many investors scrambling on what to do. And now we have its co-founder Michael Patryn investigated on how he acquired some wealth raising some suspicions that the money was then coming from the exchange which he stole with the help of Cotten. I am hoping that investigators would not stop to dig into this matter so that something can be returned to those who lost money in QuadrigaCX. By the way, for those who are interested with the QuadrigaCX scandal there is a Netflix documentary tiled "Trust No One: The Hunt for the Crypto King" that you can explore.