In line with an official recent ‘web-blog‘ post published, earlier Bitcoin [BTC] withdrawals from the now alleged QuadrigaCX exchange were analysed by Reddit users claiming that some transactions came from other exchanges.
The users added that before they realised that the addresses were owned by the exchanges, they found that amongst them, some addresses seemed on multiple HYIP [High Yield Investment Programs], amatorial ransomware analysis and a post regarding lost funds by another Reddit user.
Additional examination suggests that this implies that individuals transferred funds from exchanges to HYIP Ponzi schemes, and that hackers tried to cash in money attained with ransomware via those exchanges.
QuadrigaCX has earlier also ‘filed‘ for creditors protection after the death of its founder earlier in Dec. last year, leading to a loss of access to its cold wallets.
However, a recent report by the WSJ [Wall Street Journal] earlier in February ‘revealed‘ that the funds might actually be missing, rather than inaccessible.
The Reddit users’ recent findings are seemingly in line with another report, discharged earlier in March, that QuadrigaCX in all probability ‘held‘ a major quantity of Ethereum [ETH] in alternative cryptocurrency exchanges instead of cold wallets. Within this analysis, the author mentioned that almost 650,000 Ethereum [ETH] owned by QuadrigaCX were possibly held on the Kraken, Bitfinex as well as the Poloniex crypto-currency exchanges, but however didn’t mentioned the names of Bittrex or HitBTC.
As ‘reported‘ earlier within this week, the exchange has conjointly presently been formally declared bankrupt.