Quadriga only has $21m but owes creditors $160m

Pedro Gonçalves
clock • 2 min read

QuadrigaCX, the Canadian crypto exchange that collapsed after the death of its CEO and founder late last year, has just $21m in assets, but owes creditors $160m, an investigation by Ernst and Young revealed. After three months of investigating, the accounting firm has issued a trustee's preliminary report saying it may not be possible to complete a full review of QuadrigaCX's finances, mainly because of the company's poor bookkeeping. So far it has found just $21m in assets, virtually all of it in cash. The report says the investigation has been hampered by some of QuadrigaCX's unco-o...

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