According to Bloomberg, the Vancouver-based exchange owes its clients roughly $195 million in crypto.
Not only have efforts to recover money from Quadriga itself proved fruitless (EY recommended that any funds from the sale of the trading platform itself could be returned to shareholders), but attempts to recover more than $4.5 million in bank drafts and receivables held by third-party payment processors have also led to a dead end.
Though the report is more than 240 pages long, here's where it gets really interesting. Because EY discovered evidence that Cotten and/or Robertson may have embezzled money from Quadriga's clients, the company is recommending that all of the assets held by Robertson and Cotten's estate (of which she is the executor) be subjected to a "preservation agreement" - essentially, an asset freeze. Over time, this should help Quadriga's creditors eventually recoup at least some of their money.
https://twitter.com/davidgerard/status/1113165356875612162
https://www.bloomberg.com/news/articles/2019-04-02/quadriga-should-shift-to-bankruptcy-proceedings-monitor-says
Cryptocurrency Speculations Thread - NO BitCoin
Report Thread
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Stay away
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Warren Buffett wrote:
Stay away
Thanks, Warren.
I doubled down on Bitcoin 3 days before the recent April Fool's spike. Intuition? We can call it transcendent prescience.
The smaller cap cryptos will soon explode again. Best invest early, boys. -
Elon has been tweeting about the coin I've been touting here for YEARS: Dogecoin.
Get in now before you lose one of the biggest jumps since the crash. -
Harambe wrote:
Elon has been tweeting about the coin I've been touting here for YEARS: Dogecoin.
Get in now before you lose one of the biggest jumps since the crash.
You mean this guy?
https://www.youtube.com/watch?v=Z1U2x63aERw -
Thanks for information.
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I have pretty diverse portfolio, you can look......
http://www.coinparator.com/yKwJQH/
...and over the time it proved, that all coins are pretty much dependent on a BTC. So speculating out of BTC doesn't work in a long run. Maybe in a short run it would, if you trading on daily basis. But if you want to hodl for a months/years.....BTC. -
Actually I believe that 2019 is more easier than 2018 to predict and speculate cryptocurrency price, 2018 was really sad year for cryptocurrency we couldn't speculate because the price just went straight to the bottom but in 2019 we see a good condition right now because the price is going up since early april. More on cryptocurrency speculations on https://cryptolinks.com/cryptocurrency-exchange
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We have discovered a large scale security breach today, May 7, 2019 at 17:15:24 (UTC). Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info. The hackers used a variety of techniques, including phishing, viruses and other attacks. We are still concluding all possible methods used. There may also be additional affected accounts that have not been identified yet.
The hackers were able to withdraw 7000 BTC in this one transaction:
It impacted our BTC hot wallet only (which contained about 2% of our total BTC holdings). All of our other wallets are secure and unharmed.
The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time. The transaction is structured in a way that passed our existing security checks. It was unfortunate that we were not able to block this withdrawal before it was executed. Once executed, the withdrawal triggered various alarms in our system. We stopped all withdrawals immediately after that.
https://www.zerohedge.com/news/2019-05-08/bitcoin-dips-worlds-biggest-crypto-exchange-reveals-41-million-hack -
Ransomware works by locking up files using encryption so users can’t access them. The hackers then demand payment to provide the cyber keys to unlock the files, typically in the hard-to-trace digital currency bitcoin.
https://www.baltimoresun.com/news/maryland/politics/bs-md-ci-it-outage-20190507-story.html -
The note demanded payment of 3 Bitcoins (equivalent to about $17,600 at current prices) per system, or 13 Bitcoins (worth about $76,280) in exchange for freeing all the city’s systems.
Apparently that amount is too much for Baltimore to afford.
The note warned the city against calling the FBI, saying that would prompt the attackers to cut off contact. It also said that attempts to use anti-virus software would damage the city’s files. The ransomware’s procedures are automated, the note said, “so don’t ask for more times or somethings like that.”
“We won’t talk more, all we know is MONEY!” the note said. “Hurry up! Tik Tak, Tik Tak, Tik Tak!” -
Buffett's latest bitcoin comments
Warren Buffett's newest bitcoin comments seem even harsher. In an interview before Berkshire's annual meeting, Buffett called bitcoin "a gambling device" and also pointed out that there's been lots of fraudulent activity in the bitcoin world.
He also reiterated that bitcoin isn't a productive asset. That is, its value is based solely on the premise that someone else will eventually be willing to pay more for it. "It doesn't do anything. It just sits there. It's like a seashell or something, and that is not an investment to me," Buffett said.
Buffett compared bitcoin to a button on his jacket, saying, "I'll tear off a button here. What I'll have here is a little token. ... I'll offer it to you for $1,000, and I'll see if I can get the price up to $2,000 by the end of the day. ... But the button has one use and it's a very limited use."
In other words, bitcoin has limited real-world usability -- at least for the time being.
https://www.ibtimes.com/heres-what-warren-buffett-just-said-about-bitcoin-2790240
