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Old 06-24-2019, 09:54 PM   #522
Fuzz
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Quadriga was a massive scam.
Quote:
Cotten is said to have used 14 accounts under pseudonyms like Chris Markay, Aretwo Deetwo and Seethree Peaohh. About 95 per cent of the account activity identified by the auditors involved the Markay account, which saw deposits of CAD$220 million, 34,806 Bitcoin and 540,011 Ethereum between 2016 and 2018.
Ernst & Young said it only about one per cent of these deposits had supporting documentation, and concluded all the other deposits were "not represented by actual fiat or cryptocurrency."
While the Chris Markay account appears to have been funded with unsupported deposits, the report says, "real cryptocurrency was transferred out."
https://www.theregister.co.uk/2019/0...o_stole_money/
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