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QuadrigaCX Bitcoin Moved After Multiple Years Frozen

Author

Jonathan Gibson

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Reading time

3 mins
Last update

Author

Jonathan Gibson

Tags

Reading time

3 mins
Last update

Author

Jonathan Gibson

Tags

Reading time

3 mins
Last update

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Bitcoin (BTC) linked to the QuadrigaCX exchange moved for the first time in years. This has created speculation about what happened to these funds and whether they were really frozen or not. It is worth pointing out that QuadrigaCX was a cryptocurrency exchange from Canada that suddenly stopped operating due to the death of its founder, Gerald Cotten, in 2018. 

Bitcoin Linked to QuadrigaCX Move

We all remember the QuadrigaCX collapse in 2018 when its founder Gerald Cotten suddenly died when he was on a trip in India. With his death, the private keys to access the crypto exchange’s wallets were lost forever. He did not leave any information about how to access the funds of the crypto exchange, and this resulted in thousands of users losing their funds forever. 

This has sparked multiple questions about what really happened to him and whether the private keys were held by another person or not. Since that moment, funds linked to QuadrigaCX have been followed and tracked, but only some of these funds to which some parties had access were moved. 

Now, in a recent Twitter post, ZachXBT revealed that five wallets attributed to QuadrigaCX unexpectedly moved close to 104 BTC on December 17th for the first time in years. These wallets were the following:

1ECUQLuioJbFZAQchcZq9pggd4EwcpuANe

1J9Fqc3TicNoy1Y7tgmhQznWrP5AVLXj9R

1MhgmGaHwLAvvKVyFvy6zy9pRQFXaxwE9M

1HyYMMCdCcHnfjwMW2jE4cv9qVkVDFUzVa

1JPtxSGoekZfLQeYAWkbhBhkr2VEDADHZB

One of the wallets that were used to send funds seems to have sent funds to Wasabi, exactly on December 17. This shows that there is someone that we do not know using these wallets that could be linked to QuadrigaCX. 

It is also worth mentioning that the Reddit user Decoze was the person in charge of establishing the link between these wallets and the cryptocurrency exchange. 

It would be interesting to understand what happened with these wallets, as it seems that they were not correctly categorized as QuadrigaCX wallets. There is a person or institution that has access to these funds unless there was a way for those in charge of these wallets to find the private keys of these wallets. 

Wasabi is a non-custodial software wallet that works with Bitcoin (no other virtual currencies) and that makes it possible for users to have enhanced privacy features. One of the main benefits is related to the coinjoin offered by Wasabi, making Bitcoin more private and secure for people to protect their identities online. 

Despite the fact that Wasabi wallet enhances Bitcoin’s security and privacy, it is still possible to find information about those transactions and get a clear idea of what happened with these funds. Multiple users will request information and will be in charge of searching for an explanation of what happened with these wallets and whether they were linked to the QuadrigaCX crypto exchange. 

One thing is clear, after multiple years since QuadrigaCX went bankrupt, there are multiple things that remain without an answer. These recent transactions that could be linked to the crypto trading platform are adding additional questions to the whole case linked to QuadrigaCX.