Kraken Offers $100K Reward For Information on QuadrigaCX Case

With conspiracy theories still abounding, cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Kraken has decided to wade into the murky waters surrounding the QuadrigaCX scandal.

In a short email sent to clients, the Cryptocurrency Exchange Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f Read this Term said that it wants to bring more attention to the QuadrigaCX case.

The exchange plans on doing that by paying $100,000 to anyone that provides it with information that will lead to the finding of $190 million in missing funds.

For those of you who are unfamiliar with the story, at the end of January, QuadrigaCX, a Canadian cryptocurrency exchange, suddenly shut down.

It’s estimated that the company had around 115,000 clients and that the exchange was holding approximately $190 million in deposits.

After shutting down, QuadrigaCX then said that its CEO, Gerald Cotten, was dead, having fallen ill while on a trip to India in December.

The exchange also said that Cotten alone had access to most of the cryptocurrency held by the company.

Since then, conspiracies, including the claim that Cotten faked his death, have spread across the internet like wildfire.

Kraken only paying money for genuine information

And now, in a move definitely not aimed at boosting its own profile, Kraken has stepped into the mix.

The exchange says that it will pass on any details it receives to the FBI or the Royal Canadian Mounted Police.

Anyone that passes on details to the exchange will only be rewarded if the details they provide either lead to police finding the funds or help them make substantial progress in the case.

The money will be paid out in fiat currency or, if the person prefers, in cryptocurrency.

“Kraken wants to bring awareness and attention to this case,” said the cryptocurrency exchange in an email sent on Friday, “in [the] hope that we can help discover some or all of the missing client funds.”