After being dormant for years, five wallets connected to the now-defunct Canadian cryptocurrency exchange QuadrigaCX have recently been seen exchanging almost $1.7 million worth of <a href="https://www.cryptoknowmics.com/news/nigeria-plans-to-approve-law-recognising-crypto-and-bitcoin">Bitcoins</a>.
<h2>QuadrigaCX Reignites After Years of Dormancy</h2>
ZachXBT, a crypto researcher, <a href="https://twitter.com/zachxbt/status/1604953664719683585?" target="_blank" rel="nofollow noopener">warned</a> the market on December 19 in a tweet by mentioning five wallets that exchanged about 104 Bitcoins on December 17 to other wallets. According to <a href="https://www.cryptoknowmics.com/news/binaryx-introduces-cyber-incubation-fund-to-support-blockchain-games">blockchain</a> data, the wallets have not transferred Bitcoin since at least April 2018.

https://twitter.com/zachxbt/status/1604953664719683585?

Gerald Cotten, the company's founder, and CEO, who was only in charge of the secret information about the exchange's wallets passed away in December 2018. QuadrigaCX, formerly Canada's biggest cryptocurrency exchange, filed for bankruptcy in April 2019. At the time of its insolvency, around 155,000 exchange customers owned up to $200 million in <a href="https://www.cryptoknowmics.com/news/amber-group-acquires-300-million-via-fundraising">cryptocurrency</a>.
<h2>Collaboration With Management</h2>
According to a study from Ernst &amp; Young, one of the Big Four accounting firms in charge of the exchange's estate, QuadrigaCX unintentionally moved about 103 bitcoins to cold wallets on February 6, 2019, which only the deceased Cotten could access. The amount is nearly comparable to the volume of Bitcoin that has lately changed hands.

The company declared at the time that it would collaborate with management to get the cryptocurrency out of the cold wallets.

QuadrigaCX $1.7 Million Bitcoins Reignites After Years of Hibernation

After being dormant for years, five wallets connected to the now-defunct QuadrigaCX have recently been seen exchanging bitcoins worth almost $1.7 million.

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QuadrigaCX $1.7 Million Bitcoins Reignites After Years of Hibernation

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