The deceased founder of the QuadrigaCX crypto exchange, Gerald Cotten, used his own money to pay clients during the proceedings with banks, his widow Jennifer Robertson said.
According to her, Kotten took this step after the Canadian Imperial Bank of Commerce (CIBC) froze the Fiat assets of the exchange in 2018, without being able to confirm their owner.
“Although I don’t know exactly how Gerry was running the business, he told me that he invested his money in QCX to satisfy users’ withdrawal requests in 2018 while the money in CIBC was frozen. I think that Gerry did this in the interests of the business and was worried about his clients, ”law firm Stewart McKelvey handed her statement.
Stewart McKelvey will no longer represent the interests of the exchange, after the court-appointed controller Ernst & Young (EY) came to the conclusion that there was some conflict of interest, Robertson added. "The controller did not dedicate me to the details," the statement said.
To date, attempts by QuadrigaCX and other participants in the process to find multi-million dollar cryptocurrency assets of users of the exchange have not brought success. Last week, the court agreed to provide the company with protection against creditors' claims for another 45 days.
