CriptoFácil – In the middle of the currency crisis cryptocurrencies, even the dead come back to life. QuadrigaCX, the Canadian exchange that went bankrupt in 2019, looks miraculously revived, with one of its five wallets moving 104 Bitcoins ().

According to blockchain sleuth ZachXBT, one of the five wallets assigned to the exchange moved the amount on December 17. In current values, the BTC moved corresponds to approximately 9.2 million BRL. It was the first time in three years that QuadrigaCX transferred its funds.

In fact, the address made two moves, the main one being 104 BTC. A second transaction moved 69 BTC from two addresses to the Wasabi cryptocurrency mixer. In other words, whoever moved the BTC probably wanted to hide their origin and identity.

But how?

The big issue with this move is how it happened after what happened with QuadrigaCX. The exchange declared bankruptcy in 2019 following the death of its founder, Gerald Cotten, who had access to the wallets’ private keys.

However, Cotten reportedly left no copy of the password with anyone, not even his wife. Soon his death made BTC virtually inaccessible as there is no way to recover a wallet password.

Therefore, any movement of funds related to the exchange raises several theories, as Cotten is believed to be dead. But the movements may have other less excused reasons behind them.

For example, in 2019, after the bankruptcy of QuadrangaCX, the audit firm EY was appointed by the Court to handle the file. EY described that QuadrigaCX moved 103 BTC, but the company was unable to access this money at the time.

According to EY, the BTCs were transferred to cold wallets inaccessible by the company. These active wallets are the same ones that were linked back then. But if EY managed to regain access, why would they send BTC to a mixer?

Who Moved Bitcoins?

A member of QuadrigaCX’s creditors’ committee, Magdalena Gronowska, said EY was not involved in the currency movement. So anyone who accessed the funds would need the private key.

Thus, the motive for moving these Bitcoins is still unclear. And again, there are theories about Gerald Cotten himself. To this day, many investors believe that the QuadrigaCX founder faked his own death to steal his clients’ funds.

Cotten was on tour in India when she died, as she said, of an autoimmune health complication. Later, his widow claimed she had no access to his business records or passwords. The story became a documentary titled Trust No One: The Hunt for the King of Cryptocurrencies, produced by Netflix (NASDAQ:).

By CriptoFacil