Cryptocurrency News Today: Canada’s Revenue Agency is now curious about defunct crypto exchange QuadrigaCX’s tax returns
Canada’s Revenue Agency is now looking into the corporate tax returns submitted by QuadrigaCX, the troubled Cryptocurrency which collapsed earlier this year, taking approximately $134 million of users’ funds with it.
That’s according to the trustee overseeing bankruptcy proceedings, the Globe and Mail reports.
The exchange made headlines all over the world after its founder and CEO, Gerald Cotten, allegedly passed away in India from complications deriving from a chronic illness. He was thought to be the only person with access to the company‘s wallets, private keys, and passwords.
Following weeks of uncertainty, and adding to the mounting speculation, EY said in March that QuadrigaCX’s offline Bitcoin wallets were empty – aside from a single transfer of $400,000 in Bitcoin.
Although Quadriga’s demise has been shrouded in mystery, additional details have suggested that the exchange was doomed long before it collapsed and entered bankruptcy.
It reportedly did not follow basic business processes, failed to maintain financial accounts,