👀 QuadrigaCX chain analysis report (Pt. 1): Bitcoin wallets
Twitter user @ProofofResearch's chainanalysis claims that Canadian cryptocurrency exchange QuadrigaCX has no cold wallet storage and has in fact been using a highly inefficient and unorthodox hot wallet management system to mimic solvency. Analysis of known QuadrigaCX wallets and crowd-sourced transaction data shows a lack of data linking transactions back to a cold storage reserve. Further analysis reveals customer deposits were often needed to meet withdrawal demands. QuadrigaCX filed for credit protection last week.
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