2 weeks ago
Cryptocurrency News

Bitcoin Eyes $4,000 Mark; Quadriga Cold Wallets Found Empty

Investing.com - Cryptocurrency prices continued to rise on Wednesday, with Bitcoin reaching a one-week high and eyeing the $4,000

Investing.com - Cryptocurrency prices continued to rise on Wednesday, with Bitcoin reaching a one-week high and eyeing the $4,000 mark once again. Meanwhile, it appears the cold wallets said to have contained the missing funds of Canadian exchange Quadriga are actually empty.

Court-appointed monitor Ernst & Young found that the cold wallets that supposedly contained the digital currencies and were lost when Quadriga’s CEO died unexpectedly in December are empty.

In fact, no deposit was made into the cold wallets since April 2018, except for one, which was emptied of its contents on Dec. 3, 2018, the report found.

E&Y says there is evidence that there are other accounts which may have been used to trade on the exchange and are offering a $100,000 reward for information on where Quadriga’s cash has gone.

The exchange owes CA$180 million dollars ($135.39 million) to users and faces multiple lawsuits over the missing funds.

Bitcoin gained 2.56% to $3,845.10 as of 8:30 AM ET (13:30 GMT) on the Investing.com Index.

Cryptocurrencies overall were higher, rising to $132 billion at the time of writing compared to $128 billion on Tuesday.

Ethereum rose 5.9% to $137.14 and XRP increased 1.7% to $0.31394 while Litecoin was at $54.596, up 10%.

In other news, hacked New Zealand crypto exchange Cryptopia is back online. The platform lost almost 10% of its assets after hackers stole coins from the exchange in early January. At the moment the website is in read-only mode and will introduce cancel-only mode before full operations recommence.