Major crypto exchange Kraken announced on 28 February about its initiative to investigate the case of QuadrigaCX and also offer a monumental reward for the best tip-off.
Kraken started off explaining the desire of individuals to make use of cryptocurrencies for greater financial freedom and outreach to facilities. Kraken then highlighted its presence to provide users a great experience with its exchange.
Kraken expressed its intent in this investigation by citing –
“Since 2014 we have invested significant resources and lent our crypto expertise to the MtGox trustee and investigators, supporting the return of as much client funds as possible and as soon as possible. Events like this impact the entire industry, which is why we want to get involved if there’s a way we can help.”
Kraken explained about the latest issue stating that about a month ago, QuadrigaCX (a Canadian crypto exchange with clients around the world) stopped operations. Seven weeks before this halt, QuadrigaCX CEO passed away suddenly and untimely, leaving the business without a proper roadmap. As construed, he was the only person who knew the details of the client funds (fiat and crypto) totaling approximately 190 million U.S. dollars (belonging to 115,000 clients).
Kraken also stated that some people believe the sequence of events as being suspicious by judging the occurred circumstances. Kraken’s stand, however, is to build awareness and visibility to the case in a bid to recover partial or whole of the missing client funds.
In an effort to demystify the case, Kraken also released two podcasts for individuals keen on learning more about the case. The episodes titled as ‘Chasing the Conspiracy (what we may know)‘ and ‘Solving the Conspiracy (what we think happened)‘ are a worthy watch. Kraken banking on its own mastery as an exchange operator has revealed its analysis and insider assessment into feasible theories.
Kraken concluded its blog by offering a reward of 100,000 U.S. dollars (in either fiat or crypto) for the best ingenuity that can lead to the discovery of the missing funds. Kraken even shared a portal link for posting tips or ideas. The crypto exchange vouched that it remains committed to supporting law propriety and looks forward to cooperation from the general public for supporting its cause.