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https://www.reddit.com/r/BitcoinCA/comments/an3ues/further_proof_that_michael_patryn_omar_patryn/
I just started reading up on this situation and I haven't had a chance to verify the claims being made in this thread, but if they're true....... Wow.
The entire situation looks shady as heck.
I barely have a few thousand in crypto and even I have a contingency in the event of my death.
This is a result of decentralized banking which is the driver for bitcoins. Too much risk and uncertainty. Just like Forex trading with brokers outside of institutional trading.
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never knew these guys were based out of novascotia... i guess not surprising that something like this happened... they apparently had some really shitty operating procedures. some of the stuff i heard about them just made me shake my head... like people being able to withdraw fiat from the exchange.... and be sent envelopes literally filled with cash via canada post
what a shitshow.... kinda feel bad for all the people who had funds tied up in there
edit for reference:
https://www.reddit.com/r/BitcoinCA/comments/70ib1l/quadriga_cash_withdrawal/
also edit for anyone who is into this whole bit of news (possibly too geeky for most people):
@zeroresearchproof/quadrigacx-chain-analysis-report-pt-1-bitcoin-wallets-19d3a375d389">https://medium.com/@zeroresearchproof/quadrigacx-chain-analysis-report-pt-1-bitcoin-wallets-19d3a375d389
there are rumors floating around that quadriga was not liquid.
ps: kind of surprised this showed up on the novascotia subreddit :P
I think if you're leaving money in an exchange longer than it takes to complete a transaction, you're missing the point of cryptocurrencies.
It’s almost like this entire “cryptocurrency” thing is a scam or something.
Well, how could the only guy who knew the password anticipate suddenly getting hit by a ... Crohn's disease ?
So, get your mining pool to mine for the password then. A gazillion guesses a minute should be able to find most passwords.
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Surely they can afford a forensics team to recover something that speeds up a crack.
Okay, passwords are crackable, right? They might have to buy some super computer time, but Thats totally worth it when there's 190 million sitting on the other side.
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