Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Ontario Securities Commission fraud and Ponzi-scheme finding
The Ontario Securities Commission concluded that Quadriga was operated fraudulently. Its findings said Cotten created accounts under aliases, credited fictitious currency and crypto-asset balances, and traded against unsuspecting customers using customer funds.
2019
Customer-asset shortfall and inaccessible wallets
After Cotten's death, Quadriga said that substantial customer cryptocurrency was inaccessible because he controlled key wallet credentials. Ernst & Young found that identified cold-wallet addresses were empty or did not contain the expected reserves, while customers reported being unable to withdraw funds.