Cryptocurrency has faced more than its fair share of catastrophes, nearly all of which seemed as though they might end or at least seriously impede the continued growth of the sector. Yet despite the many “teachable moments,” the social layer of crypto refuses to learn its lesson and continues to place its trust in the hands of individuals rather than fully utilize the technologies it claims to support. Since the early days of the industry, crypto has faced major blows at the hands of centralized actors — Mt. Gox, which handled 70% of global Bitcoin transactions, lost track of 25,000 …

Five wallets tied to the defunct Canadian cryptocurrency exchange QuadrigaCX, previously thought to be inaccessible, have just been spotted moving around $1.7 million worth of Bitcoin after years of dormancy. Crypto researcher ZachXBT alerted the crypto community in a Twitter post on Dec. 19, highlighting the five wallets have transferred around 104 Bitcoin (BTC) on Dec. 17 to various wallets. Blockchain records show the wallets had not sent BTC since at least April 2018. Five wallets attributed to QuadrigaCX unexpectedly moved ~104 BTC on Dec 17 for the first time in years. 1ECUQLuioJbFZAQchcZq9pggd4EwcpuANe 1J9Fqc3TicNoy1Y7tgmhQznWrP5AVLXj9R 1MhgmGaHwLAvvKVyFvy6zy9pRQFXaxwE9M 1HyYMMCdCcHnfjwMW2jE4cv9qVkVDFUzVa 1JPtxSGoekZfLQeYAWkbhBhkr2VEDADHZB — ZachXBT (@zachxbt) …

Netflix’s new crypto documentary titled "Trust No One: The Hunt for the Crypto King'' was released on 30 March amid much fanfare. The documentary is based on the mysterious death of the now defunct crypto exchange QuadrigaCX founder. The founder of the crypto exchange allegedly died on a trip to India. Along with him, he took away the whereabouts of the keys to crypto wallets containing $250 million worth of cryptocurrencies. Unofficial investigations and numerous conspiracy theories followed the mysterious disappearance/death of the QuadrigaCX founder. The Netflix investigative documentary aims to clear some mystery around the high-profile crypto case that …

The co-founder of the embattled Wonderland decentralized finance project is preparing to pull the plug following a deeply divided community vote. On Jan. 30, Wonderland co-founder Daniele Sestagalli tweeted that the Avalanche-based reserve currency experiment is coming to an end. He added that the divided community “means that we failed.” The vote to save or wind down the project came after Sestagalli asked former partner and Wonderland treasury head Michael Patryn (who goes by the pseudonym ‘0xSifu’) to step down late last week. Patryn, who has changed his name on a number of occasions, was sensationally revealed on Jan. 27 …

In a series of twitter posts published Jan. 27, decentralized finance (DeFi) investigator zachxbt seemingly unveiled the true identity of previously anonymous QuadrigaCX co-founder Michael Patryn, doxxing him to be that of @0xSifu, the founder of DeFi protocol Wonderland. 1/ This needs to be shared @0xSifu is the Co-founder of QuadrigaCX, Michael Patryn. If you are unfamiliar that is the Canadian exchange that collapsed in 2019 after the founder Gerald Cotten disappeared with $169m I have confirmed this with Daniele over messages. pic.twitter.com/qSfWNnQPhr — zachxbt.eth (@zachxbt) January 27, 2022 Following the publication of private messages between zachxbt and Daniele Sesta …

Online streaming platform and production company Netflix will be producing a film on deceased crypto exchange QuadrigaCX founder Gerald Cotten. In a Thursday tweet from Netflix, the platform announced that the documentary Trust No One: The Hunt for the Crypto King will premiere in 2022. The story, which follows “a group of investors turned sleuths,” will focus on the events around the death of Cotten, who reportedly died while doing volunteer work at an orphanage in India, leaving QuadrigaCX users out of pocket for roughly $190 million in crypto. Details are sparse regarding the casting or direction the documentary takes, …

Ernst & Young, the trustee of controversial failed cryptocurrency exchange QuadrigaCX, revealed it only has roughly $29.8 million in funds to distribute to claimants, despite receiving $171 million worth of claims. In a Nov. 6 update filed with the Ontario Superior Court of Justice, EY revealed it has received 17,053 claims from customers who had entrusted their funds with the Canadian exchange. The claims include nearly $90.2 million in Canadian dollars and more than $6 million worth of cryptocurrency, including 24,427 Bitcoin (BTC), 65,457 Ether (ETH), 87,031 Litecoin (LTC), 7,723 Bitcoin Cash (BCH), 17,934 Bitcoin Gold (BTG) and 7,098 Bitcoin …

The Canadian law firm representing creditors of the defunct crypto exchange QuadrigaCX has hired consultancy firm Kroll to advance its investigation into $190 million lost in user assets in early 2019. As reported, controversy has engulfed QuadrigaCX following the death of its founder, Gerald Cotten, in December 2018, who had purportedly been the sole person with access to the exchange’s cold wallet holdings. In a notice to creditors on Sept. 8, Miller Thomson said that Kroll will be working in collaboration with its strategic partner, Coinfirm, which specializes in blockchain forensics and anti-money laundering (AML) compliance. Coinfirm is the developer …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin price drop to key $9,000 support could place the uptrend in peril Will the drama surrounding BTC’s price ever end? Probably not any time soon. This week, Bitcoin fell $800 in a matter of hours to reach lows not seen since May 28. That came after yet another unsuccessful attempt to gain firm support …

Editor’s note: These are times strange enough that every conversation seems to include some verbal acknowledgment like “strange times, huh?” A quasi-anarchist police-free leftist separatist bubble has formed and is growing on Seattle’s Capitol Hill — a sentence that resembles a David Foster Wallace plot more than anything I ever anticipated treating as news. Both India and Russia have been hemming and hawing over long-discussed crypto bans, while the latter will be voting on controversial constitutional amendments allowing Vladimir Putin to extend his already 20-year term as president of the Russian Federation. This vote will reportedly be happening on a …

The Ontario Securities Commission, or OSC, claims that the crypto exchange Quadriga collapsed in 2018 because of fraud committed by its late founder, Gerald Cotten, who passed away on his honeymoon in India. The report released on June 11, revealed by CBC Canada, says Cotten opened several accounts under aliases and credited himself with “fictitious currency,”. He traded this currency with unsuspecting clients of his Vancouver-based crypto exchange. The deceased Quadriga founder was unable to meet his client’s withdrawal requests when the price of crypto assets fell. He then created a Ponzi scheme, covering the demand using funds from other …

Toronto-based cryptocurrency exchange, Bitbuy, now offers full insurance on all Bitcoin (BTC) deposits in an apparent first for the industry, according to a press release shared with Cointelegraph on May 27. The platform claims that the full value of its Bitcoin cold storage holdings is insured as a result of a partnership with Knox, a Canadian Bitcoin custody provider which normally caters to institutional investors and service providers. “The funds that Bitbuy are transferring into our custody system are insured for the full value of the holdings, and this is effective immediately,” Knox CEO Alex Daskalov told Cointelegraph. According to …