Canada's largest cryptocurrency exchange Quadriga is due in court Tuesday as it seeks creditor protection in the wake of the sudden death of its founder and chief executive in December and missing cryptocurrency worth roughly $190-million.
The Vancouver-based exchange filed an application for creditor protection on Jan. 31 and the Nova Scotia Supreme Court will be asked on Feb. 5 to appoint a monitor to oversee the proceedings, according to a post on its website, which has been otherwise shut down.
Quadriga owes $70 million in currency and an additional amount of cryptocurrency valued at approximately $180 million, based on market prices in December, to roughly 115,000 users, it said in its application.
The Vancouver-based exchange filed an application for creditor protection on Jan. 31 and the Nova Scotia Supreme Court will be asked on Feb. 5 to appoint a monitor to oversee the proceedings, according to a post on its website, which has been otherwise shut down.
Quadriga owes $70 million in currency and an additional amount of cryptocurrency valued at approximately $180 million, based on market prices in December, to roughly 115,000 users, it said in its application.