update 19 August 2021

QuadrigaCX’s Cold Wallet Stakes 800 ETH in Ethereum 2.0 Deposit Contract

Crypto Adventure has learned about a wallet address associated with QuadrigaCX that has been staking ETHs in Ethereum 2.0 Deposit Contract. While going through Etherscan.io, we came across a peculiar address (0xd9518342a44e7dfdcd363f28f1ad19e568e2eb85) that staked 800 Ethers in total in the deposit address. These Ethers were staked with 25 different transactions of 32 ETHs. The given address still holds around 2000 ETHs worth $1.1 million.

According to investigations around the collapse of QuadrigaCX by Bloxy and CoinMonks, the given address is closely associated with the exchange, potentially a cold wallet. This new revelation gives another fire to theories suggesting the QuadrigaCX’s founder Gerald Cotten faking his own death.

As per the CoinMonks article on Medium titled “QuadrigaCX’s Collapse Was an Inside Job,” the investigation started with looking for addresses with a large residual balance that has interacted with the exchange’s hot wallet. Upon going through all the addresses, the article lists the five addresses with Ether’s highest balance. And guess what, one of these five addresses is the one we were looking for. The address 0xd951… which at the time of Coinmonks investigation held around 6502 Ethers is currently staking ETHs in Ethereum 2.0 Deposit Contract.

The address associated with QuadrigaCX that has been staking ETHs

The Saga of QuadrigaCX’s Scam

Earlier in January 2019, the Canadian exchange announced the sudden death of its CEO Gerald Cotten. Gerald apparently died while on his honeymoon in India with his wife. With his death, the exchange lost access to $190 million of funds as he was the sole owner of the private keys associated with the cold wallet. However, the investigations around the matter later revealed the exchange’s financial fraud and mysteries around the CEO’s death.

As the users complained of their funds being locked on the exchange, multiple investigations revealed that Gerald Cotten used the investors’ funds for his personal expenses. The investigations also shed light on mysterious circumstances around Gerald’s death and notes he may have faked his death. Several reports suggest even the agencies (RCMP & FBI) investigating the matter believe Cotten might not be dead.

Now, this new revelation points another finger to the whole QuadrigaCX saga and scamming of people’s hard-earned money. Hopefully, one day we’ll conclude these mysteries and face the truth.

For further read:

Ponzi Schemes, Private Yachts, and a Missing $250 Million in Crypto: The Strange Tale of Quadriga

“Death Fraud”

QuadrigaCX’s Collapse Was an Inside Job

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