Blockchain
QuadrigaCX funds are suddenly moving after three years
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Multiple Bitcoin wallets linked to cryptocurrency exchange QuadrigaCX have moved funds after being dormant for three years. These wallet addresses transferred the funds on December 16th and December 17th.
QuadrigaCX funds transferred
The movement of these funds was detected by ZachXBT, which estimated That 104 BTC, worth about $1.7 million at current prices, was transferred. Of this number, 69 BTC were sent to cryptocurrency mixing service Wasabi.
Funds were transferred using four Bitcoin wallet addresses. These wallets have been dormant since February 2019. This is when QuadrigaCX, a Canadian cryptocurrency exchange, started bankruptcy proceedings.
In 2019, when QuadrigaCX filed for bankruptcy protection, the exchange’s bankruptcy trustee, Ernst and Young, mistakenly sent 103 BTC to a wallet address they could not access. After announcing the false transfer to the public, the crypto community identified the wallet addresses used in the transaction and those belonging to the Canadian exchange.
According to a report before CoinDeskErnst & Young did not initiate these transfers. Furthermore, Magdalena Gronowska, a member of the QuadrigaCX Bankruptcy Commission, said the bankruptcy trustee did not move the funds.
Grunowska also said that the bankruptcy commission knows that this money was transferred. The committee was looking for more information about the transactions, hoping to recover the stolen money.
QuadrigaCX bankruptcy
QuadrigaCX is a cryptocurrency exchange that filed for bankruptcy in 2019. The company filed for bankruptcy following the death of its founder and CEO, Gerald Cotten. At the time of the stock crash, QuadrigaCX was the largest cryptocurrency exchange in Canada. The exchange owes thousands of customers $200 million in various cryptocurrencies.
During its early reporting after filing for bankruptcy protection, Ernst & Young said Cotton was the sole owner of the exchange and the only person with access to the exchange’s funds. According to investigators, Cotton did not perform proper record-keeping, which is why it took years for the exchange’s clients to be compensated.
Investigators were looking into stolen exchange funds and regulatory non-compliance. The Canada Revenue Agency is looking into QuadrigaCX and whether the exchange filed taxes in a timely manner. People close to the matter admit that the tax investigations were part of the reason the bankruptcy case persisted
The mysterious death of QuadrigaCX founder and CEO has sparked many conspiracy theories, with some saying Cotton faked his death as part of an exit scam as the exchange’s financial troubles began. The events surrounding Cotton’s death and the stock market’s bankruptcy were the subject of a Netflix documentary released this year.
Before his death, Cotton revealed that one of the best ways to store private keys is to print them out and store them in a safety deposit box. He also revealed that the exchange stores its private keys offline in a safe deposit box at a bank.
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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.
Bancor Prediction Statistics Data:
- Bancor price now – $0.34
- Bancor’s market capitalization is $55.8 million
- The circulating supply of Bancor – 162.5 million
- The total supply of Bancor – 162.5 million
- Bancor Coinmarketcap Ranking – #287
BNT/USD market
Key levels:
Resistance levels: $300, $310, $320
Support levels: $130, $120, $110
BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.
Bancor Price Prediction: Bancor is preparing for an upward movement
According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.
However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.
Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.
However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.
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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.
dYdX prediction stats data:
- DYDX price now – $1.10
- DYDX market capitalization – $72.7 million
- Circulating supply of DYDX – 65.5 million
- Total supply of DYDX – 1 billion
- DYDX Coinmarketcap Rank – #198
DYDX/USD Market
Key levels:
Resistance levels: $2.00, $2.20, $2.40
Support levels: $0.50, $0.30, $0.10
DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.
dYdX Price Prediction: DYDX is ready for an uptrend
the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.
Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).
Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.
Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.
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- Active pre-sale is live now – dash2trade.com
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