Kraken Exchange Offers $100K Reward for Missing QuadrigaCX Crypto
Crypto exchange Kraken is offering up to $100,000 to anyone who can help solve this year’s biggest blockchain mystery: what happened to QuadrigaCX’s coins?
Thursday it would pay the reward to users who could help it locate the missing funds. Any tips sent to the platform will, in turn, be shared with law enforcement, the company said in a blog post. The reward is payable in fiat or cryptocurrency.
To participate, Kraken is encouraging users to listen to a pair of podcasts that outline both what is already known about QuadrigaCX, the Canadian crypto exchange that collapsed last month, as well as what Kraken’s operators believe happened.
“Kraken is giving up to $100,000 USD (fiat or crypto) as a reward for the tip(s) that best lead to the discovery of the missing $190 million US dollars,” Kraken’s post said.
In fact, according to court filings QuadrigaCX owes roughly 115,000 customers about $137 million in cryptocurrencies and another $53 million in fiat, or $190 million overall (though later filings indicate that there may be additional funds owed, bringing the total as high as $196 million).
The story so far
QuadrigaCX sought protection from creditors following the death of its founder, Gerald Cotten. , Cotten’s widow, Jennifer Robertsen, said that he was the only individual at the exchange who knew the private keys to its crypto reserves, which were held in cold storage.
Further, while the exchange indicated that the majority of its crypto funds were held in cold storage, it has so far not released any wallet addresses to confirm this.
may be associated with Quadriga, according to blockchain analysis, but those addresses only contain roughly 104 bitcoin “inadvertently” earlier this month.
So far, Quadriga and its court-appointed monitor, Ernst & Young (EY), have unlocked , which were held by various third-party payment processors, after a hearing before the Nova Scotia Supreme Court, which is overseeing the exchange’s case.
Kraken CEO Jesse Powell image via CoinDesk archives
Coinfirm to help Quanta develop strict anti-money laundering and counter-terrorism financing prevention methods and streamline compliance processes through the Coinfirm AML/CTF Platform.
LONDON, UK, December 7, 2017 – has announced its partnership with leading global regulation technology company to ensure being the first global and compliant blockchain lottery.
Quanta has enlisted Coinfirm to help identify and solve problems related to achieving and maintaining compliance and adhering to regulations. Through its API and structured reports, Coinfirm will help Quanta develop strict AML/CTF and fraud prevention methods, streamline the compliance process and give Quanta the ability to safely realize its potential and goals.
Gaming is one of the most heavily regulated industries in the world, and being a pioneer requires particular care and attention to established requirements. Achieving full compliance is one of Quanta’s most important goals and the company are taking significant steps to ensure success through a strategic alliance with .
Coinfirm is globally recognized for their Blockchain AML/CTF Platform that uses over 200 proprietary algorithms, risk flagging scenario’s and big data analysis to deliver structured, actionable data, increasing efficiency and streamlining compliance to near automation. The Platform also serves as the foundation for cryptocurrency and blockchain adoption by traditional financial entities and paves the way for mass markets. Headquartered in London, the company is establishing industry compliance standards for blockchain transactions thanks to its combination of cryptocurrency and blockchain technology expertise and experience working with major financial institutions, regulators, tech companies and start-ups.
Adam Vaziri, Chief Regulatory Officer at Quanta, commented:
We are very impressed with Coinfirm’s leading accomplishments in establishing compliance standards for blockchain and are certain that their Blockchain AML & Compliance Platform, expert knowledge and guidance will ensure mainstream trust and adoption for Quanta.
In addition to the specialized services provided and joint development, Pawel Kuskowski, the Co-Founder and CEO of Coinfirm will join Quanta as an advisor to intimately work with the project to ensure that Quanta becomes the first ever blockchain-based lottery that is fully compliant.
An entrepreneur and regulatory AML/CFT and compliance thought leader, Pawel is a former Global Head of AML/CFT/Sanction Functions for major international banks. He has over 14 years experience in the financial sector and is the Chairman of the Compliance Association of Poland. Pawel is also an innovator in the application of blockchain technology within financial systems and has extensive experience conducting global projects for international financial institutions that cooperate with supervisory authorities.
Kuskowski said:
I am really glad Coinfirm is bringing our AML/CTF Platform and compliance solutions to such a great project like Quanta, which will help push blockchain further into mass markets. I’m equally excited to personally advise and work hands on with Quanta on their further development and growth. The collaboration of our two companies is another notch for this ecosystem and its development.
The two companies are bringing the world its first regulated blockchain-based lottery and in doing so are establishing new levels of legitimacy for the whole blockchain ecosystem by raising standards and setting new benchmarks for the industry.
Coinfirm has also added another feature to the AML/CTF Platform with the release of their AMLT Token. The Token of Compliance, AMLT is designed to enhance transparency and democratization within the financial system by allowing market participants to help determine the potential risk of others as well as act as the utility token that allows the holder access rights to the Coinfirm AML/CTF Platform and a range of prepaid products. Currently in Pre Sale, the AMLT public token sale begins December 12th at 3 pm UTC and is available directly through the .
About Coinfirm
Coinfirm serves as a foundation for the safe adoption and use of blockchain. The Coinfirm AML/CTF Platform uses proprietary algorithms and big data analysis to provide structured, actionable data that increases efficiency, reduces costs and streamlines compliance to near automation. A recognized leader in their field and among the most influential blockchain and regtech companies, the blockchain agnostic platform benefits not only companies operating around blockchain but also major financial institutions, asset management, and BI companies. In addition, Coinfirm develops dedicated blockchain solutions such as their data provenance platform Trudatum, currently being piloted for adoption by multiple financial institutions. Trudatum is an easy to use blockchain solution to register and verify the ownership and authenticity of any type of document, file, or data. www.coinfirm.io
About Quanta
Quanta is a pioneering technology company that develops and implements breakthrough, blockchain-based products and services. Quanta is currently preparing for the global launch of their premier product – Quanta Lottery. The first fully compliant blockchain lottery in the world, Quanta is built on the Ethereum blockchain and utilizes smart contracts to ensure fully autonomous, manipulation-immune gaming. Developed with breakthrough RNG (random number generation), the first provably fair lottery can operate independently or by adopted as a white label solution. Quanta also actively researches the ways in which its proprietary technologies can be implemented by diverse fields and industries.
For more information about Quanta visit their or email them at info@quanta.im.
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