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According to reports, QuadrigaCX lost around 104 BTC

CJ - Cryptocurrency Enthusiast 

  • Chainalysis has noted that the QuadrigaCX has lost over 104 BTC

  • The majority of BTC was transmitted to Wasabi, a well-known wallet mixer

  • Similar unexpected BTC moves were seen by Chainalysis this year

Chainalysis, a crypto research firm, has noticed that more than 104 Bitcoins have left the defunct cryptocurrency exchange QuadrigaCX, which may be a sign of the undead. The bulk of the 104 Bitcoin investment, or the most well-known cryptocurrency, were transmitted to Wasabi, a well-known wallet mixer.

Chainalysis posted a Reactor graph on Twitter, revealing that about 69 BTC had been delivered to Wasabi. Nearly 24 and 10 BTC were transmitted to two more anonymous wallets concurrently. Chainalysis noticed similar unexpected BTC moves on other sites. Despite being shut down by US authorities in 2017, BTC-e, a cryptocurrency trading site, exchanged $165 million worth of Bitcoin in November, according to Chainalysis.

Analyzing the BTC movements following the shutdown, Chainalaysis asserted that BTC-e had regularly transferred the initial cryptocurrencies in order to pay them out or save them for later usage. The second-largest BTC payment from the shuttered cryptocurrency exchange was in 2021 when BTC-e sent over 100 Bitcoin worth approximately $6 million. The Board of Directors of QuadrigaCX sent a message to its clients before the end of January. According to the statement, a request for creditor protection under the Companies' Creditors Arrangement Act (CCAA) was made in the Nova Scotia Supreme Court in order to address the serious financial problems the insolvent cryptocurrency trading platform was experiencing. BTC fluctuations, however, were seen from QuadrigaCX.

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