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.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
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