Blockchain records show that wallets have not sent BTC since at least April 2018.

QuadrigaCX, which was Canada’s largest crypto exchange, declared bankruptcy in April 2019 following the death in December 2018 of its founder and CEO, Gerald Cotten, who was solely responsible for the private keys of the exchange’s wallets.

About 155,000 users of the exchange were owed up to $200 million in cryptocurrency at the time of its bankruptcy.

In February 2019, a report from Ernst & Young — the Big Four accounting firm that oversees the holding of the exchange — stated that on February 6, 2019, QuadrigaCX had mistakenly transferred about 103 BTC to cold wallets that only the deceased Cotten had access to. The amount is roughly identical to the amount of Bitcoin transferred recently.

At the time, the company said it would work with the administration to retrieve cryptocurrency from cold wallets.

Related: The Regulatory Fate of Cryptocurrency Will Be Determined in the Next Year

The mysterious death of QuadrigaCX founder and CEO followed by the stock market crash has sparked conspiracy theories that the founder faked his own death as part of an exit scam.

The story was the subject of a 2022 Netflix documentary.

In 2014, years before his death, Cotten said in a podcast that the best way to keep private keys was to print them out and store them offline in a safety deposit box, revealing that the exchange stored its private keys offline in the company’s security deposit. box in a bank.

It is unknown if the BTC movement is related to the EY recovery effort. Cointelegraph contacted the company for comment but did not immediately receive a response.

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