QuadrigaCX lenders require detailed disclosure of 103 BTC loss by the auditor

Users of the no longer in existence Canadian QuadrigaCX cryptocurrency exchange are demanding to understand the circumstances of an incident that led to the loss of 103 bitcoins in the process of recovery of their due funds.

In February, an audit firm, Ernst & Young, was appointed to monitor the movement of QuadrigaCX's remaining assets to protect creditors. At around the same time, the company reported that "Quadriga has inadvertently moved 103 bitcoins valued at approximately $468675 to its cold wallet, which it is currently unable to access. At the current rate of exchange, the value of the transferred assets exceeds $1 million.

Six months after the incident, the auditor did not provide detailed information regarding the reasons for the incident. Initially, the company claimed that the problem was the incorrect platform settings.

Lender of QuadrigaCX Ali Musavi said in a conversation with CoinDesk: "We consider these events to be a manifestation of negligence to be of the utmost importance. Many of us want to hold EY accountable. Instead of disclosing the details, they made a deal with Miller Thomson law firm to keep it a secret.

Lender Seetong Zhou said: "EY seems to be in no hurry to explain what happened, although that's the least they can do. After all, it's our money. A lot of people want to replace Miller Thomson, although I don't think that's going to happen.

Presumably, EY has managed to regain access to $25 million in assets. Another $9 million is intended to come from the sale of the exchange's property. $1.6 million was allocated by the judge to pay for the services of all the firms involved in the process.