Judge Rules in Favor of Canadian Bank in Dispute With Crypto Exchange
Cointelegraph
Published Nov 13, 2018 08:32PM ET
Updated Nov 13, 2018 08:42PM ET
Judge Rules in Favor of Canadian Bank in Dispute With Crypto Exchange
A $19.6 million disputed sum between Canada’s largest crypto exchange QuadrigaCX and the Canadian Imperial Bank of Commerce (CIBC) has been handed into the custody of the Ontario Superior Court, per a court document filed Nov. 9.
On Oct. 8, Canadian newspaper the Globe and Mail reported that Vancouver-based QuadrigaCX had been experiencing difficulties accessing $16.3 million of its funds since January, when CIBC froze five accounts belonging to the exchange’s payment processor, Costodian Inc., and its owner, Jose Reyes. The bank purportedly froze the accounts due to an inability to identify the funds’ owners.
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Written By: Cointelegraph
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