The trustee of the controversial failed cryptocurrency exchange QuadrigaCX, Ernst & Young (EY), has revealed that it only has roughly $29.8 million in funds to distribute to claimants, despite receiving $171 million worth of claims.
In a Nov. 6 update filed with the Ontario Superior Court of Justice, EY revealed it has received 17,053 claims from customers who had entrusted their funds with the Canadian exchange.
The claims include nearly $90.2 million in Canadian dollars, and more than $6 million worth of cryptocurrency including 24,427 Bitcoin (BTC), 65,457 Ethereum (ETH), 87,031 Litecoin (LTC), 7,723 Bitcoin Cash (BCH), 17,934 Bitcoin Gold (BTG), and 7,098 Bitcoin SV (BSV).
EY notes that QuadrigaCX’s founder, Gerald Cotten — who drew worldwide media attention for reportedly dyi with the only keys to the exchange’s wallets — traded using his 76,000 customers’ funds, likely…