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QuadrigaCX Allegedly Traded Against Its Own Customers Without Assets To Back Them

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geoskd writes: QuadrigaCX, the Canadian crypto trade that made information lately with the passing of its CEO, Gerald Cotten, has been imagined to were purchasing cryptocurrency from investors on its platform with no need exact belongings to accomplish the transactions. The transactions confirmed credit score to the shoppers accounts, but if the client attempted to withdraw money, they needed to wait till different consumers deposited money ahead of the price range changed into to be had. There may be an accusation that this habits exists at many different crypto exchanges as neatly. Perhaps it’s time to take a recent have a look at Tether…

Read more of this story at Slashdot.

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