The full report can be found here: https://blog.zerononcense.com/2019/02/16/report-shows-quadrigacx-cold-wallets-actively-involved-in-significant-criminal-activity-ties-to-silk-road-hacked-funds-identity-theft-and-drug-human-traffickingThe report is a 7,500+ word, deep-diving analysis that probes the contents and individual transactions made to and from the Court Monitor-identified QuadrigaCX cold wallets.The report includes screenshots, times, wallet addresses, transaction IDs and amounts (in both BTC and USD).Conclusions From the Report Are As Follows:In total, QuadrigaCX sent and liquidated down $400M+ in each of the associated addresses plus the wallet address (1JZJaDDC44DCKLnezDsbW43Zf8LspCKBYP). The latter wallet address was included because research from blockchain firm ‘Trinide’ concluded a significant correlation between the above address and the cold wallet addresses (more on this in the conclusion plus a linked to the 200+ pulled transactions).These ‘cold wallets’ are associated with a significant amount of criminal activity. This criminal activity includes but is not limited to; dark markets, child pornography, fraud, identity theft, hacking, blackhat services, drug trafficking, and human trafficking. There were no potential ‘middle men’ between the operator of the cold wallets and the recipient/sender of the funds from these sources. To be clear, there were hardly any ‘legitimate’ (i.e., legal) transactions in some of these wallets.Significant amounts of customer funds were siphoned into some of these wallets as well. Those customer funds were usually pooled, aggregated, then liquidated down. The research was careful to ensure and demonstrate that the funds were not aggregated, then sent to another ‘cold wallet’ location. Final destinations were verified with advanced blockchain software and multiple other identity verification sources.The exchange, Bitfinex, in specific, received tens of millions of dollars from these cold wallets. Some of the funds that were sent to Bitfinex were of questionable legal nature.Some of the transactions that occurred within the cold wallets significantly implicated involvement with Payza/Obozo/Egopay controlled entities.
Submitted February 16, 2019 at 09:08PM
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