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Canadian authorities are petitioning courts to force QuadrigaCX co- found er Michael Patryn to explain how he came to be in possession of 45 gold bars, a diamond-studded Rolex watch, and more than $250,000 in cash. As reported by Bloomberg, the Director of Civil Forfeiture in British Columbia has asked for a court order that would force Patryn to explain the assets which were seized in June 2021 two years after Quadriga’s collapse. A 2020 investigation concluded that the exchange’s 2019 implosion was caused by fraudulent activity committed by the exchange’s other founder, Gerry Cotten. Cotten died in mysterious circumstances while on his honeymoon in 2018. The probe also found that Patryn cut ties with QuadrigaCX after 2016 before the majority of the fraudulent activity took place . However, according to the most recent filing, chat records from 2014 and 2015 appear to show the founders discussing how they could appropriate customer funds and make it look as though Patryn had l...

A UK police officer has been barred from the force after lying about hiding thousands of pounds in Crypto and showing a “serious lack of integrity” while claiming to be an amateur investor.   As reported by the Harborough Mail, when Osama Hussain joined Leicestershire Police in 2022, he claimed to have invested £150 in Crypto , downplaying his relationship with an unnamed individual he was trading with.  In fact, Hussain was actually spending thousands on digital currency and the individual, known as Person A, was later discovered to have conducted transactions worth £4,000 with Hussain. These discrepancies were missed during the police vetting process during which an officer’s financial investments are scrutinized to determine their risk of vulnerability to financial inducement. Australian police failed to act on HyperVerse scam for two years Read more: UK newspaper investigates after ‘crypto wizard’ posts NHS token article His secret crypto lifestyle was unearthe...