The court proceeding of shutdown Canadian crypto exchange QuadrigaCX has relocated the case to focus on the users based in Ontario.
Ernst & Young (EY) the accounting firm that serves as the exchange’s bankruptcy trustee, appealed to relocate their case.
The case is currently being handled in Halifax, Nova Scotia, but they want to move the proceedings to Toronto, as most of the legal professionals are located in Ontario.
“As the majority of the professionals are located in Ontario, there would be significant cost savings to transferring the proceedings to Ontario,” stated the liquidation company.
“There are very few remaining ties to Nova Scotia at this time.”
QuadrigaCX’s downfall started in December 2018 after the death of its CEO, Gerald Cotten.
The problem was that the exchange users could not get their funds back which were worth around $190 million in both cryptocurrency and fiat currency, and only the founder allegedly had the keys to the accounts.
There were suspicions regarding funds management by Cotten as…