Kraken CEO Jessie Powell as well Twitter account ProofofResearch have spent the last 24 hours or so combing through Quadriga’s transaction data. The results are still being released, but they hint at some very interesting findings.
Explaining that he’s not Chainalysis, BitMe Research, Kraken, or any other similar entities, the transaction data that has been sent to him by the QuadrigaCX (QCX) community means that ProofofResearch has been able to uncover quite a lot of information.
Firstly, what stood out to the researcher is that there is a cluster of address transactions from Mt. Gox entering the same cluster wallet as several Quadriga transactions. This led to ProofofReasearch asking if anyone is aware of a relationship between Gox and QCX.
Question, does anyone know what the relationship is between QuadrigaCX and Mt. Gox? (if any)
— CryptoMedication (@ProofofResearch) February 3, 2019
Just curious. Seeing cluster address transactions from Gox entering this same cluster wallet as several QCX transactions piqued my curiosity pic.twitter.com/KNR0bUjZ5Q
However, it's important to note that this isn’t conclusive evidence that Gox is involved with QCX, but it does mean that old wallets were connected to Gox in some way.
Cluster addresses from Gox do not necessarily mean that Gox itself is involved with QCX - want to make that clear. It does mean that very old wallets that were attached to Gox in some way (perhaps imported) coordinated movements into that clustered address. https://t.co/v9gRbVhe4s
— CryptoMedication (@ProofofResearch) February 3, 2019
The Twitter user then uncovered that QCX liquidated $12.7 million worth of Bitcoin into the cluster address from May 2018 to December 2018. So far there is no explanation as to why this happened or where the funds have gone.
QCX liquidated $12.7 million worth of bitcoins into this cluster address from May 2018 to December 2018.
— CryptoMedication (@ProofofResearch) February 3, 2019
No explanation as to why or where these funds have gone. https://t.co/v9gRbVhe4s
ProofofResearch has since reached out to Elementus.io, BitMex Research, Chainalysis, to verify QCX’s claims of being insolvent due to their failure of finding their reserve wallets.
We’ll be sure to keep you updated on the latest findings as they are released.
Read more: What we know about Quadriga so far; QuadrigaCX debacle: Truth or exit scam?; the community responds