B.C. government flags cryptocurrency company with 3rd unexplained wealth order – BC [Video]

The B.C. government has filed its third unexplained wealth order for money, gold bars and jewelry from a now-defunct cryptocurrency exchange company.

In a statement, Mike Farnworth, B.C.’s Minister of Public Safety and Solicitor General, said the application has been filed against Quadriga Coin Exchange (QuadrigaCX.).

“If successful, this application would see the forfeiture of $250,200 in cash, 45 gold bars, four luxury watches and a number of pieces of expensive jewelry,” Farnworth said.

“Through this action, we are demonstrating again that criminals will have to prove that their assets are the proceeds of lawful activity and not financial crime.”

In 2022, the company was the subject of a Netflix documentary called Trust No One: The Hunt for the Crypto King.

QuadrigaCX was founded by Gerald Cotten who died suddenly in 2018, taking the passwords to $250 million of investor’s money with him.

Now the company might lose its remaining assets unless they can prove where they came from.

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