According to the order, the assets allegedly are the proceeds of criminal activities linked to Michael Patryn, a co-founder of Quadriga Coin Exchange, and Gerald Cotten.
The director of civil forfeiture in the Canadian province of British Columbia has made an unexplained wealth order to confiscate cash, 45 gold bars, and luxury items found in a safe deposit box linked to a co-founder of the QuadrigaCX cryptocurrency exchange.
An unexplained wealth order is a type of court order that compels a person to explain how they acquired their assets. Mike Farnworth, the Province’s Minister of Public Safety and Solicitor General, said in a statement:
QuadrigaCX, once the largest cryptocurrency exchange in Canada, became insolvent in February 2019, shortly after its co-founder, Gerald Cotten, died in India, taking the private keys to QuadrigaCX’s offline storage systems to the grave.
