Goodbye Bitcoin: One More Canada’s Crypto Exchange Bogarts Its Clients’ BTC

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Tue, 11/19/2019 - 14:03
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Yuri Molchan
Following the trouble with QuadrigaCX in early 2019, Vancouver-headquartered Einstein exchange says it cannot return its customers’ Bitcoin worth several million USD
Goodbye Bitcoin: One More Canada’s Crypto Exchange Bogarts Its Clients’ BTC
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One more Canada-based company, Einstein crypto exchange, took its traders to the cleaner's this year. As reported by Global News, the platform was shut down by the local BCSC regulator after multiple customers contacted their office complaining that they cannot withdraw their Bitcoin.

Grant Thornton Limited was legally appointed to get the money from the trading venue and return it to the investors. However, Einstein proved to have only $45,000. $15,000 of it is crypto. The clients assure that the exchange owes them $16 mln in total.

One customer claims Einstein owes him several million USD. Another one says the platform has got half a million USD of his money.

Related Bitcoin Accident? CEO of Zimbabwean Crypto Exchange Dismisses Allegations of Lost BTC to Media
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Bitcoin Accident? CEO of Zimbabwean Crypto Exchange Dismisses Allegations of Lost BTC to Media

Earlier this year, another Canadian exchange failed to pay out the funds to its customers. The CEO of QuadrigaCX exchange all of a sudden passed away in December 2018 in India on a journey. He stored all the crypto on his encrypted laptop and was the only one who had access to the password.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.