Coinbase CEO: ‘’If QuadrigaCX Planned An Exit Scam, It Would Have Been Timed Better’’

Coinbase CEO Brian Armstrong contributed to the multiple theories surrounding the closing down of the Canadian crypto platform QuadrigaCX after he tweeted his opinion about the exchange yesterday on February 21 which we are reading more about in today’s blockchain news.

The major US crypto exchange Coinbase CEO took it to twitter to explain that the exchange is probably going under reconstructions and owes creditors more than $190 million but did not attempt fraud.

He wrote:

 “QuadrigaCX was one of the oldest exchanges in existence founded in 2013. If they planned an exit scam, it likely would have been timed better.’’

Users of the QudrigaCX exchange are still having a hard time going to courts in order to get their funds back because the exact circumstances under which all of the assets disappeared are unclear. The one thing that is clear is that after the death of QuadrigaCX CEO, Gerald Cotten, all of the funds disappeared.

Since the shutdown of the exchange, thousands of rumors and claims emerged claiming that the funds were mismanaged and that the official information from the exchange’s representatives is still not exactly matching with the results from the other blockchain analysis.

Coinbase had also started an investigation of its own according to Armstrong suggesting that a couple of months before the exchange collapsed, there were some questions emerging about the management of the exchange:

 “This implies that at least few people inside Qadriga (sic) knew that they were running fractional. If so, then it’s possible that untimely death of their CEO was used as an outlet to let the company sink.”