Canadian banking cartel freezes $28M belonging to cryptocurrency exchange



canadabitcoin 1 796x448 - Canadian banking cartel freezes $28M belonging to cryptocurrency exchange
A Canadian banking cartel has allegedly frozen $28 million in customer funds belonging to Canada’s largest cryptocurrency exchange. Vancouver-based exchange desk QuadrigaCX claims the Canadian Imperial Bank of Commerce (CIBC) locked the money and froze accounts belonging to its payment partner, Costodian, and its owner, Jose Reyes. The intervention, which took place earlier in 2018, was allegedly absolutely arbitrary. The Globe and Mail reports CIBC filed a request to take possession of the $28 million, as it is unable to determine exactly who it belongs to it – Quadriga, Costodian, or the 388 users who actually deposited the funds. As…

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