A new report from Big Four audit firm Ernst & Young (EY) outlines the assets and debts of major Canadian crypto exchange QuadrigaCX and its subsidiaries. The report was released on EY website on May 9.

EY — a monitor to the creditor proceedings of now-defunct QuadrigaCX — has printed a trustee’s preliminary report revealing that Quadriga has around $20.8 million in assets, and around $160 million in liabilities as of April 12, 2019.

The debt and assets are spread between 3 subsidiary companies; 0984750 B.C. LTD. (the “Quadriga Estate”), Quadriga Fintech Solutions and Whiteside Capital Corporation.

Quadriga was formally declared bankrupt within the starting of April following the approval by the star Scotia Supreme Court Justice Michael Wood, and EY recommendation that it ought to be declared bankrupt earlier that month. The bankruptcy “would afford the potential sale of assets, as well as however not restricted to Quadriga’s operational platform,” further as streamlining body burdens and cutting procedural prices.

As antecedently reportable, Quadriga filed for creditor protection once — following its co-founder Gerald Cotten death — it lost access to its cold wallets and corresponding keys, that on the face of it command the assets owed to its purchasers.

In March, EY known six separate crypto wallets that were used primarily to store bitcoin (BTC), the cryptocurrency most used on the platform. Other than one inadvertent transaction of bitcoin amounting to almost $500,000, there are no deposits within the wallets since April 2018.

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