December 4, 2020

Canada's financial regulator takes control of the Einstein exchange

The British Columbia Securities Commission (BCSC) took control of the Einstein cryptocurrency exchange, which on October 31 announced the termination of activity.

BCSC representatives reported that the Commissionreceived many complaints from the exchange’s clients about the loss of access to assets, and on October 31, the site announced that it could not make a profit and would cease its activity within 2-3 months.

According to BCSC, Einstein owes its customers $ 12.4 million. Accounting firm Grant Thornton will evaluate all cryptocurrencies and assets owned by the exchange, and then distribute them among customers.

The exchange website is currently unavailable. Einstein CEO Michael Gokturk also did not provide any comments.

Canadian announced closure earlier this yearQuadrigaCX exchange. Customers of the site lost more than $ 190 million after the CEO of the exchange, Gerald Cotten, died in December. He left no information about the cold QuadrigaCX wallets or how to access them.

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