What has been a fairly bad few weeks for cryptocurrency exchanges, just got a little worse? A Vancouver-based crypto trading platform, Einstein Exchange, has been closed by Candian authorities; while still owing $16 million in outstanding obligations.
On Monday, the British Columbia Securities Commission (BCSC), provided a statement noting the “action to protect customers” of the Einstein exchange.
The regulatory agency sought a Supreme Court order on November 1, designating an interim receiver to seize the exchange. The accounting firm, Grant Thornton Ltd – the same firm in charge of the Quadriga exchange proceedings – was subsequently appointed. Shortly after being greenlit by the Supreme Court, the firm stormed and secured the Einstein offices, officially shutting the exchange down.