Canada Shuts Down Crypto Exchange. It Still Owes Customers $12 million

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.


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