QuadrigaCX Co-Founder Faces Asset Seizure Amid Wealth Probe

Thursday, 28 March 2024, 08:49

The B.C. Civil Forfeiture Office has taken significant action against QuadrigaCX co-founder Michael Patryn by filing an unexplained wealth order (UWO). This legal battle highlights the global challenge of cryptocurrency fraud and the crackdown on financial crime. The outcome on April 30 could lead to the forfeiture of assets worth $250,200 in cash, 45 gold bars, and luxury items.
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QuadrigaCX Co-Founder Faces Asset Seizure Amid Wealth Probe

Unexplained Wealth Order Against QuadrigaCX Co-Founder

The B.C. Civil Forfeiture Office has filed a UWO targeting assets of co-founder Michael Patryn.

Significant Asset Seizure

  • Assets include $250,200 cash, 45 gold bars, and luxury items.
  • This reflects the government's strong stance against financial crime.

Legal Implications

  1. The ongoing legal battle highlights the complexity of cryptocurrency fraud.
  2. The case may set a precedent for fighting unexplained wealth.

April 30 could be a turning point for Patryn's assets.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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