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CryptoIntelligence 2024-04-03 22:33:24

British Columbia Authorities Seize Assets from QuadrigaCX Co-Founder in Crackdown on Cryptocurrency Fraud

British Columbia Authorities Seize Assets from QuadrigaCX Co-Founder in Crackdown on Cryptocurrency Fraud

In British Columbia, Canada, authorities have targeted assets linked to QuadrigaCX, a defunct cryptocurrency exchange, through an unexplained wealth order. This legal maneuver aims to seize cash, 45 gold bars, and luxury items from a safe deposit box associated with Michael Patryn, a founder of QuadrigaCX. An unexplained wealth order requires individuals to justify their asset’s origins, underlining the government’s stance against illicit financial gains. Mike Farnworth, British Columbia’s public safety minister, emphasized the province’s commitment to combating financial crime, stating, “Through this action, we are demonstrating again that criminals will have to prove that their assets are the proceeds

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