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- As per the latest EY report, the Canada Revenue Agency (CRA) had asked it to turn over a trove of information about QuadrigaCX. The customers of the following exchange are waiting to get back their $190 million deposit for more than a year.
- The record must exclude users’ personal information as well as account balances and transaction data.
- A legal firm, Miller Thomson representing Quadriga’s former users, quoted in a letter that it would not oppose the move in the interests of lowering costs and not further hampering any distribution of funds to the users.
As per the latest EY report, the Canada Revenue Agency (CRA) had asked it to turn over a trove of information about QuadrigaCX. The customers of the following exchange are waiting to get back their $190 million deposit for more than a year.
The record must exclude users’ personal information
The requested information includes financial statements, business records, corporate and legal records, documents pertaining to contractors and other related parties. Adding further, a list of accounts and wallet addresses and brief information on the fiat and crypto owed to users, analysis on transaction activities which are “user-specific” and identified accounts.
The EY’s latest report pointed out that the Trustee addressed the CRA that its purpose is to simply a copy of the full EDiscovery Database, edited only for the perquisite, in response to the CRA Production Demand.
The record must exclude users’ personal information as well as account balances and transaction data. In the previous report of EY, the database contains 750,000 individual documents. At the time of QuadrigaCX’s breakdown, it had had 115,000 users with balances on the platform.
The CRA’s request is an unprecedented affront to individual privacy
A legal firm, Miller Thomson representing Quadriga’s former users, quoted in a letter that it would not oppose the move in the interests of lowering costs and not further hampering any distribution of funds to the users.
.A few former Quadriga users and also, the members of the creditor’s committee representing the overall group in discussions with Miller Thomson had a different opinion privacy concerns of turning this information over to the CRA, as per the letter.
The Committee members further argued at the concern about sharing the information with the CRA the preserving that information, the personal information enclosed on the Database, the value of the privacy interest affected, and the sensible expectations of Affected Users.
A committee member Magdalena Gronowska notified that the CRA’s request is an extraordinary insult to individual privacy. She said that EY has already stated in the past that it may be difficult to calculate taxes and speculating if the CRA needs user data to calculate the exchange’s liability.
The QuadrigaCX revealed that its founder and CEO, Gerald Cotton while traveling to India lost his life. He had sole control over the exchange’s private keys and was the only person operating it at the time of his death, testified by his wife in an affidavit.
