Canadian Exchange "disappears" with 12 million dollars

The financial regulatory authorities of British Columbia, Canada, are taking action against a Exchange of criptovalute which, according to what was initially reported, would have subtracted funds from users and would have closed its operations with a hole of over 12 million dollars.

The site Einstein Exchange, based in Vancouver, is apparently closed since the end of last month, after having unsuccessfully attempted a sale to a US investor: the agreement, the Canadian press says, would have been skipped, and Einstein would have decided to close its doors 31 October.

A press release issued by the BCSC states that the accounting firm Grant Thornton has been appointed as a trustee of funds to preserve and protect the assets of the deceased platform.

Canadian financial regulators claimed to have received numerous complaints from customers who were unable to recover their funds, and the BCSC confirmed that Einstein's customers are currently creditors of over 16 million Canadian dollars ( about 12,1 million US dollars, at current exchange rates).

However, the exchange's legal advisor specified to the BCSC that Einstein would have sufficient tokens to satisfy the customer withdrawal requests, thus trying to reassure the controversy.

But why Einstein Exchange has it failed? According to analysts, the exchange would "badly manage user funds", leading to a condition of constant loss. It is certainly not new to the BCSC, with the North American regulatory authorities investigating the platform since May of this year, believing that Einstein was involved in "potential money laundering". In short, a still unclear situation, which we will continue to examine ...