The Supreme Court of Ontario will deposit $19.6 million, located on five bank accounts of Canada's largest crypto exchange QuadrigaCX. This is stated in the court ruling of November 9, reports the Cointelegraph.
These funds will be transferred to the court accounting by the Canadian Imperial Bank of Commerce to define their owners. For example, $19.6 million may belong to the QuadrigaCX exchange itself, on which its management insists, payment operator Costodian servicing the site or 388 users who have placed these funds as deposits.
At the same time, Judge Glenn Hainey was unable to determine the validity of the freezing the exchange's accounts by the CIBC within the framework of the proceedings.
Commenting on the decision of the High Court of Ontario, QuadrigaCX chief executive Herald Kotten noted:
“More importantly, the court has made no ruling yet on whether CIBC acted appropriately in freezing the funds in the first place. Regarding this point, we are considering our next steps.”
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