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Software Engineer Loses Life Savings in Quadriga Imbroglio

  • Tong Zou sought to save on fees before moving back to Canada
  • Crypto exchange’s 115,000 customers unable to access accounts
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Quadriga CX can’t retrieve digital tokens held for its customers.Source: Bloomberg
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Tong Zou wasn’t a stereotypical crypto bro bent on accumulating flashy trophies such as Lamborghinis when he deposited his life savings into Quadriga CX’s digital exchange.

The 30-year-old software engineer, who’d been working in California for seven years, just wanted to save a few bucks on transfer fees after deciding to move to Vancouver. It proved to be a C$560,000 ($422,000) mistake.