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Quadriga Fuels Race Among Lawyers For Slice of Lost Millions

  • Nova Scotia Supreme Court sets Valentine’s Day hearing
  • One user says he’s also a creditor in Mt. Gox bankruptcy
Cryptocurrency mining rigs sit on racks at a Bitfarms facility in Saint-Hyacinthe, Quebec, Canada, on Thursday, July 26, 2018. Bitcoin has rallied more than 30 percent in July, shrugging off security and regulatory concerns that have plagued the virtual currency for much of this year.
Photographer: James MacDonald/Bloomberg
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Canada’s top law firms are set to converge this Valentine’s Day on a Halifax courtroom, competing for a piece of the C$260 million ($196 million) mystery behind the Quadriga CX cryptocurrency exchange.

The lawyers are contending for the right to represent some 115,000 Quadriga customers who are owed about C$190 million in Bitcoin and other digital assets plus another C$70 million in cash in court proceedings involving the shuttered Vancouver-based exchange. Quadriga was granted creditor protection last week in Nova Scotia Supreme Court, halting any lawsuits while the firm seeks to restructure with the help of Ernst & Young.