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News Board

Update 2019/01/11 January 11th, 2019

This isn't the update that everyone wants but we do have both good and bad news though. First the good news, BMO has released the funds. However the bad news is that they have released bank drafts back to us as they refused to accept the funds. Currently we are having Billerfy endorse the drafts to our company, this will allow our lawyer to have the funds cashed into a specific bank account that has been created for our company.

It's likely the drafts will be endorsed and deposited on Monday as we received them from BMO today. All backlogged amounts have been successfully queued with our processors to be completed as soon as we have the funds in place. Sadly though, with this latest setback, it will likely be two weeks before we are able to commence these settlements. Small payments are still going out daily and we are working as fast as possible to clear the backlog.

We truly appreciate your patience and will continue to keep you in the loop regardless of the news to share.

Update 2019/01/09 January 9th, 2019

Yesterday, our team waited for confirmation that all the queued payments have been processed but there is yet another delay. Mid-afternoon, BMO, the bank where the drafts were deposited, told us that the money was being held a bit longer for its compliance department to give the go-ahead.

Our lawyers were quickly on the case and forwarded all the necessary paperwork to prove the money was coming from the court and should be released immediately. Today we learnt that the compliance department will give its verdict by the end of the week.

While this is a major stepback, it clearly shows the amount of effort the banks are putting into preventing small firms to conduct business in the crypto-space.

Our team is still working through the late payments and we would like to remind you to send a support ticket with the withdrawal information you were expecting (check https://www.quadrigacx.com/history#withdrawals) only if you have not already done so.

If you have been advised that your payment is on our priority payments list than there is no need to send in further tickets until our next update.

We appreciate your patience as we continue to work tirelessly to get this situation resolved.

Update 2019/01/07 January 7th, 2019

For the past few days, we have been busy cross-referencing the payment processors queues to recreate a list of late payments. A massive batch of them has been sent to Billerfy for processing as soon as they have the money - which is scheduled to be tomorrow, January 8th.

If you have already sent a ticket with missing payments, it has likely been included within that batch so please do not send again until the end of the week. You need to allow at least 3 to 4 business days from the time it is sent for it to reach your account.

From the 10th of January, providing the 2 other drafts clear on time, we will start processing pending payments as well as more late payments.

If after 7 business days from tomorrow, you still haven't received your withdrawal, please submit a ticket and highlight the missing payment(s) so we can investigate.