RATE Group | Vancouver-based cryptocurrency exchange latest to shutter
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Vancouver-based cryptocurrency exchange latest to shutter

06 Nov Vancouver-based cryptocurrency exchange latest to shutter

Posted at 23:37h in Cryptocurrency News by

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Einstein Exchange, in the building at 736 Granville St. in downtown Vancouver, has been taken over by a receiver.

Francis Georgian / PNG

When clients of Einstein Exchange discovered last weekend that the website of the Vancouver-based cryptocurrency trading platform had gone dark, many feared they had fallen victim to the latest QuadrigaCX.

The distressed customers were referring to the case of another B.C.-based exchange that earlier this year left some 115,000 clients out of pocket for $260 million in cryptocurrencies and cash in what some termed an “exit scam” by its late founder and CEO.

This latest case of a crypto exchange leaving millions of its clients’ dollars in question has investors, regulators and experts warning people to be careful when using exchanges, and calling for clearer oversight of the industry.

This week Einstein clients learned interim receiver Grant Thornton Ltd. had “entered and secured” the…

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