Thread by @tayvano_

I'm seeing NO indication of Quadriga ever having cold / reserve wallets for ETH. Looking at their 3 main addresses:
0x027beefcbad782faf69fad12dee97ed894c68549 (green)
0x0ee4e2d09aec35bdf08083b649033ac0a41aa75e (blue)
0xb6aac3b56ff818496b747ea57fcbe42a9aae6218 (purple - active)

2016: 0x0ee4e2d (blue)
Biggest outgoing TXs go to:
- A Bitfinex Deposit Address #1 (red)
- 0x027beef (green)
- 0xb6aac (purple)

2016/2017: 0x027beef
Biggest outgoing TXs go to:
- 0xee4e (blue)
- A Poloniex Deposit Address #1 (orange)
- 0x027beef (green)

(no hard for 0xb6aac yet because it has 500k txs...sit tight)

Sidenotes:
- These are just *some* of the exchange deposits I've had a chance to explore. There are more.
- All USD values are based on the value AT TIME THE OF TRANSACTION, not today's value or yesterday's value. 😉

Here's that orange Poloniex Deposit Address #1:
- Has received from all 3 main wallets
- Has received 218k ETH total
- ETH has an equiv value at time of transaction of $7.791M USD

And that Bitfinex Deposit Address #2 (red):
- Has received from all 3 main wallets
- Has received 44k ETH total
- ETH has an equiv value at time of transaction of $13.6M USD

All 3 main addys also send & receive to crazy address: 0x7ea5e875a386b66d11a0ad1866ca7b5f2745f049
Turns out, they pushed $4.4M dollars worth of ETH thru ShapeShift for BTC
Why would someone...who owns an exchange...take the comparatively high rates/spreads on ShapeShift? 🤔🤔🤔

Based of the actions via ShapeShift, I can only assume they were trading the ETH for BTC on Bitfinex/Poloniex as well. Regardless, these were CUSTOMER funds. All 3 "main" addresses ultimately receive ALL customer deposits, which were then sent to a variety of exchanges.

So, at least on the ETH side of things, the main outpouring of ETH was not to reserve accounts, unless those reserve accounts are BTC via Poloniex/Bitfinex/ShapeShift & others exchanges.

The total ETH I can find on hand across all known accounts is still ~940 ETH in 0xb6aac3b.

Oh, and just in case you weren't shaking your head enough,
don't forget that Quadriga ran an exchange with KYC. They have a piles of user's KYC data. They could turn around and open an exchange account with any of that KYC data to move money. Having fun yet?

inb4 crypto is dead / long live the banks. the banks are NOT any better in this fucking regard.

en.wikipedia.org/wiki/Wells_Far…

Looked into 0xb6aac3b56ff818496b747ea57fcbe42a9aae6218 more. Not much new information. Same addresses keep appearing. No sign of cold storage.

One new thing: 0x6aac sent 59k ETH to 0x0b9defea64d1808bcdec76d532984dd24fb8bcff, which sends heaps of TXs to ShapeShift, like 0x7ea5.

If you want to download the full 80mb, 477k line transaction history and poke around yourself, here it is: drive.google.com/file/d/13JfVDs…

One last thing. Here's an example of an address that *could* have been cold storage: 0x185a3c26a1a5deb37c7fd02007b0fde19db61df3

But...
- It's empty now (sent to the Bitfinex deposit addr)
- If every "cold storage" is this size, thats 100+ accounts
- IT'S EMPTY NOW