According to Cryptonewsland, British Columbia authorities have seized over $1 million in assets from Michael Patryn, co-founder of the now-defunct QuadrigaCX cryptocurrency exchange. The seized items include 45 gold bars, luxury watches, jewelry, and approximately $250,000 in cash, which were found in a safety deposit box. Authorities allege the assets were purchased using misappropriated customer funds. The Supreme Court of British Columbia granted a forfeiture order after Patryn failed to contest the action. The seizure is part of a broader investigation into Patryn’s financial activities and his role in the collapse of QuadrigaCX, which left over $169 million in customer funds missing. Patryn, who has a prior criminal history in the U.S., is currently believed to be in Thailand. The assets may be used to compensate QuadrigaCX creditors, though only 13 cents on the dollar has been returned to claimants so far.
British Columbia Seizes $1M in Assets from QuadrigaCX Co-Founder Michael Patryn
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