VANCOUVER — A panel of the British Columbia Securities Commission has found a cryptocurrency trading platform and its owner lied to customers and diverted about $13 million in assets to gambling and personal accounts.
The commission says the company operating under the name ezBtc and incorporated by then-B.C. resident David Smillie told customers their bitcoins would be held in"cold storage," a more secure method of keeping digital assets offline.
The commission says in a statement issued Monday that it hired a forensic data analytics firm to determine what happened to the cryptocurrency, and some of it was"quickly transferred" either to Smillie's accounts or two gambling websites.
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B.C. Securities Commission finds $13M in fraud by crypto trading platformVANCOUVER — A panel of the British Columbia Securities Commission has found a cryptocurrency trading platform and its owner lied to customers and diverted about $13 million in assets to gambling and personal accounts.
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B.C. Securities Commission finds $13M in fraud by crypto trading platformVANCOUVER — A panel of the British Columbia Securities Commission has found a cryptocurrency trading platform and its owner lied to customers and diverted about $13 million in assets to gambling and personal accounts.
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