The Canadian cryptocurrency exchange QuadrigaCX appears to have been playing with fire long before it collapsed – and took $134 million with it – earlier this year. According to the latest report from administrators, EY, QuadrigaCX had been operating a fraudulent cryptocurrency exchange. It failed to follow basic business processes, maintain financial accounts, and manage user and company funds appropriately. Adding insult to injury, EY identified that Cotten exploited his position as CEO and used alias accounts, on his own platform, to make fake deposits and trades. This resulted in “inflated revenue figures, artificial trades with [real] users,” and let…

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