Bloomberg: Canada intensifies investigation into gold and Rolex watches in cryptocurrency cases

ChainCatcher news, according to Bloomberg, Canadian provincial officials are trying to force the surviving co-founder of the collapsed cryptocurrency exchange QuadrigaCX to explain how he obtained a cash reserve, 45 gold bars, and jewelry, including a diamond-encrusted Rolex watch.

On Wednesday, the civil forfeiture chief of British Columbia sought a court order to compel Michael Patryn to detail the acquisition of the seized assets, which include approximately $184,310 in cash.

If Michael Patryn cannot prove the legitimate acquisition of the assets in question, the case could ultimately result in him forfeiting those assets. According to a statement from the province's Attorney General, the proceeds from the order will be used to donate to crime victims and crime prevention services.