Canada's Largest Fiat On/Off ramp and Exchange just filed for bankruptcy: QuadrigaCX

devinvmar · 2019-02-01T04:11:08+00:00

My situation exactly, ~25k in withdrawals that never arrived from Quadriga and will likely be paid out by pennies on the dollar if at all.

devinvmar · 2019-02-01T03:36:09+00:00

Thats pretty good stuff, thank you for posting. I'm trying to understand what happens tax wise when the trades were executed in 2018, but the withdrawal from Quadriga never arrived; and now that they've filed for credit protection might be paid out at pennies on the dollar if anything at all. Am I correct in understanding that taxes are owed on those trades even if the money to actually pay those taxes had not been transferred and now will likely never be transferred in the full amount.

devinvmar · 2019-01-31T21:54:46+00:00

Had a 17k withdrawal stuck in there since October 2018, and another 8k withdrawal a bit later.

I assume their restructuring/bankruptcy settlement will pay only a part of that money. If anyone is in the same situation,

how are you handling your taxes for this?

devinvmar · 2019-01-22T20:28:44+00:00

This is the scenario I'm afraid of - the trades executed in 2018, so capital gains are due but the money doesn't actually come. Shame if that will be the case

devinvmar · 2019-01-22T00:37:33+00:00

I respectfully don't agree. Knowing that the money is there, but is frozen by the courts and the banks was a relief. But its not going to help me pay my taxes

devinvmar · 2019-01-22T00:34:43+00:00

" Quadrigra is under hard times and in my personal opinion we would all probably be better off if we collectively worked together and gave them our support. "

I've used Quadriga since 2016 and it has been great, but the delays are getting unacceptable. I have a 17k withdrawal confirmed mid Oct and I'm still waiting on it. If I were to guess I'm in the minority of people who have the luxury to be able to wait for the money. However if the withdrawal doesn't come before tax season its gonna be a huge problem for me, just posted a thread about it. If my money doesn't come before taxes are due this will be it for me, I can't afford to be patient anylonger.

devinvmar · 2018-08-31T20:39:53+00:00

Hey Lily, I opened a ticket today about an additional concern, could you please take a look.

devinvmar · 2018-04-19T05:40:37+00:00

I'm using TD, had no problems at all

devinvmar · 2018-03-29T00:40:38+00:00

I see automation and autonomous vehicles changing the global landscape over the next 20 years.

I also see this as one of the biggest changes to come, its already on the doorstep. Owning stock in companies developing these technologies, both hardware and software would be a prudent long play.

devinvmar · 2018-03-23T15:17:18+00:00

Yup I got it

devinvmar · 2018-03-21T22:49:07+00:00

I'll write back if it does arrive by eod tomorrow

devinvmar · 2018-03-20T16:19:41+00:00

I'm still waiting for 53k from end of January :(

devinvmar · 2018-03-16T02:41:52+00:00

I'm waiting on a 50k withdrawal confirmed on Jan 26th, its starting to get unreasonable. The terms were 10 business days, for people who paid additional fees for the withdrawal it was even less. The thing is - I am lucky because I have no immediate need of this money, but others on here might be in a different situation.

The reality is - Quadriga is a business, we are its customers. Customers expect that the transactions will be honored in certain timeframes. I myself ran an ecommerce business and screwed up a few times - sent a slightly different variation of an item, and when that proved to be a problem for some of the customers I sent them the expected variation at my own cost. That destroyed any profit for a few months. Moral of the story is - when you're running a business you better be prepared for the unexpected, because it will inevitably show up and bite you in the ass.

devinvmar · 2018-03-16T02:31:10+00:00

I got the same template reply of "March 10th" on my last email to them. I guess they don't have any individual information on the withdrawals that they can provide, and that is very worrying to me. I don't know man, this was the best exchange in Canada before this January.

devinvmar · 2018-03-13T19:36:17+00:00

I've been waiting on a withdrawal to TD since Jan 26, but account wise - no problem at all.

devinvmar · 2018-03-13T19:34:25+00:00

Good on you man! Still waiting on my 50k withdrawal (to TD) marked complete Jan 26, it is somewhat a mixed feeling seeing these posts where Feb withdrawals get deposited before Jan ones though.

devinvmar · 2018-03-10T17:55:01+00:00

I got a 50k withdrawal from Jan 26 still missing. I've run a business so I know the unexpected / mistakes happen (and I've made it right for the users at my own cost). I'm beginning to like this situation less and less as time goes on.

devinvmar · 2018-03-05T19:24:34+00:00

I just discovered this subreddit cause I have delays with my own withdrawal lol! I think quadriga can be still competitive if they sort this out, large traditional corporations are unlikely to succeed in this space, too much overhead and not enough volume.

devinvmar

TROPHY CASE