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QuadrigaCX co-founder Michael Patryn allegedly traded large positions on BitMEX

by The Block

March 7, 2019, 6:56AM EDT  ·  3 min read

Quick Take

  • A co-founder of QuadrigaCX appears to be linked to reddit user MikeXBT, who frequently posted about making large volume trades on BitMEX
  • MikeXBT posted about taking long and short positions as high as $8 million
  • It is not yet clear how Patryn funded his multi-million dollar trades

by The Block

March 7, 2019, 6:56AM EDT  ·  3 min read

Posting history clues strongly suggest a reddit user who frequently posted about making large-volume trades on BitMEX might in fact be Michael Patryn, co-founder of QuadrigaCX.

QuadrigaCX, a Canadian cryptocurrency exchange, ceased operations on Jan. 26, leaving many of its clients confused and panicked. Seven weeks prior, the firm’s CEO and co-founder, Gerald Cotten, suddenly passed away.