Loading articles...

Vancouver-based cryptocurrency exchange shut down, taken over by B.C. Securities

Last Updated Nov 4, 2019 at 4:53 pm PDT

(iStock)
Summary

The BC Securities Commission says it has taken over the offices of Einstein Exchange

A court-ordered receiver has been appointed

VANCOUVER (NEWS 1130) – A Vancouver-based cryptocurrency exchange has shut its doors.

The BC Securities Commission says it has taken over the offices of Einstein Exchange, a crypto-asset trading platform, to protect customers.

A court-ordered receiver has been appointed.

BCSC says it got numerous complaints from customers who were not able to access their assets on the company’s website.

It has also been in contact with the RCMP about concerns raised by a former Einstein employee about potential money laundering.

A second cryptocurrency exchange, Nanaimo-based ezBtc.ca, is also under scrutiny after receiving complaints.

“The complainants told us they had bought crypto-assets through ezBtc and have not been able to gain access to their assets. […] Customer assets are at risk. Anyone who invested through ezBtc should consider consulting a lawyer about their options for retrieving their money,” Elise Palmer with the BCSC said in an email.

The Securities Commission also says Canadians should be cautious about buying or selling crypto assets, and none of these trading platforms have been authorized in the province.

– With files from Richard Dettman and the Canadian Press