There is so much information on QuadrigaCX that it cannot possibly be put in chronological order or into a coherent, unified piece because of its sheer volume and how vast it spreads from one party to another. So, this will be a document that contains any and everything related to QuadrigaCX, as well as all leads pertaining to the exchange. All related things will be placed under subheadings.
Arbit is an ATM company. Arbit’s CEO = Joseph David Toth.
Other individuals within the company are:
It is rumored (unconfirmed) that this ATM company worked with Cavirtex specifically while Cavirtex was in operation:
What is Cavirtex?
Cavirtex is a Canadian Bitcoin exchange. Cavirtex was extremely popular from 2011–2015.
Definitive information about the nature of Cavirtex was already sourced (and verified) via this bitcointalk link:
Peter Taylor reached out to me (the author) personally a couple of days ago to state that he had absolutely zero connection at all with Gerry Cotten (CEO of QuadrigaCX). Some information that has been unearthed recently seems to show otherwise.
The above photo was taken in Calgary (not confirmed if this is Peter Taylor at all).
Peter Taylor was at the same event where the above photo was snapped. So was Gerry Cotten and a few others:
Archive = https://archive.fo/RZt3s
This obviously doesn’t prove anything by itself, but this is an interesting collective of individuals.
Weird Occurrence With Cavirtex.com Redirect
Above, we can see the user point out this redirection (pictures posted with the tweet for convenience).
This is well after Kraken had acquired Cavirtex (via acquiring Coinsetter) in January 2016. Information on Kraken’s website appears to explicitly state that Kraken had direct control over the website redirecting to Kraken.com because it states, “account holders will be directed to www.kraken.com to login”. If the link to that is broken or altered for any reason, an archive will be provided post-release of this dump.
“Already the world’s largest bitcoin exchange in euro volume and liquidity, Kraken will fully absorb both Coinsetter and Cavirtex brands in the acquisition. Client accounts of both exchanges will be automatically transferred to Kraken’s cutting edge, low fee platform on January 26, 2016. Once transfer is completed, account holders will be directed to www.kraken.com to login, update account information if needed, and can begin trading immediately.”
Then go to February 6th, 2016.
You’ll notice it redirects to Kraken’s website.
Jesse Vehemently Denies that Kraken Had Anything to Do With This
Looking into the Internet Wayback Machine records for cavirtex.com, it appears that the domain had resolved to Kraken.com up until 2018 for some reason. Thus, Jesse’s argument is that the domain expired, yet some separate and unrelated entity picked it up (despite it technically being IP of Kraken at that point since they acquired Cavirtex by default) and then continued to redirect the domain to Kraken.com .
QuadrigaCX Connected Sites (Research Provided by Twitter User ‘Intel_Jakal’ Using OSINT Tools)
One of the connected sites listed in the above screenshots is ‘cryptocoinsmania’.
Interestingly, the site listed reviews for Exmo and CEX.io (partner exchanges with QuadrigaCX at Crypto Capital Co).
Validating the Who.is Records
This link that conducted a review on Cavirtex some time ago also saw that Paul Scovri was the creator of the Cavirtex.com domain:
Back to Joseph David Toth
During Cavirtex’s time of operation, there was significant speculation about the identity of Joseph David Toth.
This is because he was going by two different variations of his name (Joseph David and Joseph Toth).
These concerns were outlined numerous times in the community. There are some threads below that provide evidence of this:
Below is a video of Joseph David Toth:
The exchange (Cavirtex) made preliminary attempts to clarify Joseph’s identity back in 2014:
Apparently, Joseph David Toth was previously involved in another company where he was accused of defrauding investors:
Before moving forward with the Joseph David Toth interview clarifying his name, we need to provide some exposition on Andrew Wagner.
Below is a link to a ‘meetup’ event hosted by ‘Andrew Wagner’:
The event is titled, ‘QuadrigaCX ATM Launch Event @ 332 Water Street’
Below is a screenshotted list of all those that attended (for some reason this won’t turn up in archive.is):
The profile that CoinTelegraph published on Andrew Wagner was published April 22nd, 2014.
Andrew Wagner’s Twitter = https://twitter.com/TheAndrewWagner
Gerry Cotten Was Director of the Bitcoin Co-Op
This fact is listed in numerous locations. This is also corroborated in Francis Pouliot’s application on behalf of Gerry Cotten to the Bitcoin Foundation:
Archive = https://archive.fo/PmLvh
This application was submitted on April 14th, 2014 (8 days before CoinTelegraph’s profile on Andrew Wagner showing that he was also part of the Bitcoin Co-Op).
The only purpose of exposing these connections and relationship is to provide more context to the Joseph David Toth interview.
Back to Joseph David Toth (Again)
Joseph David Toth eventually sat down for an interview (written) with Andrew Wagner. The transcript was originally published on newbtc. However, the site (http://ca.newsbtc.com/cavirtex-responds/) has subsequently been removed.
Fortunately, there is an archived record of the conversation here: https://coinforum.ca/discussion/3182/cavirtex-responds-the-joseph-david-interview (Archive = https://archive.fo/VaCmc)
Below is a reproduced transcript (from the above link) of the interview between Andrew Wagner and Joseph David Toth:
Regarding the discrepancy on his name, Joseph David Toth stated:
“My full legal name that anyone can search for under the corporation is: Joseph David Toth. The Alberta corporate registry only shows Joseph Toth; my legal middle name is David. It is legal to use a middle name in public and I did so in an effort to ward off social engineering. In the early days, I was under constant attack, with many people trying to impersonate me and discredit what I was trying to accomplish. I now go by my full legal name. As of now, I have ten people that I know of trying to impersonate me on the Internet, ranging from Facebook to BitcoinTalk.”
Additional Information About Cavirtex
This information doesn’t fit under any specific subheading, but it is worth noting that Joseph David Toth has registered the business address for Cavirtex at a UPS store.
Archive = https://archive.fo/w56GX
Ties Between ‘Havelock Investments’, ‘Crypto Capital Co.’, and ‘Decentralized Capital’
A thorough piece by crypto researcher, Mathias Grønnebæk uncovered significant information about Havelock Investments, Crypto Capital Co., and Decentralized Capital.
Archive = https://archive.fo/ME5GR
Decentralized Capital Used Crypto Capital Co. For Banking
The link provided that proves this association = https://web.archive.org/web/20171108021835/https://decentralizedcapital.com/#!/faq#12
Specifically, the website states:
Matt also provided two other useful links to the corporate information of both companies:
Decentralized Capital: https://opencorporates.com/companies/pa/155604257
Ties Between Crypto Capital Co. and Havelock Investments
From the Matthias piece:
“Then I found a connection between Havelock Investments, and Crypto Capital. It seems that Havelock Investment’s platform was used to IPO CFIG (Crypto Financial), which was the original name of Crypto Capital. Interesting to note since a lot of securities fraud took place on that platform, but that is maybe outside of scope, at least for this discussion.
Here you can see that Crypto Capital and CFIG is one, and the same:
The link to the prospectus for Crypto Capital (on Havelock Investments’ website) can be found here:
Panama Fund Acquisition of Havelock Investments
The Panama Fund is the company behind the acquisition of Havelock Investments:
Archive = https://archive.fo/BN5Zf
The picture above shows that Panama Fund S.A. is clearly a shell company of sorts. The directors are all ‘stand-in’ names of directors (as shell companies are commonly structured).
James Grant is at the Head of Panama Fund S.A.
Numerous independent resources corroborate this information.
Below, the explicit links tying James Grant as the head of Panama Fund S.A. will be detailed.
James Grant Owns Canadianbitcoins
This information is publicly available and is not in dispute.
Here is an article by CoinDesk attesting to James Grant’s ownership of CanadianBitcoins:
(Archive = https://archive.fo/m1o2I )
Specifically, the article states:
James Grant’s response to the theft of cryptocurrency from his platform (Canadianbitcoins) can be found here:
James Grant is Also the CTO of Arbit (Joseph David Toth = CEO)
Archive = https://archive.fo/n2iAj (may or may not be effective because LinkedIn typically requires logins to view profiles)
James Grant is also the owner of Lightbox Technologies Inc.
This is evidenced by his LinkedIn (posted above).
The account has few followers (<100) and has not tweeted since 2016.
However, one tweet that’ s worth paying attention to from this account =
James Grant’s Bitcointalk Account Corroborates His Ownership of Havelock Investments
James Grant’s ‘bitcointalk’ account can be found here:
His username is ‘lightbox’.
As evidenced from the screenshots above, James Grant took over Havelock Investments in 2013.
Exploring the Sale of Havelock Investments
In particular, the link (https://bitcointalk.org/index.php?topic=989850.5) is really worth exploring for more information about James Grant’s role in the transition of Havelock Investments’ transition (archive = https://archive.fo/VJBV6 ).
In specific, the post cogently details the chain of custody for the company (as well as James Grant’s other confirmed ownership details):
The Chain of Ownership is:
“Havelock investment has been started by James Grant under Lightbox ownership https://bitcointalk.org/index.php?topic=986763.msg10755927#msg10755927
Then he released it, bond him directly to the project and announced that HL is going be purchased by PANAMA Fund if you look into Panama fund they have the same fake board members as Crypto Trade Corp which belongs to lightbox https://bitcointalk.org/index.php?topic=986763.msg10754241#msg10754241
As of March 2014 James Grant is the admitted owner and operator of Havelock investments: https://bitcointalk.org/index.php?action=trust;u=859 https://bitcointalk.org/index.php?action=profile;u=859
There was announcement that TAT invest has acquired am shares and sells them through HL. https://bitcointalk.org/index.php?topic=192499.msg1994125#msg1994125
TAT owning a seat on ASICMINER, the parent company of AMHASH https://bitcointalk.org/index.php?topic=235763.msg2687134;topicseen#msg2687134
And TAT transferred their seat to Havelock: http://www.reddit.com/r/BitcoinStocks/comments/1ye2wp/tat_investments_am1am100smg_update/“
The links all check out as they are corroborated with posts from the account that is known to belong to James Grant on the website, bitcointalk.
Again, it is worth mentioning that James Grant is the CTO of Arbit.
Relationship Between Arbit and Cavirtex
The first explicit link between the two entities (Cavirtex and Arbit) lies in the fact that Joseph David Toth (CEO of Cavirtex) went on to become the CEO of Arbit.
Below is company information for Arbit:
The company was registered September 30th, 2015, in Calgary (Canada).
Its worth noting that Peter Taylor (Taype) is also part of Arbit. Peter Taylor was also one of the executives at Cavirtex.
What’s most interesting (and concerning) about Arbit, however, is James Grant being the CTO of the company.
This is worth noting because James Grant was the CEO of Havelock Investments and Havelock Investments = Crypto Capital Co. (essentially).
James Grant is also at the head of Panama Fund S.A.
Havelock Investments and Cavirtex
Apart from the fact that James Grant (owner of Havelock Investments) partnered with several individuals from Cavirtex to form Arbit after the mysterious and sudden collapse of Cavirtex, there is another strong connection between Arbit and Havelock Investments.
Most notably, Havelock Investments decided to offer shares of Cavirtex.
This, of course, went south when Cavirtex was suddenly ‘delisted’ from the platform at its peak share price.
This caused such an uproar that Cavirtex customers planned on filing a class action lawsuit against the exchange.
You can find the link to that here: https://archive.fo/Urz8Q
Almost All Havelock Investments Ended Badly
Similar to Cavirtex, a significant number of offerings on the Havelock Investments website ended negatively.
‘NEO & Bee’ Ended Up Getting Shut Down Following a Police Investigation
Satoshi Dice Was Delisted and Erik Voorhees Ended Up Being Fined by the SEC
Here is a link corroborating the fact that Satoshi Dice was listed on Havelock Investments: https://www.ccn.com/us-sec-fines-erik-voorhees-unregistered-bitcoin-ipos (archive = https://archive.fo/hzCGC )
It is extremely important to note that Satoshi Dice was started (created) by Erik Voorhees.
Here is a link to the SEC document disclosing the charges against Erik Voorhees for issuing unregistered securities: https://archive.fo/9EWdM
Additional public information reveals that:
- Erik Voorhees did not have the company formally registered at all.
- There was no concrete address for Satoshi Dice.
Erik Voorhees’ Involvement With Crypto Capital Co.
In addition to being the founder of Satoshi Dice at the time that it hosted a share offering on Havelock Investments (HavelockInvesments = Crypto Capital Co. through corp. restructuring and ownership), Erik Voorhees is also the owner and founder of Coinapult (evidenced by his LinkedIn account: https://www.linkedin.com/in/erikvoorhees/)
As noted in the screenshots above, Erik Voorhees did abdicate his position as CEO of Coinapult in January 2014.
Notably, Erik Voorhees has stated this publicly too:
However, this was not when his involvement with Coinapult ended.
As noted in an article by bizjournals released later that year (2014); Barry Silbert, Roger Ver, and Erik Voorhees all became lead investors for Coinapult.
Archived Link = http://archive.is/zqaeE
Soon after, it was announced (via Havelock Investments) that Coinapult would be using Crypto Capital Co. to satisfy all of its banking needs.
At this point, several relationships have been made evident in this document, with the central focus being on connections between Cavirtex and Crypto Capital Co.
In this next part of the document, Crypto Capital Co. and their role in the crypto space as well as with QuadrigaCX will be explained in much greater depth.