@deangelochinndwq
The Canadian cryptocurrency trading platform ezBtc and its founder, David Smillie, defrauded customers by misappropriating approximately 13 million Canadian dollars ($9.5 million) of their cryptocurrency investments and using the funds for gambling.
A panel set by the British Columbia Securities Commission (BCSC), a provincial regulator in Canada, found that ezBtc misappropriated customer funds “for their own purposes.”
The ezBtc platform, which went offline permanently in or around September 2019 and was dissolved in 2022, had claimed to store all its users’ crypto investments in cold storage.
During its time of operation, between 2016 and 2019, ezBtc amassed over 2,300 Bitcoin BTC tickers down $59,454 and over 600 Ether ETH tickers down $2,668 from crypto investors.
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