Five wallets tied to the defunct Canadian cryptocurrency exchange QuadrigaCX have been seen moving $1.7 million worth of Bitcoin after years of inactivity.

The wallets were thought to be inaccessible following the death of the exchange's founder in 2018, who had sole responsibility for the private keys.

 QuadrigaCX declared bankruptcy in April 2019, leaving 155,000 users owed up to $200 million in cryptocurrency.

In February 2019, accounting firm Ernst & Young reported that QuadrigaCX had accidentally transferred around 103 BTC to cold wallets that only the deceased founder had access to.

The mysterious death of the founder and the collapse of the exchange led to conspiracy theories that he faked his own death as part of a fraudulent exit scam.

 In 2014, the founder revealed that the exchange stored its private keys offline in a safety deposit box at a bank.

It is unclear if the movement of the Bitcoin is related to Ernst & Young's recovery efforts.

The story was the subject of a 2022 Netflix documentary.

 Cointelegraph contacted Ernst & Young for comment but did not receive a response.

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