{"investigation":{"slug":"wonderland-finance","entity_name":"Wonderland Finance","trust_score":33,"severity_base":33,"score_modifier":0,"confidence":0.92,"status":"published","content_type":"investigation","summary":"Wonderland Finance was an OlympusDAO-style reserve currency protocol launched in September 2021 on Avalanche by Daniele Sestagalli, offering rebase staking yields of up to 80,000% APY with its TIME and wMEMO tokens. In January 2022, on-chain investigator ZachXBT revealed that the protocol's anonymous treasury manager, known as '0xSifu', was Michael Patryn — a convicted felon and co-founder of the fraudulent Canadian exchange QuadrigaCX — triggering an immediate collapse in token prices and a governance crisis that effectively ended the protocol. Sestagalli later acknowledged he had known Patryn's identity for weeks before the public disclosure.","sections":[{"content":"Wonderland Finance was launched in September 2021 on the Avalanche blockchain as a fork of OlympusDAO, a reserve currency protocol model in which a treasury of backing assets is used to support a native token. The protocol's native token was TIME, with staked TIME generating MEMO tokens that auto-compounded yields; wMEMO (Wrapped MEMO) later replaced MEMO as the primary governance and yield-bearing token following a transition in January 2022. The protocol advertised annual percentage yields (APYs) exceeding 80,000% through a rebase mechanism, in which new tokens were minted and distributed to stakers funded by bond sales. TIME reached an all-time high of approximately $10,063 on November 7–8, 2021, launching from $554 on September 2, 2021, a gain of roughly 1,700% in its first two months. Wonderland was positioned as part of Daniele Sestagalli's 'Frog Nation' ecosystem alongside Abracadabra Money (SPELL/MIM) and Popsicle Finance. At its peak, the protocol held a treasury valued at approximately $680 million, which at one point exceeded the market capitalization of the TIME token itself.","heading":"Protocol Overview and Mechanics","sources":[{"url":"https://www.altcoinbuzz.io/reviews/what-is-wonderland-money-part-1/","name":"What Is Wonderland Money, Part 1 — AltcoinBuzz","type":"news_article","credibility":2},{"url":"https://capital.com/wonderland-time-price-prediction","name":"Wonderland Price Prediction — Capital.com","type":"other","credibility":2},{"url":"https://pexx.com/chaindebrief/differences-between-olympus-and-wonderland-apy-explained/","name":"What Are The Differences Between OlympusDAO and Wonderland — PEXX","type":"research","credibility":2},{"url":"https://www.coingecko.com/en/coins/wonderland","name":"Wonderland TIME on CoinGecko","type":"on_chain","credibility":2}],"severity":"medium"},{"content":"The pseudonymous treasury manager of Wonderland, known on-chain as '0xSifu', was publicly identified as Michael Patryn on January 27, 2022 by blockchain investigator ZachXBT. Patryn, whose legal birth name is Omar Dhanani, changed his identity following a criminal conviction in the United States. In October 2004, Dhanani was arrested as part of 'Operation Firewall,' a Secret Service investigation targeting Shadowcrew.com, an online marketplace described as a hub for identity theft that trafficked in over 1.5 million stolen credit card and bank card numbers. Dhanani pleaded guilty in 2005 to one count of conspiracy to transfer identification documents, received a sentence of 18 months in federal prison, and was released in May 2007. In the same period he also pleaded guilty to state charges including second-degree burglary and grand theft in Orange County, California. After his release from prison, Dhanani was deported to Canada. He later operated M-Gold.com, which exchanged Liberty Reserve — a digital currency platform ultimately shut down by U.S. authorities for facilitating over $8 billion in unlawful transactions. Patryn co-founded QuadrigaCX with Gerald Cotten in 2013 and has claimed he departed the exchange in 2016, prior to its eventual collapse. The Globe and Mail confirmed Patryn's identity through matching booking photographs, court records listing 'Omar Patryn' as an alias, and address documents across multiple legal filings.","heading":"Identity of 0xSifu: Michael Patryn and His Criminal History","sources":[{"url":"https://www.theglobeandmail.com/business/article-quadriga-co-founder-served-time-in-us-for-role-in-identity-theft/","name":"Quadriga co-founder served time in U.S. prison for role in identity-theft ring — The Globe and Mail","type":"news_article","credibility":1},{"url":"https://amycastor.com/2022/01/27/quadrigacx-cofounder-michael-patryn-resurfaces-as-oxsifu-treasury-manager-of-wonderland/","name":"QuadrigaCX cofounder Michael Patryn resurfaces as 0xSifu — Amy Castor","type":"news_article","credibility":2},{"url":"https://en.wikipedia.org/wiki/Michael_Patryn","name":"Michael Patryn — Wikipedia","type":"other","credibility":2},{"url":"https://cryptobriefing.com/wonderland-treasury-manager-outed-quadrigacx-cofounder/","name":"Wonderland Treasury Manager Outed as QuadrigaCX Co-Founder — CryptoBriefing","type":"news_article","credibility":2}],"severity":"critical"},{"content":"On January 27, 2022, pseudonymous on-chain investigator ZachXBT published a Twitter thread stating: '0xSifu is the Co-founder of QuadrigaCX, Michael Patryn. If you are unfamiliar that is the Canadian exchange that collapsed in 2019 after the founder Gerald Cotten disappeared with $169m.' ZachXBT stated he had confirmed Patryn's identity directly with Sestagalli in private messages before publishing. Following the disclosure, Wonderland's TIME token dropped approximately 32% in European trading hours, and the token ultimately fell more than 40% within 24 hours of the revelation. The disclosure compounded an already ongoing liquidity crisis: in the days prior, a cascade of leveraged wMEMO liquidations had already pushed TIME to a low of $420 — down from its November peak near $10,000 — as borrowers who had used wMEMO as collateral on Abracadabra Money were forcibly unwound. Many investors had used leveraged positions to amplify yields, creating systemic fragility. Daniele Sestagalli publicly confirmed the allegations the same day, writing: 'I want everyone to know that I was aware of this and decided that the past of an individual doesn't determine their future.' Sestagalli further acknowledged he had known Patryn's true identity for approximately one month before public disclosure, having learned it after the two met in person following a period in which Sestagalli had himself been doxxed and relocated.","heading":"ZachXBT Doxxing and Immediate Market Impact","sources":[{"url":"https://www.coindesk.com/markets/2022/01/27/wonderland-rattled-after-cofounder-tied-to-alleged-quadrigacx-190m-exit-scam","name":"Wonderland Rattled After Co-Founder Tied to Failed QuadrigaCX Exchange — CoinDesk","type":"news_article","credibility":1},{"url":"https://www.coindesk.com/tech/2022/01/27/how-did-a-former-quadriga-exec-end-up-running-a-defi-protocol-wonderland-founder-explains","name":"How Did a Former Quadriga Exec End Up Running a DeFi Protocol — CoinDesk","type":"news_article","credibility":1},{"url":"https://www.coindesk.com/markets/2022/01/26/wonderlands-time-sets-low-of-420-after-liquidation-cascade","name":"Wonderland's TIME Sets Low of $420 After Liquidation Cascade — CoinDesk","type":"news_article","credibility":1},{"url":"https://www.banklesstimes.com/news/2023/01/31/time-wonderland-drops-40percent-as-cfo-sifu-revealed-to-be-michael-patryn-of-quadrigacx/","name":"TIME Wonderland Drops 40% as CFO 'Sifu' Revealed to be Michael Patryn — Bankless Times","type":"news_article","credibility":2},{"url":"https://cointelegraph.com/news/co-founder-of-defunct-exchange-quadrigacx-allegedly-runs-wonderland","name":"Co-founder of defunct exchange QuadrigaCX allegedly runs Wonderland — CoinTelegraph","type":"news_article","credibility":1}],"severity":"critical"},{"content":"QuadrigaCX was a Vancouver-based cryptocurrency exchange co-founded by Michael Patryn (as Omar Dhanani) and Gerald Cotten in 2013. In December 2018, Cotten died in India from complications of Crohn's disease while on his honeymoon, and it subsequently emerged that he was allegedly the sole person with access to the exchange's cold wallet private keys. The exchange filed for creditor protection under Canada's Companies' Creditors Arrangement Act (CCAA) in January 2019 with approximately $190 million in customer funds reported missing. The Ontario Securities Commission (OSC) later published a comprehensive investigative report concluding that Cotten had operated QuadrigaCX as a fraud and Ponzi scheme: he opened accounts under pseudonyms, credited himself with fictitious cryptocurrency balances, and used new customer deposits to cover withdrawal requests. The OSC attributed approximately $115 million of the $169 million in client losses to Cotten's fraudulent trading. Patryn has maintained he departed QuadrigaCX in 2016, before the scale of the alleged fraud became apparent, and the OSC's findings regarding the fraud post-dated his claimed departure. However, critics and journalists including Amy Castor have described Patryn as a formative influence on the exchange and characterized him as a mentor to Cotten. The OSC's formal finding that QuadrigaCX was a Ponzi scheme is a Tier 1 regulatory conclusion.","heading":"Connection to QuadrigaCX","sources":[{"url":"https://www.cbc.ca/news/business/osc-quadriga-gerald-cotten-1.5607990","name":"Crypto exchange Quadriga was a fraud and founder was running Ponzi scheme, OSC report finds — CBC News","type":"news_article","credibility":1},{"url":"https://www.osc.ca/quadrigacxreport/where-did-the-funds-go.html","name":"OSC QuadrigaCX Report — Where Did the Funds Go","type":"regulatory","credibility":1},{"url":"https://amycastor.com/2022/01/27/quadrigacx-cofounder-michael-patryn-resurfaces-as-oxsifu-treasury-manager-of-wonderland/","name":"QuadrigaCX cofounder Michael Patryn resurfaces as 0xSifu — Amy Castor","type":"news_article","credibility":2},{"url":"https://coingeek.com/quadrigacx-fraud-not-ceos-death-led-to-loss-of-169m-in-user-funds/","name":"QuadrigaCX fraud, not CEO's death, led to loss of $169M in user funds — CoinGeek","type":"news_article","credibility":2}],"severity":"critical"},{"content":"Following the Sifu revelation, a community governance proposal was submitted on January 27, 2022 calling for the removal of Patryn as treasury manager; it passed with over 83% of voters supporting his removal. A subsequent, more consequential vote asked the community whether to wind down Wonderland entirely and return treasury assets to holders. That vote, which attracted over 22,000 participating addresses and was described at the time as one of the most widely participated governance proposals in DeFi history, concluded with approximately 55.1% of token weight voting to continue operations and 44.9% voting to dissolve — a split heavily influenced by the voting behavior of large token holders ('whales') who predominantly favored dissolution versus the retail majority who favored continuation. Despite the narrow vote in favor of continuing, Sestagalli announced that the division in the community made a coherent path forward impossible and stated the protocol would unwind. He later reversed this position, declaring on February 1, 2022 in a Discord Q&A session: 'I'm here to fix this and make it all back.' The treasury at that time retained approximately $325 million in assets, slightly exceeding the then-current market capitalization of outstanding TIME tokens. Following his dismissal, Patryn's wallet transferred approximately 3,000 ETH (worth approximately $8.28 million) through Tornado Cash, a privacy mixing service, in several batches. Patryn stated the funds were personal holdings and that he used Tornado Cash for privacy from 'thousands of randos' monitoring his wallet. The broader Frog Nation ecosystem — including Abracadabra (SPELL) and Popsicle Finance (ICE) — experienced significant collateral price declines during the same period.","heading":"Governance Crisis and Wind-Down","sources":[{"url":"https://www.bloomberg.com/news/articles/2022-01-31/wonderland-community-to-keep-defi-project-going-after-scandal","name":"Wonderland Community Votes to Keep DeFi Project Going After Scandal — Bloomberg","type":"news_article","credibility":1},{"url":"https://www.coindesk.com/tech/2022/02/01/wonderland-founder-im-here-to-fix-this-and-make-it-all-back","name":"Wonderland Founder: 'I'm Here to Fix This and Make It All Back' — CoinDesk","type":"news_article","credibility":1},{"url":"https://cointelegraph.com/news/wonderland-co-founder-throws-in-the-towel-on-beleaguered-defi-project","name":"Wonderland co-founder throws in the towel on beleaguered DeFi project — CoinTelegraph","type":"news_article","credibility":1},{"url":"https://www.coindesk.com/tech/2022/02/01/address-linked-to-wonderlands-sifu-cashes-out-28m-worth-of-ether","name":"Address Linked to Wonderland's Sifu Cashes Out via Tornado Cash — CoinDesk","type":"news_article","credibility":1},{"url":"https://cryptobriefing.com/0xsifu-moves-thousands-of-eth-to-tornado-cash/","name":"0xSifu Moves Thousands of ETH to Tornado.Cash — CryptoBriefing","type":"on_chain","credibility":2},{"url":"https://www.coindesk.com/markets/2022/01/28/tokens-related-to-wonderland-developer-plunge-after-quadrigacx-revelation","name":"Tokens Related to Wonderland Developer Plunge After QuadrigaCX Revelation — CoinDesk","type":"news_article","credibility":1}],"severity":"critical"},{"content":"Daniele Sestagalli is an Italian-Swiss software developer who built multiple DeFi protocols under the Frog Nation brand, including Abracadabra Money, Popsicle Finance, and Wonderland Finance. He launched Wonderland in September 2021, recruiting Patryn as treasury manager after meeting him in trading and yield farming discussion groups where Patryn demonstrated knowledge of OlympusDAO's bonding mechanics. In his public explanation of the hiring decision, Sestagalli described conducting personal due diligence and acknowledging Patryn's criminal record, characterizing it as 'some mistakes when he was young' related to 'credit card stuff' and describing the QuadrigaCX situation as 'definitely unclear.' Sestagalli stated he met Patryn in person after Sestagalli himself had been doxxed and relocated, at which point Patryn disclosed his identity. By Sestagalli's own account, he was aware of Patryn's true identity for approximately one month before ZachXBT's public disclosure and chose not to inform the community. After the scandal broke, Sestagalli acknowledged the failure of judgment and committed to making investors whole, though the protocol's effective dissolution made this difficult to execute. In addition to the governance fallout, Sestagalli personally suffered an estimated $15 million in liquidation losses on leveraged wMEMO positions he had taken on his own protocol.","heading":"Daniele Sestagalli's Role and Prior Knowledge","sources":[{"url":"https://www.coindesk.com/tech/2022/01/27/how-did-a-former-quadriga-exec-end-up-running-a-defi-protocol-wonderland-founder-explains","name":"How Did a Former Quadriga Exec End Up Running a DeFi Protocol — CoinDesk","type":"news_article","credibility":1},{"url":"https://www.fxleaders.com/news/2022/01/12/who-is-daniele-sestagalli-learn-about-time-spell-and-popsicle/","name":"Who is Daniele Sestagalli — FX Leaders","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/tech/2022/02/01/wonderland-founder-im-here-to-fix-this-and-make-it-all-back","name":"Wonderland Founder: 'I'm Here to Fix This and Make It All Back' — CoinDesk","type":"news_article","credibility":1},{"url":"https://bowtiedisland.com/dani-sesta-liquidated-on-his-own-protocol-wmemo-in-freefall/","name":"Dani Sesta Liquidated On His Own Protocol — BowTiedIsland","type":"community_report","credibility":3}],"severity":"high"},{"content":"The TIME token's decline was driven by multiple overlapping factors. In the days before the Sifu exposure, the broader crypto market declined in January 2022, causing leveraged wMEMO collateral positions on Abracadabra Money to be liquidated in a cascade. TIME fell from near $10,000 at its November 2021 peak to a low of $420 before the Sifu story broke — a decline of over 95% — with automated buyback mechanisms failing to stabilize the price at backing value. The subsequent Sifu revelation accelerated the sell-off by an additional 40% in 24 hours. By February 2022, the TIME token was effectively worthless as a going-concern governance token. The treasury, estimated at $325 million in early February, remained intact as a backing pool per the protocol's design, but the governance crisis and dissolution uncertainty depressed investor confidence. Multiple community members alleged that Sifu had moved approximately $45 million from the Wonderland treasury without transparent accounting, though this claim is based on community-level reporting and has not been independently verified by Tier 1 sources. The combined effect across the Frog Nation ecosystem also dragged down SPELL (Abracadabra) and ICE (Popsicle Finance) tokens substantially.","heading":"Token Collapse and Investor Losses","sources":[{"url":"https://www.coindesk.com/markets/2022/01/26/wonderlands-time-sets-low-of-420-after-liquidation-cascade","name":"Wonderland's TIME Sets Low of $420 After Liquidation Cascade — CoinDesk","type":"news_article","credibility":1},{"url":"https://www.bfia.org/2022/01/31/time-token-collapses-60-amid-revelation-that-co-founder-is-a-known-convict/","name":"TIME Token Collapses 60% Amid Revelation that Co-Founder is a Known Convict — BFIA","type":"news_article","credibility":2},{"url":"https://cryptobriefing.com/daniele-sestagalli-projects-tank-amid-wonderland-drama/","name":"Daniele Sestagalli Projects Tank Amid Wonderland Drama — CryptoBriefing","type":"news_article","credibility":2},{"url":"https://financefeeds.com/is-time-wonderland-a-scam/","name":"Is TIME Wonderland a Scam? — FinanceFeeds","type":"news_article","credibility":2},{"url":"https://cointelegraph.com/news/wonderland-s-treasury-saga-exposes-the-fragility-of-dao-projects-today","name":"Wonderland's treasury saga exposes the fragility of DAO projects — CoinTelegraph","type":"news_article","credibility":1}],"severity":"critical"}],"timeline":[{"date":"2021-09-02","event":"Wonderland Finance launches on Avalanche with TIME token at approximately $554. Protocol is a fork of OlympusDAO, offering rebase staking yields exceeding 80,000% APY. Michael Patryn (0xSifu) serves as treasury manager from the outset.","source":"Capital.com / AltcoinBuzz","source_url":"https://capital.com/wonderland-time-price-prediction"},{"date":"2021-11-07","event":"TIME token reaches an all-time high of approximately $10,063, representing a gain of roughly 1,700% from launch. Protocol treasury peaks at approximately $680 million in backing assets.","source":"CoinGecko / Capital.com","source_url":"https://www.coingecko.com/en/coins/wonderland"},{"date":"2022-01-16","event":"Wonderland transitions stakers from MEMO to wMEMO (Wrapped MEMO) as the primary governance and yield-bearing token, deprecating TIME and MEMO as actively traded tokens.","source":"Wonderland / Medium (Volta Club DAO Newsletter)","source_url":"https://medium.com/wonderland-news/archives-wonderland-update-transition-to-wmemo-6-january-22-2e432b12b282"},{"date":"2022-01-26","event":"A cascade of leveraged wMEMO liquidations drives TIME to a low of $420 as collateral positions on Abracadabra Money are forcibly unwound. Automated protocol buybacks fail to execute effectively. Daniele Sestagalli suffers an estimated $15 million in personal liquidation losses.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2022/01/26/wonderlands-time-sets-low-of-420-after-liquidation-cascade"},{"date":"2022-01-27","event":"ZachXBT publishes a Twitter thread publicly identifying 0xSifu as Michael Patryn, co-founder of QuadrigaCX, stating he confirmed the identity with Sestagalli directly. TIME drops approximately 32% in European hours. Sestagalli publicly confirms Patryn's identity the same day, acknowledging he had known for one month.","source":"CoinDesk / CoinTelegraph","source_url":"https://www.coindesk.com/markets/2022/01/27/wonderland-rattled-after-cofounder-tied-to-alleged-quadrigacx-190m-exit-scam"},{"date":"2022-01-28","event":"Sestagalli asks Patryn to step down from his treasury manager role. A governance proposal to remove Sifu passes with over 83% of participating token holders voting in favor. SPELL and ICE tokens (related Frog Nation protocols) also decline sharply.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2022/01/28/tokens-related-to-wonderland-developer-plunge-after-quadrigacx-revelation"},{"date":"2022-01-29","event":"A broader governance vote on whether to wind down Wonderland and return treasury funds to holders concludes. The vote results in approximately 55.1% in favor of continuation and 44.9% in favor of dissolution — the most participated governance vote in DeFi history at the time, with over 22,000 addresses voting.","source":"Bloomberg / CoinDesk","source_url":"https://www.bloomberg.com/news/articles/2022-01-31/wonderland-community-to-keep-defi-project-going-after-scandal"},{"date":"2022-01-30","event":"Sestagalli signals Wonderland will be dissolved despite the majority vote to continue, citing irreconcilable community division and stating 'the Wonderland experiment is coming to an end.'","source":"CoinTelegraph","source_url":"https://cointelegraph.com/news/wonderland-co-founder-throws-in-the-towel-on-beleaguered-defi-project"},{"date":"2022-02","event":"Patryn's wallet transfers approximately 3,000 ETH worth $8.28 million to Tornado Cash in multiple batches following his removal. Patryn claims the funds are personal holdings transferred for privacy. Sestagalli reverses his wind-down position in a Discord Q&A, stating 'I'm here to fix this and make it all back.'","source":"CoinDesk / CryptoBriefing","source_url":"https://www.coindesk.com/tech/2022/02/01/address-linked-to-wonderlands-sifu-cashes-out-28m-worth-of-ether","date_original":"2022-02-01"}],"sources_used":[{"url":"https://www.coindesk.com/markets/2022/01/27/wonderland-rattled-after-cofounder-tied-to-alleged-quadrigacx-190m-exit-scam","name":"Wonderland Rattled After Co-Founder Tied to Failed QuadrigaCX Exchange — CoinDesk","type":"news_article","archive_url":"http://web.archive.org/web/20250103225729/https://www.coindesk.com/markets/2022/01/27/wonderland-rattled-after-cofounder-tied-to-alleged-quadrigacx-190m-exit-scam","credibility":1,"archive_timestamp":"2025-01-03T22:57:29+00:00"},{"url":"https://www.coindesk.com/tech/2022/01/27/how-did-a-former-quadriga-exec-end-up-running-a-defi-protocol-wonderland-founder-explains","name":"How Did a Former Quadriga Exec End Up Running a DeFi Protocol — CoinDesk","type":"news_article","archive_url":"http://web.archive.org/web/20260607192822/https://www.coindesk.com/tech/2022/01/27/how-did-a-former-quadriga-exec-end-up-running-a-defi-protocol-wonderland-founder-explains","credibility":1,"archive_timestamp":"2026-06-07T19:28:22+00:00"},{"url":"https://www.coindesk.com/tech/2022/02/01/wonderland-founder-im-here-to-fix-this-and-make-it-all-back","name":"Wonderland Founder: 'I'm Here to Fix This and Make It All Back' — CoinDesk","type":"news_article","archive_url":"http://web.archive.org/web/20251206200318/https://www.coindesk.com/tech/2022/02/01/wonderland-founder-im-here-to-fix-this-and-make-it-all-back","credibility":1,"archive_timestamp":"2025-12-06T20:03:18+00:00"},{"url":"https://www.coindesk.com/markets/2022/01/26/wonderlands-time-sets-low-of-420-after-liquidation-cascade","name":"Wonderland's TIME Sets Low of $420 After Liquidation Cascade — CoinDesk","type":"news_article","archive_url":"http://web.archive.org/web/20260624185946/https://www.coindesk.com/markets/2022/01/26/wonderlands-time-sets-low-of-420-after-liquidation-cascade","credibility":1,"archive_timestamp":"2026-06-24T18:59:46+00:00"},{"url":"https://www.coindesk.com/markets/2022/01/28/tokens-related-to-wonderland-developer-plunge-after-quadrigacx-revelation","name":"Tokens Related to Wonderland Developer Plunge After QuadrigaCX Revelation — CoinDesk","type":"news_article","archive_url":"http://web.archive.org/web/20251117235837/https://www.coindesk.com/markets/2022/01/28/tokens-related-to-wonderland-developer-plunge-after-quadrigacx-revelation","credibility":1,"archive_timestamp":"2025-11-17T23:58:37+00:00"},{"url":"https://www.coindesk.com/tech/2022/02/01/address-linked-to-wonderlands-sifu-cashes-out-28m-worth-of-ether","name":"Address Linked to Wonderland's Sifu Cashes Out via Tornado Cash — CoinDesk","type":"news_article","archive_url":"https://web.archive.org/web/20260725001628/https://www.coindesk.com/tech/2022/02/01/address-linked-to-wonderlands-sifu-cashes-out-28m-worth-of-ether","credibility":1,"archive_timestamp":"2026-07-25T00:16:28+00:00"},{"url":"https://www.bloomberg.com/news/articles/2022-01-31/wonderland-community-to-keep-defi-project-going-after-scandal","name":"Wonderland Community Votes to Keep DeFi Project Going After Scandal — Bloomberg","type":"news_article","archive_url":null,"credibility":1,"archive_error":"forbiddenaccess","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://www.theglobeandmail.com/business/article-quadriga-co-founder-served-time-in-us-for-role-in-identity-theft/","name":"Quadriga co-founder served time in U.S. prison for role in identity-theft ring — The Globe and Mail","type":"news_article","archive_url":"http://web.archive.org/web/20260312125541/https://www.theglobeandmail.com/business/article-quadriga-co-founder-served-time-in-us-for-role-in-identity-theft/","credibility":1,"archive_timestamp":"2026-03-12T12:55:41+00:00"},{"url":"https://www.cbc.ca/news/business/osc-quadriga-gerald-cotten-1.5607990","name":"Crypto exchange Quadriga was a fraud and founder was running Ponzi scheme, OSC report — CBC News","type":"news_article","archive_url":"http://web.archive.org/web/20260724234651/https://www.cbc.ca/news/business/osc-quadriga-gerald-cotten-1.5607990","credibility":1,"archive_timestamp":"2026-07-24T23:46:51+00:00"},{"url":"https://www.osc.ca/quadrigacxreport/where-did-the-funds-go.html","name":"OSC QuadrigaCX Report — Where Did the Funds 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