The document outlines the claims process for affected users of the QuadrigaCX cryptocurrency exchange following its bankruptcy, detailing the appointment of Miller Thomson and Ernst & Young as representative counsel. Users were required to submit proof of claims by August 31, 2019, although claims can still be filed afterward without a bar date, with specific instructions provided for submission methods. It also includes guidance on tax responsibilities related to cryptocurrency transactions and information about ongoing communications with representative counsel.

1. QuadrigaCX -
Miller Thomson
Claims Process For
Affected Users

2. Table of Contents
● Claims Process
● Miller Thomson and Ernst & Young (EY) Appointment as Representative
Counsel
● Official Committee
● How to Submit Your Claims
● Communication With Representative Counsel
● Frequently Asked Questions
● APPENDIX
○ Links to Forms
○ Quadriga Bankruptcy Proceeding
○ Quadriga CCAA Proceeding
○ More Information

3. Claims Process
On June 27th, 2019, the Nova Scotia Supreme Court approved the claims process for
Affected Users.
The deadline to file a proof of claim was set at August 31, 2019. However, the Bankruptcy
and Insolvency Act (the “BIA”) does not impose a “bar date” for claims precluding parties
who believe they have a claim from filing one; rather, the BIA provides that a claimant
who fails to file a claim does not share in any distribution that was made prior to the filing
of their claim (assuming claim is valid).
Accordingly, if you were unable to file your proof of claim before the August 31, 2019
deadline, Representative Counsel recommends you file your proof of claim with the
Trustee as soon as possible, since a distribution has neither occurred nor been declared.

4. Claims Process (Continued)
In order to file a claim, Affected Users must fill out and submit the Affected User Proof of
Claim form. Please carefully review the Instruction Letter included with the Affected User
Proof of Claim form to ensure proper completion of your claim.
Please note that all Proof of Claim forms should be properly completed and delivered to
Ernst & Young Inc. in its capacity as trustee in bankruptcy of 0984750 B.C. Ltd. DBA
Quadriga CX and Quadriga Coin Exchange. Sending your information to Representative
Counsel does not constitute filing a claim in the claims process.

5. Miller Thomson and Cox & Palmer
Appointment as Representative Counsel
Pursuant to the order of the Nova Scotia Supreme Court issued February 28, 2019 (the
“Representative Counsel Appointment Order”), Miller Thomson LLP and Cox & Palmer
(together, “Representative Counsel”), were appointed as representative counsel on behalf
of users affected by the shutdown of the QuadrigaCX cryptocurrency exchange platform
(collectively, the “Affected Users”).
Miller Thomson has assigned insolvency lawyer Asim Iqbal as part of the team to
represent the 76,000 QuadrigaCX clients affected by its collapse. Miller Thomson has also
formed the Official Committee of Affected Users which is a group of victims speaking for
all those affected.

6. Official Committee
Pursuant to the Representative Counsel Appointment Order, Representative Counsel, in
consultation with the Monitor, was directed to establish the Official Committee of
Affected Users (the “Official Committee”), to provide input and direction to
Representative Counsel.
By Order of the Nova Scotia Supreme Court, dated March 19, 2019, the Official Committee
has been appointed (the “Committee Appointment Order”). The Official Committee
consists of seven (7) Affected Users (“Committee Members”) and two (2) Alternate
Committee Members who are representative of the diverse interests comprising the
Affected Users. The list of Committee Members can be found in the Committee
Appointment Order.

7. How to Submit Your Claim
Proof of Claim forms may be submitted by hand delivery, courier, fax OR email as follows:
Ernst & Young Inc.
Court-appointed Trustee of Quadriga
Ernst & Young Tower
100 Adelaide Street West
Toronto, Ontario M5H 0B3
Attn: Quadriga Trustee
Email: quadriga.trustee@ca.ey.com
Fax: 416-864-1174
Any questions related to filling out the Affected User Proof of Claim form may be directed
to Representative Counsel at quadrigacx@millerthomson.com.

8. Communications With Representative
Counsel
Representative Counsel has established this webpage to facilitate communications with
the Affected Users. The webpage will include information and documents relevant to
Affected Users.
Representative Counsel has received from Ernst & Young Inc. a list of Affected Users,
including their contact information and QuadrigaCX customer IDs.
Please note that Representative Counsel is experiencing a high volume of email inquiries.
Part of Representative Counsel’s duties prescribed by the Representative Counsel
Appointment Order, is to communicate with Affected Users regarding the proceedings.
However, this aspect of our mandate can be time consuming and expensive.
Representative Counsel is dedicated to fulfilling its mandate in the most cost-effective
way to limit the drain on the resources of the estate. To achieve this objective, we request
that Affected Users who wish to communicate with Representative Counsel follow the
procedure set out herein.

9. Communications With Representative
Counsel (Continued)
Representative Counsel is committed to responding to Affected Users, rather than
members of the general public or the media.
Email is the preferred form of communication with Representative Counsel. Affected
Users are encouraged to voice their concerns by tweeting to the Official Committee as a
method to reduce costs on communications. The Official Committee’s twitter account
(@QCXCommittee) can be found here. The Official Committee will select and collate
tweets from Affected Users for inclusion in updated future FAQs.
Representative Counsel advises Affected Users to refer to our FAQ, updated FAQ and tax-
related FAQ sheets for further information.

10. Communications With Representative
Counsel (Continued)
If you have a question for Representative Counsel, please ensure the following details are
included in your email to quadrigacx@millerthomson.com:
● Your full name;
● Your Quadriga CX ID;
● The amount of your claim; and
● The nature of your claim:
○ Fiat;
○ Cryptocurrency (ex. BTC, Ethereum, etc.);
○ Pending Withdrawal;
○ Completed Withdrawal; or
○ Other (please clarify).
This will ensure that Representative Counsel’s communications are efficient and that
parties communicating with Representative Counsel are in fact Affected Users. If you do
not provide the information listed above in your email, you may not receive a response
from Representative Counsel.

11. Frequently Asked
Questions
Updated: April 16, 2019

12. Do I need to file my 2018 tax return even though I don’t
have information from the QuadrigaCX website?
YES. Individuals are required to file their tax returns and provide an estimate of tax owing
by April 30, 2019 for the 2018 year.

13. What source(s) for information should I use to prepare
my 2018 tax return?
The Canada Revenue Agency (“CRA”) has stated that if you acquire (by mining or
otherwise) or dispose of cryptocurrency, you must keep records of your cryptocurrency
transactions. The CRA has suggested that taxpayers export information from these
exchanges periodically to avoid losing the information necessary to report transactions.
The CRA has stated that the taxpayer is responsible for keeping all required records and
supporting documents for at least six years from the end of the last tax year to which they
relate.

14. What source(s) for information should I use to prepare
my 2018 tax return? (Continued)
The CRA has stated that taxpayers should maintain the following records with respect to
cryptocurrency transactions:
● the date of the transactions
● the receipts of purchase or transfer of cryptocurrency
● the value of the cryptocurrency in Canadian dollars at the time of the transaction
● the digital wallet records and cryptocurrency addresses
● a description of the transaction and the other party (even if it is just their
cryptocurrency address)
● the exchange records
● accounting and legal costs
● the software costs related to managing your tax affairs.

15. What source(s) for information should I use to prepare
my 2018 tax return? (Continued)
If the taxpayer is a miner, the CRA has stated that a miner should also keep the following
records:
● receipts for the purchase of cryptocurrency mining hardware
● receipts to support expenses and other records associated with the mining
operation (such as power costs, mining pool fees, hardware specifications,
maintenance costs, and hardware operation time)
● the mining pool details and records.
If you have any specific questions or concerns, you should contact your tax advisor.

16. Shouldn’t I just wait until I have all of the information
from the QuadrigaCX website before I file my taxes?
NO, waiting to obtain information from the QuadrigaCX website is not recommended
since individuals have a statutory obligation to file tax returns and estimate taxes by April
30, 2019 for the 2018 year. Furthermore, the CRA has stated that taxpayers are,
themselves, responsible for maintaining certain information regarding cryptocurrency
transactions. At this time, it is unknown whether (and to what extent) each Affected User
might suffer a loss with respect to his/her investment through the QuadrigaCX website.
Further, it is not certain whether any such loss would arise in the 2018 year or the 2019
year. As such, it may not be known whether (and to what extent) each Affected User
might have an income inclusion or a capital gain with respect to the Affected User’s
transactions using the QuadrigaCX website. If you fail to properly report or pay tax owing
by April 30, 2019 for the 2018 year, you may be subject to penalties and/or interest. If you
have any specific questions or concerns, you should contact your tax advisor.

17. APPENDIX

18. Form Links
● Instruction Letter from Trustee
● Affected User Proof of Claim
● Guide to Filling Out a Proof of Claim
● Guide to Proving Your Claim
● Claims Process FAQ
● Completed Withdrawals FAQ
● Sample Email Template
● Sample Proof of Claim
● Sample Schedule to Proof of Claim (“Schedule A”)

19. Quadriga Bankruptcy Proceeding
On April 11, 2019, the Court issued an Order (the “Bankruptcy Transition Order”)
terminating the CCAA Proceedings of Quadriga Fintech Solutions Corp., Whiteside
Capital Corporation and 0984750 B.C. Ltd. (dba QuadrigaCX and Quadriga Coin
Exchange).
On April 15, 2019, Quadriga Fintech Solutions Corp., Whiteside Capital Corporation and
0984750 B.C. Ltd. (dba QuadrigaCX and Quadriga Coin Exchange) made an assignment
into bankruptcy, naming Ernst & Young Inc. as the trustee in bankruptcy (in such
capacity, the “Trustee”).

20. Quadriga CCAA Proceeding
Pursuant to the Order of the Honourable Mr. Justice Michael J. Wood of the Nova Scotia
Supreme Court issued February 5, 2019 (the “Initial Order”): (i) Quadriga Fintech Solutions
Corp., Whiteside Capital Corporation and 0984750 B.C. Ltd. (dba QuadrigaCX and
Quadriga Coin Exchange) (collectively, the “Applicants”) were granted protection under
the Companies’ Creditors Arrangement Act, R.S.C. 1985, c.C-36, as amended (the “CCAA”);
and (ii) Ernst & Young Inc. was appointed as Monitor of the Applicants.
Further information regarding the Quadriga case is available on the Monitor’s website at
https://documentcentre.eycan.com/Pages/Main.aspx?SID=1445.

21. For more information visit the QuadrigaCX
page on the Miller Thomson website.