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Detail Analysis

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Date:

Status:

Count:

Contributor:

September 2, 2019

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Verified

1

zerofriction.io

Loss Amount:

3,800,000

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Recovered Amount:

-

Currency:

Dollars, BTC

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Exchange

Assets

Scams

Extended Method:

Rug Pull

Data Sources:

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Dave Smillie launched and largely single-handedly ran EZ-BTC, one of four firms entrusted with determining bitcoin price in Canada. No one had any visibility into the operation and even today, exact figures are not known about what is actually owed to customers of the exchange. Dave Smillie owes a sum of over $3.8m to his former business partner Rick Godwin, and there are five other lawsuits also pending in the courts which can give some idea. However, it is very likely that many further sums are owed to individuals who haven’t bothered filing any claim. It would appear that all funds were stored with Dave Smillie personally (and thus improper cold storage), limited records were kept, and obviously nothing was insured in any way. It also appears that Dave Smillie tried very hard to get the money back on behalf of customers - by complaining to the gambling site where he gambled away their hard-earned money.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.