RE: ... — Hive

Update from QuadrigaCX support:

“Thank you for your patience, I apologize for any delay experienced during this process so far. Below is an update on our current Cibc lawsuit, we are expecting to have withdrawals full resolved within the next two weeks.

Unfortunately the CIBC situation has impacted all transfers, as opposed to ones just to CIBC.

CIBC was the former bank of our payment processor, and they are currently witholding our funds that we use to process withdrawals. The specific reasons for this action aren't entirely known, however it is widely believed to be their attempt at hindering the Bitcoin industry in Canada while investing in blockchain technologies themselves.

We are also able to still have your withdrawal reviewed and refunded back to your account if you request this to happen.

On Friday, the Ontario Superior Court judge in the case issued a ruling on the interpleader motion.
While we were hoping for a straightforward and expedient transfer of the funds back to our accounts, the judge has decided to make it slightly more complicated. With that said, it is good news overall as the process is moving forward.
The judge ordered that CIBC transfer the full balance of the accounts to the superior court, for the purpose of distribution by the judge to the appropriate parties, which will be sorted out in a case management meeting directly with the judge asap.
The above process requires a bit of paperwork (such as a joint affidavit between us and Billerfy regarding funds allocation), however from our understanding it will not be problematic.
The judge also gave us the green light to sue CIBC directly for the damages that they have caused, a process which we will be commencing immediately.

All in all, we're in the final stages of this situation being wrapped up. Thank you for your patience and understanding as we have worked through our first major battle with the Canadian banking oligopoly that seems dete rmined to harm the cryptocurrency industry at any cost.”