Hedera executives believe that Facebook potentially hijacked their idea for a council of trusted companies to operate a blockchain, but that the company probably hasn’t broken the law in any way. Hedera hoped to strike a partnership with Facebook, and build their crypto project on a finished product.
“According to details spelled out in Ernst & Young’s fifth monitor’s report released Wednesday evening, QuadrigaCX appears to have never operated as a legitimate business. By the time the dominoes fell, the exchange owed 76,000 users CA$214 million in fiat and crypto. Only CA$33 million has been recovered, which leaves CA$180 million still missing.”