Canadian crypto platform ezBtc’s founder David Smillie is accused of stealing around 13 million CAD ($9.5 million) from investors and using it for gambling.
The news was announced by the British Columbia Securities Commission after their investigation.
The Commission stated:
“As more Bitcoin came into Smillie’s Exchange Accounts from ezBtc, more Bitcoin were sent from Smillie’s Exchange Accounts to the gambling sites. This is a strong indication that Smillie used funds from ezBtc to fund his accounts at those gambling sites.”
There is a chance that the accounts connected to crypto funds belonged to either David Smillie himself or any of his employees. Over 21.3% of these transactions went to CloudBet deposit addresses that had also received Bitcoin from Smillie’s accounts on Poloniex, Binance, and Kraken.
David Smillie did not attend the hearings and his current location remains unknown.
