The British Columbia government is taking decisive action against financial crime, targeting Michael Patry, co-founder of the now-defunct Quadriga CX, once Canada's largest crypto exchange. A third unexplained wealth order (UWO) has been filed with the British Columbia Supreme Court, aiming to seize assets potentially linked to criminal activity.

If successful, the order could lead to the forfeiture of $250,200 in cash, 45 gold bars, luxury watches, and expensive jewelry. The focus is on disrupting the financial incentives of criminal enterprises by targeting ill-gotten gains, stripping criminals of their resources, and preventing further harm to victims.

Quadriga CX collapsed in 2019, with its CEO Gerald William Cotten mysteriously passing away in 2018, owing around $190 million in crypto to 115,000 customers that either went missing or remained inaccessible. The British Columbia government aims to redirect proceeds of crime to victim services programs and crime prevention initiatives.