'What happened at Quadriga was an old-fashioned fraud wrapped in modern technology.'

Lawyers are asking to exhume the body due to the "questionable circumstances surrounding" Gerald Cotten's death.

Ernst and Young, the accounting firm overseeing the Quadriga bankruptcy, is now asking for the proceedings to be moved from Halifax to Toronto.

Justice Darlene Jamieson said during the hearing Wednesday the case is challenging because QuadrigaCX "lacked books and records" and auditors are unable to speak the deceased owner.

The death of QuadrigaCX CEO Gerald Cotten has sparked concern about his trading practices and potential scams involving the cryptocurrency exchange.

Gerald Cotten, who died in December, transferred customers' money to his own accounts and likely traded fake currency deposits for real cryptocurrency, a recent report found.

Vancouver-based QuadrigaCX was shut down in January after its founder and sole director, 30-year-old Gerald Cotten of Fall River, N.S., died Dec. 9 while travelling in India.

Quadriga's antics highlight the need for new regulations to better suit a financial marketplace that includes virtual currencies, says Lisa Kramer of UofT.

Embattled cryptocurrency exchange QuadrigaCX has received a reprieve from its creditor protection deadline as the search for nearly $200 million in missing virtual currency continues.

More than 115,000 users of the Vancouver-based QuadrigaCX platform are owed about $260 million in cash and cryptocurrency following the demise of the unregulated company on Jan. 28.