Funny But Harsh, Owner Of Cryptocurrency Dies With Passwords, Investors Lose Millions

Spread the love

QuadrigaCX, Canada’s leading cryptocurrency exchange company, has said it cannot repay $190m to clients because its founder died with their passwords.

Founder Gerald Cotten, 30, died “due to complications with Crohn’s disease” in .

Mr Cotten held “sole responsibility for handling the funds and coins” and no other members of the team could access the stored funds, she said in a sworn affidavit as she filed for credit protection on 31 January, 2019.

Ms Robertson said about $190m in both cryptocurrency and normal money is in “cold storage” – where the company, or just Mr Cotten in this case, holds the key, not the client.

The founder held “sole responsibility for handling the funds and coins” and no other members of the team could access the stored funds, she added.

1,371 total views, 5 views today


Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *