Business

Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords

Pinterest LinkedIn Tumblr

Gerald Cotten dies causing wreck to investors

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

Founder , 30, died “due to complications with Crohn’s disease”

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.

ALSO SEE  18-Year-Old Kills Nigerian Worker In Canada

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.

ALSO SEE  Instagram Now Hides Total Likes & Views In Posts

More from talkGlitz.tv

ALSO SEE  10 High Paying Jobs For Students In Canada 2019
Advertisements

Write A Comment