30-YEAR-OLD CRYPTO EXCHANGE FOUNDER DIES, LEAVING NO ONE WITH EXCHANGE PASSWORD
So I’ve never heard of the Canadian crypto exchange QuadrigaCX. But I’ll be sure to remember it as this is just totally crazy. That’s because the 30-year-old founder Gerald Cotten allegedly died in India in December. But Cotten is the only one who had the password to the exchange’s “cold storage.” So what does that mean? It means that QuadrigaCX can’t access over $190 million that belongs to investors. That’s right, $190 million of people’s money is now…. Lost? Nothing like this has ever happened before. But what is the real story? It’s really not clear. But it stinks to high heaven.
YOUNG CRYPTO GURU DIED OF “CROHN’S DISEASE” COMPLICATIONS IN INDIA. WHAT?!
So evidently, Cotten had “sole responsibility for handling the funds and coins.” That means no one else can access the stored funds. But oddly, the exchange didn’t announce Cotten’s death until mid-January. They said that he died “due to complications with Crohn’s disease on December 9, 2018 while traveling in India, where he was opening an orphanage to provide a home and safe refuge for children in need.” This sounds like a bad made for TV movie, right? Cotten’s widow, Jennifer Robertson, says that she has Cotten’s laptop but even technical experts can’t bypass it’s encryption. That’s right. She doesn’t have the laptop’s password.
SPECULATION OF FAKED DEATH, THEFT OF MILLIONS IS POSSIBLE
But there have been other reports that some of these inaccessible funds were moved after Cotten’s death. And while dying of Crohn’s disease isn’t unheard of, in this instance it is intensely suspicious. Did he fake his death? So far, all we know is that the Canadian government has confirmed that “a Canadian” died in India. But they can’t confirm anything else because of privacy laws. But that stinks even more. Investors have no idea if they will ever see their money again. So keep an ear out for this story. There will be more to come.