Crypto CEO dies with the password to unlock $200+ million of customers’ Bitcoin.

Crypto CEO dies with the password to unlock $200+ million of customers’ Bitcoin.

“After Gerry’s death, Quadriga’s inventory of cryptocurrency has become unavailable and some of it may be lost,” said his widow.

The chief executive of cryptocurrency company Quadriga CX has died, and he’s apparently the only one with the ability to unlock all his customers’ coins.

Without their digital keys, his clients lose access to their funds. The company’s board of directors said last week it is seeking creditor protection.

The online startup can’t retrieve about C$190 million ($145 million) in Bitcoin, Litecoin, Ether and other digital tokens held for its customers, according to court documents filed Jan. 31 in Halifax, Nova Scotia. Nor can Vancouver-based Quadriga CX pay the C$70 million in cash they’re owed.

Access to Quadriga CX’s digital “wallets” — an application that stores the keys to send and receive cryptocurrencies — appears to have been lost with the passing of Quadriga CX Chief Executive Officer Gerald Cotten, who died Dec. 9 in India from complications of Crohn’s disease. He was 30.

Cotten was always conscious about security — the laptop, email addresses and messaging system he used to run the 5-year-old business were encrypted, according to an affidavit from his widow, Jennifer Robertson. He took sole responsibility for the handling of funds and coins and the banking and accounting side of the business and, to avoid being hacked, moved the “majority” of digital coins into cold storage.

His security measures are understandable. Virtual currency exchanges suffered at least five major attacks last year. Japan, home to some of the world’s most active digital-asset exchanges, has also hosted two of the biggest known crypto hacks: the Mt. Gox debacle of 2014 and the theft of nearly $500 million in digital tokens from Coincheck Inc. last January.

The problem is, Robertson said she can’t find his passwords or any business records for the company. Experts brought in to try to hack into Cotten’s other computers and mobile phone met with only “limited success” and attempts to circumvent an encrypted USB key have been foiled, his widow, who lives a suburb of Halifax, said in the court filing.

What a mess.

Below, related tweets from the deceased’s company and others. Quadriga CX identifies itself on Twitter as a “Canadian Cryptocurrency exchange platform [whose] goal is to provide an easy to use platform to simplify the process of buying and selling Bitcoins.”

 

 

 

 

 

 

 

 

 

 

 

 

 

Facebook Comments

198 thoughts on “Crypto CEO dies with the password to unlock $200+ million of customers’ Bitcoin.

  1. Pingback: cheap lasix 40 mg
  2. Pingback: Cialis 10mg canada
  3. Pingback: Royal CBD
  4. Pingback: RoyalCBD
  5. Pingback: RoyalCBD
  6. Pingback: Royal CBD
  7. Pingback: RoyalCBD.com
  8. Pingback: cbd oil georgia
  9. Pingback: nevada cbd
  10. Pingback: new jersey
  11. Pingback: RoyalCBD.com
  12. Pingback: RoyalCBD
  13. Pingback: RoyalCBD.com
  14. Pingback: RoyalCBD.com
  15. Pingback: Royal CBD
  16. Pingback: RoyalCBD
  17. Pingback: RoyalCBD.com
  18. Pingback: Kratom near me
  19. Pingback: Escort amsterdam
  20. Pingback: حزن و الم
  21. Pingback: CBD for sale
  22. Pingback: Webinar Training
  23. Pingback: Buy spice online
  24. Pingback: Sonia Randhawa
  25. Pingback: maeng da kratom
  26. Pingback: Sonia Randhawa
  27. Pingback: cbd for pain
  28. Pingback: Sonia Randhawa
  29. Pingback: Savannah kittens
  30. Pingback: Sonia Randhawa
  31. Pingback: Online jobs
  32. Pingback: tribunnews
  33. Pingback: websites for sale
  34. Pingback: file transfer
  35. Pingback: cialis generic
  36. Pingback: CBD oil UK
  37. Pingback: CBD oils
  38. Pingback: buy CBD oils
  39. Pingback: CBD
  40. Pingback: kratom near me
  41. Pingback: make money online
  42. Pingback: contextual
  43. Pingback: app free download
  44. Pingback: apps for pc
  45. Pingback: app for pc
  46. Pingback: apps for pc
  47. Pingback: games free downloa
  48. Pingback: best CBD gummies
  49. Pingback: best CBD oil
  50. Pingback: best CBD oil
  51. Pingback: best CBD gummies
  52. Pingback: best CBD oil
  53. Pingback: best CBD oil
  54. Pingback: best CBD oil
  55. Pingback: best CBD oil
  56. Pingback: best CBD capsules
  57. Pingback: best CBD capsules
  58. Pingback: best CBD oil
  59. Pingback: Exotic carts
  60. Pingback: buy ambien online
  61. Pingback: buy xanax
  62. Pingback: Consultant SEO
  63. Pingback: pegging harness
  64. Pingback: buy ciprofloxacin
  65. Pingback: penis enhancement
  66. Pingback: CBD store
  67. Pingback: best CBD capsules
  68. Pingback: CBD for sale
  69. Pingback: Royal CBD cream
  70. Pingback: best CBD oil
  71. Pingback: CBD oil 2500mg
  72. Pingback: proxy website
  73. Pingback: yasaka scissors
  74. Pingback: référencement
  75. Pingback: barbering scissors
  76. Pingback: Glock 19
  77. Pingback: THC Oil
  78. Pingback: free app download
  79. Pingback: CBD gummies
  80. Pingback: JUUL FLAVORS
  81. Pingback: best CBD oil
  82. Pingback: CBD oil
  83. Pingback: CBD
  84. Pingback: CBD
  85. Pingback: CBD
  86. Pingback: CBD
  87. Pingback: CBD
  88. Pingback: Dank vapes
  89. Pingback: Buy weed online
  90. Pingback: Puppies for sale
  91. Pingback: THC vape juice
  92. Pingback: coinchomp
  93. Pingback: best CBD oil
  94. Pingback: dax history
  95. Pingback: Google
  96. When someone writes an article he/she keeps the idea
    of a user in his/her mind that how a user can be aware of it.
    Therefore that’s why this piece of writing is perfect.
    Thanks!

  97. This is really interesting, You’re a very skilled blogger.
    I’ve joined your rss feed and look forward to seeking more of your great post.
    Also, I have shared your website in my social networks!

  98. Do you have a spam problem on this website; I also am a blogger,
    and I was curious about your situation; many of us
    have created some nice procedures and we are looking to exchange techniques with
    other folks, be sure to shoot me an e-mail if interested.

Leave a Reply

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

shares