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Crypto boss dies with passwords needed to unlock customer accounts
#1
tinywhat Oh no!  He took the passwords with him to the grave! 


Quote:Customers of a Canadian cryptocurrency exchange are reportedly unable to access $190 million of funds after the company’s founder died with the passwords needed to access the money.

Gerald Cotten, the 30-year-old founder of QuadrigaCX, died due to complications with Crohn’s disease, according to Sky News, citing Cotten’s wife, Jennifer Robertson. The executive reportedly passed away in December while traveling in India to open an orphanage.
 I have a small amount of bitcoin at CoinBase.com. I really don't know if it's affiliated with this company or not.   tinyshocked

Quote:Citing a sworn affidavit by Robertson as she filed for credit protection, Sky News reports that Cotten held “sole responsibility for handling the funds and coins.”

About $190 million in cryptocurrency and traditional money is said to be in “cold storage,” with the digital key held by Cotten. While Robertson has Cotten’s laptop, she does not know its password and even a security expert has been unable to get past the device’s encryption.

Some QuadrigaCX customers have taken to social media to voice their frustration over the deadlock.
In a statement posted on its website on Jan. 31, QuadrigaCX said that it applied for creditor protection in the Nova Scotia Supreme Court “to allow us the opportunity to address the significant financial issues that have affected our ability to serve our customers.”

“For the past weeks, we have worked extensively to address our liquidity issues, which include attempting to locate and secure our very significant cryptocurrency reserves held in cold wallets, and that are required to satisfy customer cryptocurrency balances on deposit, as well as sourcing a financial institution to accept the bank drafts that are to be transferred to us,” the company added, in its statement. “Unfortunately, these efforts have not been successful.”
Source
I bet a lot of people are upset right now. I mean, I'm sorry for the family and their loss, but...   tinyshocked



Being the critical thinker I am, I have to wonder if this guy didn't fake his death so he could steal all that money for his own? He was in India to open a Orphanage when he died?  Umm... yeah, right. 

Does anyone here have bitcoin with that company?  If so, I'd like to hear your thoughts.  Or, maybe I woudn't.   tinysurprised
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#2
(02-06-2019, 02:13 AM)Mystic Wanderer Wrote: ...Does anyone here have bitcoin with that company?  If so, I'd like to hear your thoughts.  Or, maybe I woudn't.   tinysurprised

I have no crypto-currency and to be honest I'm not a big fan of any type of promissory note -including the
pound sterling and the dollar!

You can't eat them and they only work in a market based on trust. I can swap you a rabbit for a chicken, they
are real and the transaction doesn't involve anyone else needed to be paid.

For a company dealing with the alleged $190 million's worth of electronic tender and only one guy as the key
to the internet safe tells you a lot about the standard of said company. I'll go with your idea, Mystic.
He's done a runner!
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#3
(02-06-2019, 12:50 PM)BIAD Wrote:
(02-06-2019, 02:13 AM)Mystic Wanderer Wrote: ...Does anyone here have bitcoin with that company?  If so, I'd like to hear your thoughts.  Or, maybe I woudn't.   tinysurprised

I have no crypto-currency and to be honest I'm not a big fan of any type of promissory note -including the
pound sterling and the dollar!

You can't eat them and they only work in a market based on trust. I can swap you a rabbit for a chicken, they
are real and the transaction doesn't involve anyone else needed to be paid.

For a company dealing with the alleged $190 million's worth of electronic tender and only one guy as the key
to the internet safe tells you a lot about the standard of said company. I'll go with your idea, Mystic.
He's done a runner!

Dont worry people your millions are safe with me as I am the only one with the key. oops I seem to have died, sad but shit happens.
Yep he did a runner
WAR IS PEACE, FREEDOM IS SLAVERY, IGNORANCE IS STRENGTH, THE EU IS FATHER AND MOTHER
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#4
"So, you're telling me you have a Crypto-Currency account with someone who has promised you, Only he has the password and Not To Worry, No-One can access YOUR Account but him. Not even his Wife who is by the way, wearing some nice Jewelry and expensive looking  Fur Coat."
"Are you worried?"

"No and don't bother me with minor details."  mediumdontwannahearit

So says the young Yuppy type Hipster.  tinyhuh

"Yeah, hows that Crypto-Currency account working out for now?"  tinywondering

mediumfrightened
Can't Fix Stupid!  tinybiggrin
Once A Rogue, Always A Rogue!
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