Boss of crypto company dies with password to customers' $190 million

Coinbase Crypto Cold Wallet

Boss of crypto company dies with password to customers' $190 million

But then it is a story ripe for such theories.

An Indian government-issued death certificate obtained by CoinDesk corroborates QuadrigaCX's account of the passing of CEO Gerald Cotten in early December.

"Most of the business of the companies was being conducted by Gerry wherever he and his computer were located", Robertson said in her affidavit.

Quadriga is the latest cryptocurrency exchange to face challenges.

QuadrigaCX, which filed for bankruptcy protection in the Supreme Court of Nova Scotia on January 31, was created to "simplify the process of buying and selling" the bitcoin cryptocurrency, according to a cached version of its website.

Some have large balances, with the largest affected user claim reportedly valued at approximately $70 million, court filings show.

Most of the exchange's Bitcoin, Litecoin, Ether, and fiat money were stored in one device, and only the co-founder and CEO of QuadrigaCX, Gerald Cotten, had the password.

The exchange's new directors voted to "temporarily pause" the exchange on January 26, according to Robertson. The platform allowed its users to deposit cash or cryptocurrency with Quadriga.

The system preventing access is Quadriga's so-called "cold storage" system, an offline safety mechanism that prevents a user's cryptocurrency wallet from being exposed to hackers during transactions, but which also prevents a user from withdrawing Bitcoins from that wallet while it is locked inside.

But that's now part of the problem.

But the death certificate, issued by the Government of Rajasthan's Directorate of Economics and Statistics and obtained from a source involved in the events, indicates that Cotten died on December 9 - the same date given in a December 12 statement of death from a Halifax funeral home filed in the Nova Scotia court by his wife, Jennifer Robertson.

Ms Robertson added in the affidavit that she and her colleagues have had threats made against them from online cryptocurrency communities - especially from Reddit users.

Another wrote in French: "I have sent lots of emails, but I just get automatic responses, I'm not even able to get my crypto out".

She added, "I do not have any records or documents for the companies". The combination of peculiar circumstances prompted many cryptocurrency experts to question the official story.

A former RCMP inspector skilled in computer and cyber-security has been retained. Unfortunately, these efforts have not been successful'. But due to the circumstances of the unrecoverable fund, online rumours have suggested he faked his death.

According to CoinDesk, the company is considering selling off its operating platform.

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