Loading...

Cryptocurrency Company's Owner Dies With Password And Investors' Money

Cryptocurrency investors face difficult times.

Posted  600 Views updated 10 months ago

A Canadian Cryptocurrency company has found itself in deep waters of mess after its owner died without dropping the password for the company. 

Quadriga, Canada's biggest cryptocurrency exchange, said it's unable to gain access to $145 million of bitcoin and other digital assets after Gerald Cotten, its 30-year old CEO and co-founder, died of complications arising from Crohn's Disease while traveling in India.

Many of the digital currencies held by Quadriga are stored offline in accounts known as "cold wallets," a way of protecting them from hackers.

Cotten appears to have been the only person with access to the wallets, according to court documents cited by Canadian media and posted online by cryptocurrency news site CoinDesk, CNN reports. 

This has generated reactions from owners who have called out the company for an instant solution. 

Loading...

Your reaction?

0
LOL
0
LOVED
0
PURE
0
AW
0
FUNNY
0
BAD!
0
EEW
0
OMG!
0
ANGRY
0 Comments