Bitcoin trader dies with password
The unexpected death of the owner of Canada's largest cryptocurrency exchange has left £ million of cryptocurrency locked in a digital wallet to which he reportedly had the only password. Crypto boss dies with passwords needed to unlock millions of dollars from customer accounts. Customers of a Canadian cryptocurrency exchange are reportedly unable to access $ million of funds. Feb 04, · Crypto trader boss dies with password to clients' £m Gerald Cotten, 30, was the only person with passwords to access customers' money - and his wife is now receiving threats. By Alix Culbertson, news reporter Tuesday 5 February , UK.
Bitcoin trader dies with passwordCrypto trader boss dies with password to clients' £m | World News | Sky News
QuadrigaCX's founder Gerald Cotten, 30, died "due to complications with Crohn's disease" while travelling in India to open an orphanage in December, his wife Jennifer Robertson said. Mr Cotten held "sole responsibility for handling the funds and coins" and no other members of the team could access the stored funds, she said in a sworn affidavit as she filed for credit protection on 31 January. The founder held "sole responsibility for handling the funds and coins" and no other members of the team could access the stored funds, she added.
She has her husband's laptop but she does not know the password and a technical expert they hired had not been able to bypass its encryption, she told the court.
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. A statement from the board said: "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.
Many businesses saw their fortunes rise - and then fall - with those of Bitcoin and some people even lost their homes. QuadrigaCX customers have been complaining on social media that they have not been able to withdraw money from their accounts. Ally Shapoval wrote: "Hello, Quadriga! I withdrew money from my Quadriga account to my bank more than 2 weeks ago.
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. The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. Due to the sheer scale of this comment community, we are not able to give each post the same level of attention, but we have preserved this area in the interests of open debate. Please continue to respect all commenters and create constructive debates.
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Millions of dollars worth of cryptocurrency appear to be locked in a cold storage wallet with no way of accessing them. Show 0 comments. Comments Share your thoughts and debate the big issues. Already registered?
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