The death of Gerald Cotten, the Chief Executive Officer of Digital-asset exchange Quadriga CX has left one question unanswered, how do the company’s customers recover their combined C$190 million ($145 million)?
This is a multi-million dollar question that only the late Cotten can answer, unfortunately for Quadriga CX’s customers. According to reports, Cotten died with the password that unlocks Quadriga CX’s digital “wallets” that houses the C$190 million. The “wallets” is an application that stores the keys to send and receive cryptocurrencies.
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Cotten had died last year, December 9, 2018, in India from complications of Crohn’s disease, without transferring the passwords. This has prevented the online startup from retrieving about C$190 million ($145 million) in Bitcoin, Litecoin, Ether and other digital tokens held for its customers, according to court documents filed January 31 in Halifax, Nova Scotia.
Why is it so difficult to retrieve?
According to an affidavit from his widow, Jennifer Robertson, Cotten, who died at the age of 30, was described as a conscious person when it comes to security, prompting the encryption of the laptop, email addresses and messaging system he used to run the 5-year-old business.