Cryptocurrency firm CEO dies locking password to his $190 million assets

Cryptocurrency firm CEO dies locking password to his $190 million assets

Washington: Making millions of easy money through Cryptocurrency has attracted attention from across the world before the governments decided to step in.

Well as easy and good as it sounds this easily earned money can also be locked down if you tend to forget the password.

Similar is the story of a Canadian cryptocurrency firm’s CEO aged around 30 locked away his $190 million cryptocurrency investments with his sudden demise after suffering from complications of Crohn’s disease (an intestinal inflammation disorder), TOI reports.

The 30-year-old CEO, Gerald Cotten, founder of QuadrigaCX reportedly died in India throwing his clients into a tizzy since security experts have failed to unlock the encrypted password.

Cotten was suffering from Crohn’s disease, according to the company and Cotten’s wife, Jennifer Robertson.

He died “while traveling in India, where he was opening an orphanage to provide a home and safe refuge for children in need,” the company’s social media page said.

His death news became public only after his wife Robertson and the QuadrigaCX filed for credit protection in Canadian courts, saying they can no longer access Cotten’s encrypted account that held the clients assets.

On January 31, QuadrigaCX asked 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 stated, adding, “Unfortunately, these efforts have not been successful.”

Meanwhile, many online forums have started conspiracy theories, including his death news whether he has died at all and if the whole operation is a scam, and why Cotten would travel to India if he was suffering from Crohn’s disease given India’s drinking water issues.

“Is there any evidence to say that he ever went to India?” someone asked on Reddit.

“You must keep going back in time until one verifiable fact is produced and then moving forward from there. I feel for a group of alleged conmen, we’re taking a lot of the story at their word, no?”

“I have friends in India looking up all infos they have about a Canadian who died around Jaipur in local newspaper… will keep you posted,” volunteered another person.