Bitcoin worth millions is inaccessible after CEO Gerald Cotten dies in India In what sounds like the script of a new Netflix television drama, Canada’s largest cryptocurrency exchange firm cannot access accounts with close to Rs 1, crore worth of Bitcoin because its recently deceased CEO was the only person who knew the passwords. Feb 13, · On February 12, Ernst and Young (EY), the monitor of the QuadrigaCX case, released its first report with the Supreme Court of Nova Scotia. In it, EY stated that the exchange “inadvertently” moved $, in Bitcoin to a cold wallet controlled by CEO Gerald Cotten, who passed away. The report of the monitor read. Feb 06, · Customers of QuadrigaCX are out as much as $ million after CEO Gerry Cotten died; Cotten reportedly was the only one with the key to retrieve the money.
Bitcoin ceo diedBitcoin worth millions is inaccessible after CEO Gerald Cotten dies in India
For the past weeks, we have worked extensively to address our liquidity issues, which include locating our very significant cryptocurrency reserves held in cold wallets required to satisfy customer cryptocurrency balances on deposit and sourcing a financial institution to accept the bank drafts being transferred to us.
Unfortunately, these efforts have not been successful. Since we were unable to resolve these issues in a timely fashion, we did not want trading to continue on our platform. We filed for creditor protection to help resolve these matters and preserve the interests of our customers.
Filing for creditor protection allows us to work diligently through the process, and to try ensure the viability of our company. We are sure you have many questions. We are in the early stages of a long process and we do not have all the answers right now. We will provide further updates to the extent possible. QuadrigaCX values and appreciates all of its customers and its employees. We thank you for your support and understanding during this challenging time. Stay updated with all the insights.
Navigate news, 1 email day. Subscribe to Qrius. She joined First Meta in January to run the cybercurrency exchange, which aims to help customers figure out what their holdings of bitcoin are worth.
On its blog, First Meta posted a short statement about Radtke's death. Autumn was an inspiration to all of us and she will be sorely missed. Summers reports on hospitality, travel and real estate. Contact Mariah Summers at mariah. Got a confidential tip? Submit it here. Want to see more stories like this?