So we heard that people who invested in cryptocurrency with QuadrigaCX, Canada, will lose their money which amounts to nearly $190 milion. And this is because the founder died without transferring the password to anyone.
30-year-old Gerald Cotten, the founder of QuadrigaCX, Canada’s largest cryptocurrency exchange, died last year in India from complications with Crohn’s disease. Before his death, he was the only one with the password to unlock the funds and didn’t get to transfer that knowledge to anyone. How sad!
All efforts to retrieve password has proven abortive and this includes that of his widow, Jennifer Roberston, who said in a statement that she has recovered her late husband’s work laptop, but is unable to access it because she doesn’t know the password.
The company said they’ve hired a security expert to try to access the funds, but he has been unsuccessful so far.
The company is no longer accepting investments on their platform after it was put on pause by directors late last month.