Crypto Trader Boss Passes Away With Passwords To Clients’ R2.5 Billion

Mr Cotten held "sole responsibility for handling the funds and coins" and no other members of the team could access the stored funds, his wife Jennifer Robertson said in a sworn affidavit as she filed for credit protection on 31 January.

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Cryptocurrency physical colored bitcoin coins. Pink bitcoin, blue bitcoin and yellow bitcoin
Cryptocurrency physical colored bitcoin coins. Pink bitcoin, blue bitcoin and yellow bitcoin (Photo Credit: www.shutterstock.com)

QuadrigaCX, Canada’s cryptocurrency exchange company, is unable to repay clients $190 million (R2.5 billion) after its founder passed away with their passwords.

Sky News reported that Gerald Cotten, 30, was the only person with passwords to access customers’ money – and his wife is now receiving threats.

The report said Cotten died “due to complications with Crohn’s disease” while travelling in India to open an orphanage in December, his wife Jennifer Robertson said.

Cotten held “sole responsibility for handling the funds and coins” and no other members of the team could access the stored funds.

QuadrigaCX customers have been complaining on social media that they have not been able to withdraw money from their accounts.

Some are questioning whether Mr Cotten is even dead and others have accused the company of lying to them.

For more read: Crypto trader boss dies with password to clients’ £110m

 

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