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$ 190 million gone forever? The Crypto Manager dies with passwords needed to unlock customer accounts



Customers of a Canadian crypto exchange are apparently unable to access $ 1

90 million of funds after the company's founder died with the passwords needed to access the money.

Gerald Cotten, the 30-year-old founder of QuadrigaCX, died due to complications with Crohn's disease, according to Sky News, referring to Cotts wife, Jennifer Robertson. The executive man died in December of December while traveling in India to open an orphanage.

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Referring to the swearing of Robertson when she filed for credit protection, Sky News reports that Cotten held "sole responsibility for managing funds and coins."

About $ 190 million in cryptocurrency and traditional money is said to be in "cold storage" with the digital key Cotten holds. While Robertson has Cots laptop, she doesn't know her password, and even a security expert hasn't managed to get past the device's encryption.

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Some QuadrigaCX customers have taken to social media to speak their frustration over the death.

In a statement posted on its website on January 31, QuadrigaCX said it was seeking civil protection in the Nova Scotia Supreme Court "to give us the opportunity to address the significant economic problems that have affected our ability to serve our customers. "

" In the past few weeks, we have been working to solve our liquidity problems, which, among other things, are trying to find and secure our very significant cryptographic reserves held in cold wallets, and that is necessary to satisfy customer cryptocurrency deposits on deposits. , as well as buying a financial institution to accept the bank proposals to be transferred to us, "the company added, in its statement. "Unfortunately, these efforts have not been successful."

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Fox News has reached out to QuadrigaCX with a request for comment on this story.

Follow James Rogers on Twitter @ jamesjrogers


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