QuadrigaCX owes customers $190M, CEO died & had sole access to wallet keys

posted 8 months ago
Troubled Canadian crypto exchange QuadrigaCX owes its customers $190 million and reportedly cannot access most of the funds. QuadrigaCX has misplaced its cold storage wallet keys, which had lead to it filing an application for protection from bankruptcy.

The other troubles that hit Quadriga, around January 15th of this year, was the death of Gerry Cotton, the exchange’s founder and CEO. His widow said that the normal procedure was that [QuadrigaCX founder and CEO Gerald Cotten] would move the majority of the coins to cold storage as a way to protect the coins from hacking or other virtual theft. Gerald Cotten held sole responsibility for handling the funds and coins and the remaining team members have had no luck accessing the exchange’s cold wallets since.
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