Crypto Company Founder dies with Passwords to Investors' $190m, says Wife

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Nearly everyone who was stung by QuadrigaCX believes Gerald Cotten is alive and well or that someone else has the keys and is trying to swipe the coins.

His security measures are understandable. The problem is those riches are now out of reach after the death of the exchanges founder — the only person known to have the password for the “cold wallet” storage. His widow, Jennifer Robertson, has signed a sworn affidavit detailing that the bitcoins and related products were stored in a special server to protect them from hacking and theft. According to her, her husband died suddenly in December 2018 during a trip to India.

"For the past weeks, we have worked extensively to address our liquidity issues", a company letter says.

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9 from complications with Crohn's disease without sharing the password for his encrypted laptop.

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

When the founder of a major Canadian Bitcoin exchange died previous year, he may have taken the secret of how to unlock the security system that protects the exchange's Bitcoin reserves with him.

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The troubled company has applied for creditor protection as it struggles to access its funds and repay its customers. “If this situation continues, the users may seek legal proceedings against Quadriga which would only serve to complicate an already hard situation.”.

A court file indicates Quadriga owes 115,000 users the equivalent of C$250 million ($190.46 million). The total amount of outstanding funds is $53 million in fiat money and $137 million in cryptocurrency. After his death, access to these wallets was lost. One of the main talking points even related to the fact that no one actually knew if Gerald Cotton was in fact dead, or simply on the run with his fortunes.

She added that an expert "has had some limited success in recovering a few coins and some information on Gerry's cellphones and other computer, but not yet from the main computer he used to conduct business [with]". Technical consultants have not been able to access the exchange's cold wallets since the founder's death. She did not rule out that for the sake of this to sell crypto exchange.

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A number of web-based conspiracies have been speculated on forums such as Reddit about the locked up cryptocurrency, and Robertson claims she has received a number of threats since Cotten's death.