Press "Enter" to skip to content

Report: Crypto Exchange QuadrigaCX CEO’s Stumping Death & Missing Of $145 Million Funds

The Canadian Cryptocurrency Exchange is in trouble and diving down especially after the sudden and mysterious death of the Gerald Cotten, co-founder, and CEO of QuadrigaCX. The establishment is reportedly looking over the missing CA$190 million dollars ($145 million) in digital assets, local news outlet The Globe and Mail report on Feb. 1.

Also Read: In 2019, Investors Might Choose Gold Over Bitcoin: Jan Van Eck

The exchange is already gripped in legal discords with the Canadian Imperial Bank of Commerce (CIBC) and now is inaccessible.

Reportedly, the exchange filed an application with the Companies’ Creditors Arrangement Act (CCAA) for creditor protection in the Nova Scotia Supreme Court and on Jan 31, 2019, the exchange announced that it is going to close and entering into bankruptcy-like streamlining. The company has $286,000 (CA$375,000) in cash, while it owes $198,435,000 (CA$260 million) to its customers.

Gerald Cotten’s Cryptic Death

The mysterious death of Gerald Cotten on Dec. 9 and its announcement on Jan. 14 which is followed by the missing keys is also strange and indigestible. According to the Globe and Mail, the administration along with Gerry’s wife are not able to find the deposits and suffering liquidity crisis ever since Gerry passed away.

It has also come to notice that Gerry used to work from his home and encrypted computer. As he was the sole in charge of the wallet and the keys, the firm is not able to identify and locate the keys. In order to safeguard the digital assets from hacking and theft, the exchange held the funds in cold wallets. This offline storage arrangement was considered a theft-free system and protected by digital security keys which were kept by only Gerry.

However, the exchange hasn’t clearly mentioned the following consequences after Gerald Cotton’s demise and lost cold-wallet access, but people started to conclude the funds have gone in the astray as the authorized person is himself no more. The exchange also declared on the single-page website about the lost access to cold wallets which is storing tens of millions of digital assets, and unable to gain a processor.

Soon after the cotton’s passing news, many agitated platform users asked for proof of Cotten’s death through Twitter and Reddit. Since last year loads of customers were unable to withdraw funds due to a legal battle between the exchange and CIBC because of some ownership claims and allegedly frozen the accounts and suspicion on QuadrigaCX.

Also Read: Malware Attempts to Hack Cryptocurrency Exchange Accounts, Mac Users at Target

Jennifer Robertson, wife and partner of Gerald Cotten stated the cause of Gerry’s death is due to the complications of Crohn’s disease while traveling in India with an objective to provide a refuge and open an orphanage for the needy children.

QuadrigaCX has hired the accounting firm, Ernst & Young, to act as a “monitor” in hearings which is about to commence from February 5.

Probably, the system and hearings in court can reveal important information behind Gerry’s death and QuadrigaCX missing wallet keys along with stored cryptocurrency. One thing is sure enough to understand that users don’t faith blindly on any of the crypto exchanges to keep their hard earned money. Due diligence is must here in this growing industry before taking any steps.


  1. Hi there! This post could not be written much better! Looking through this article reminds
    me of my previous roommate! He continually kept preaching about this.
    I am going to forward this article to him. Pretty sure he’ll
    have a good read. Thank you for sharing!

  2. go to this web-site go to this web-site February 17, 2019

    You really make it seem really easy together with your presentation however
    I in finding this topic to be actually something that I believe I
    might by no means understand. It kind of feels too complex and extremely large for me.
    I am looking ahead on your subsequent put up, I will try to get the grasp of it!

  3. Megan Megan February 17, 2019

    Have you ever thought about including a little bit more than just your articles?
    I mean, what you say is fundamental and everything.
    However imagine if you added some great visuals or video
    clips to give your posts more, “pop”! Your content is excellent but with pics
    and video clips, this website could definitely be
    one of the best in its field. Amazing blog!

  4. this this February 18, 2019

    Very descriptive article, I liked that a lot. Will there
    be a part 2?

  5. check that check that February 18, 2019

    Hey! Someone in my Myspace group shared this website with us so I came
    to check it out. I’m definitely loving the information.
    I’m bookmarking and will be tweeting this to my followers!
    Great blog and fantastic design.

  6. Continued Continued February 21, 2019

    Usually I do not read article on blogs, but I would
    like to say that this write-up very compelled me to
    check out and do it! Your writing style has been surprised me.
    Thanks, very great post.

  7. Chloe Chloe February 22, 2019

    Quality content is the main to interest the viewers to pay a quick
    visit the website, that’s what this website is providing.

  8. check over here check over here February 22, 2019

    I’m not that much of a internet reader to be honest but your
    blogs really nice, keep it up! I’ll go ahead and bookmark your
    site to come back later on. Many thanks

  9. Synthetic Urine Reviews Synthetic Urine Reviews February 22, 2019

    Wow, awesome blog layout! How long have you been blogging for?
    you make blogging look easy. The overall look of your site is
    excellent, as well as the content!

  10. click for more info click for more info February 22, 2019

    It’s great that you are getting thoughts from this piece of writing
    as well as from our dialogue made here.

  11. read the full info here read the full info here February 23, 2019

    Hi! This is my first visit to your blog!
    We are a group of volunteers and starting a new project
    in a community in the same niche. Your blog provided us valuable information to work on. You have done
    a wonderful job!

  12. April 3, 2019

    Neat blog! Is your theme custom made or did you download it from somewhere?
    A theme like yours with a few simple tweeks would really make my
    blog shine. Please let me know where you got your theme.
    Bless you

  13. sbobet alternatif sbobet alternatif April 4, 2019

    I know this if off topic but I’m looking into starting my own blog and was wondering what all
    is required to get set up? I’m assuming having a blog like yours would cost
    a pretty penny? I’m not very web savvy so I’m not
    100% positive. Any tips or advice would be greatly appreciated.
    Appreciate it

  14. Roseanna Roseanna April 13, 2019

    I think the admin of this site is actually working hard in support of his web site,
    as here every data is quality based information.

  15. mete mete April 13, 2019

    I ɑm in fаct grateful to the һolder of tһis site who has shared this fantastic paragraph at at this place.

  16. quick cash loan quick cash loan April 13, 2019

    Excellent blog you’ve got here.. It’s hard to find
    excellent writing like yours these days. I seriously appreciate people like you!
    Take care!!

Leave a Reply to Report: Crypto Exchange QuadrigaCX CEO’s Stumping Death & Missing Of $145 Million Funds | 1 Bitcoins Cancel reply

Your email address will not be published. Required fields are marked *