Gerald Cotten who was the 30-year-old Canadian CEO of crypto currency exchange Quadriga CX, who died in India’s Jaipur on Dec 9 2018, filed a will 12 days before his death. He left all his assets to his wife Jennifer Robertson and $100,000 for his two dogs. His sudden death left customers $145 Million (₹1,038 crore) in cryptocurrency like Bitcoin and other crypto currency assets protected by his passwords un-retrievable.
CEO of Quadriga CX Exchange
Gerald Cotten launched his exchange in December 2013 with name Quadriga CX. Through this exchange he allowed users to deposit cryptocurrency and cash through online platform. He stored all digital coins in a Blockchain ledger by immutable alphanumeric code. This exchange has 3,63,000 active users and from which 92,000 had account balances in their wallets.
Cotten was always conscious about his security. He had encrypted his laptop, email accounts and messaging system to protect his 5 year old business. To protect from hacking he moved all digital coins in cold storage which was not connected to the Internet.
Some Quadriga clients who lost money in this exchange has pursuing their own legal avenues. They claims to be C$560,000 from this exchange. They filed affidavit in a Halifax court on Feb. 5 2019.
Here are the names of some other affected customers who are claiming their money:
- Tong Zou, with C$560,000 outstanding
- Epsilon One Pty Ltd., with C$1.04 million and $81,697 outstanding
- Matthew Leudy, with C$438,677 outstanding
- Benoit Gagne, with C$371,000 outstanding
- Block Trading Corp., with C$678,043
- Tin Do, with C$525,000 and 523 Ethereum
I am Pawan Kashyap currently living in Amritsar. I always try to grab new things from the cryptocurrency market. From my observations and trends in the market, I always try to provide the best and accurate information in the form of articles from this blog. Follow us on Facebook, Instagram, and Twitter to join us.
