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Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords - Investment - Nairaland

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Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Bigmugu: 6:20am On Feb 05
QuadrigaCX, Canada's leading cryptocurrency exchange company, has said it cannot repay $190m to clients because its founder died with their passwords.

Founder Gerald Cotten, 30, died "due to complications with Crohn's disease" in .

Mr Cotten held "sole responsibility for handling the funds and coins" and no other members of the team could access the stored funds, she said in a sworn affidavit as she filed for credit protection on 31 January, 2019.

Ms Robertson said about $190m in both cryptocurrency and normal money is in "cold storage" - where the company, or just Mr Cotten in this case, holds the key, not the client.

The founder held "sole responsibility for handling the funds and coins" and no other members of the team could access the stored funds, she added.

Gist Via :- https://nairatrend.com.ng/investors-lose-190m-as-ceo-of-cryptocurrency-company-dies-with-passwords/

Cc;

6 Likes 3 Shares

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Chuks9000: 6:20am On Feb 05

1 Like 2 Shares

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Bigmugu: 6:27am On Feb 05
Chuks9000:

shocked
Brotherly

2 Likes 1 Share

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by tayebest(m): 6:29am On Feb 05
Oja tii burst! cheesy cheesy cheesy

Sakamaje grin grin

45 Likes 5 Shares

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by whitebeard(m): 6:31am On Feb 05
.

18 Likes

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Nogodye(m): 6:31am On Feb 05
They should click "forget password"

310 Likes 23 Shares

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Bigmugu: 6:32am On Feb 05
grin you be real Nigerian
Nogodye:
They should click "forget password"

175 Likes 7 Shares

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Chuks9000: 6:36am On Feb 05
Bigmugu:
Brotherly
No vex jàré. I tot it was the passport photo of the late cryptorist grin

1 Like 2 Shares

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by MANNABBQGRILLS: 6:48am On Feb 05
Nogodye:
They should click "forget password"
Hahahaha cheesy grin.
END OF STORY!!

IMPORTANTLY
It is BOLDLY written in RED for Nairaland members, (Rule 16)
Praying this won't be the story in our land soon,
praying and hoping it won't be like MMM.
Be guided guys!

6 Likes 1 Share

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Datazone(m): 6:48am On Feb 05
This year has been a bad one for cryptocurrency, QuadrigaCX dies and Cryptopia was hacked 3 weeks ago. Both exchanges have been locked down.

I urge every Nairalander who's a trader on any exchange to move the currency to a wallet that they have control of the private key and trade with only a portion. Read their ToS and you'll see that in case of a hack (or exit scam) they are not liable. They will pay creditors first before their customers even if the case drags on. Don't be a fool

30 Likes 5 Shares

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by sotall(m): 6:49am On Feb 05
Na wa
Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Dreyl(m): 6:49am On Feb 05
Jeez!
Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by XaintJoel20: 6:49am On Feb 05
hgd
Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by clintino700(m): 6:50am On Feb 05
Bush meat don carry hunter grin grin

3 Likes

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by dreamwords: 6:50am On Feb 05
grin
Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by sukerefakere(m): 6:50am On Feb 05
embarassed

1 Like

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by dreamwords: 6:50am On Feb 05
grin h

1 Like

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Branduche: 6:50am On Feb 05
I don't get what people are still doing in crypto

8 Likes

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by omoadeleye(m): 6:50am On Feb 05
the owner is very selfish
Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by stanley99a(m): 6:50am On Feb 05
They better look for a way out. There must be a way out as that nigga up there has said, click forget password grin

20 Likes

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by freemanbubble: 6:51am On Feb 05
okay

Isoright o

The beginning of the end
Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Hexilon: 6:51am On Feb 05
..

8 Likes 1 Share

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by BruncleZuma: 6:51am On Feb 05
grin grin grin grin

Pastor wen fit wake this bros don hammer...collect 19 milla tithe (Laughs in mockery and parables)

7 Likes 2 Shares

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by asumo12: 6:51am On Feb 05
Eran lo...

1 Like

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by mediaNGR: 6:51am On Feb 05
My money!!!!! Jesu

14 Likes 2 Shares

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Pierce008: 6:51am On Feb 05
cry
Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by Rolly22(m): 6:51am On Feb 05
Make them come Benin, make we call am for mirror

25 Likes 1 Share

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by nurex01(m): 6:52am On Feb 05
It has finished

1 Like 2 Shares

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by stanley99a(m): 6:52am On Feb 05
Branduche:
I don't get what people are still doing in crypto
If you take out time to learn and understand it, you will know bro

21 Likes 1 Share

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by don4real18(m): 6:52am On Feb 05
Such a handsome and promising young man

1 Like

Re: Investors Lose $190m As Owner Of Cryptocurrency Company Dies With Passwords by obojememe: 6:52am On Feb 05
i don’t know y , buh i find this very funny...
died with password ...lol

3 Likes 2 Shares

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