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;

Bigmugu:

Chuks9000:

Brotherly

Oja tii burst!

Sakamaje

.

They should click "forget password"

you be real Nigerian

Nogodye:
They should click "forget password"

Bigmugu:
Brotherly

No vex jàré. I tot it was the passport photo of the late cryptorist

Nogodye:
They should click "forget password"

Hahahaha .
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!

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

Na wa

Jeez!

hgd

Bush meat don carry hunter

h

I don't get what people are still doing in crypto

the owner is very selfish

They better look for a way out. There must be a way out as that nigga up there has said, click forget password

okay

Isoright o

The beginning of the end

..

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

Eran lo...

My money!!!!! Jesu

Make them come Benin, make we call am for mirror

It has finished

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

Such a handsome and promising young man

i don’t know y , buh i find this very funny...
died with password ...lol