Mystery deepens over dead CEO with $145 mn worth crypto passwords

Mystery deepens over dead CEO with $145 mn worth crypto passwords

That's the position investors of Vancouver-based crypto company QuadrigaCX find themselves in after the company's CEO Cotten died suddenly from complications related to crohn's disease while traveling in India.

Quadriga, Canada's biggest cryptocurrency exchange, said it's unable to gain access to $145 million of bitcoin and other digital assets after the death of Cotten, its 30-year old CEO and Co-Founder. Another report states that the Canadian cryptocurrency exchange is also not regulated (as it claims) by the British Columbia Securities Commission (BCSC).

The list includes: a large home in Kelowna, B.C.; a property on Nova Scotia's western shore; an undeveloped property in Fall River, N.S.; a 2017 Lexus; an "airplane;" a 2015 Mini Cooper and a 50-foot Jeanneau 51 sailboat. According to the alert, even if a platform calls itself an exchange, it may not be trading or selling securities.

Ms Robertson, in an affidavit filed January 31, said she was not involved in the business, and she insisted Mr Cotten - as QuadrigaCX's CEO and sole director - was the only person with access to the private digital keys.

Canadian Securities Administrators are urging Canadians to be cautious about investing in trading platforms through its awareness campaign.

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Cotten's death has now left QuadrigaCX with the task of figuring out a way to refund the money of scores of cryptocurrency holders and on Tuesday, February 5, it said that it had been granted creditor protection in the Nova Scotia Supreme Court.

According to court documents, Cotten's will was filed on 27 November 2018 - 12 days before his death.

Cotten's death sparked controversy in the crypto community, with some customers claiming he faked his death to steal their assets.

On that latter point, however, CoinDesk has obtained the death certificate issued by the Government of Rajasthan's Directorate of Economics and Statistics. Cotten was reportedly admitted to the hospital in the evening of December 8 and died of cardiac arrest a little less than a day later on December 9. Cotton had complained of watery stools, vomiting, cramps and abdominal pain. He was declared dead at approximately 7:26 PM on December 9, 2018. Cotten was in the company of Jennifer Kathleen Margaret Robertson, his wife, when he was admitted. A cryptocurrency researcher has revealed that he found no evidence that QuadrigaCX even had a cold wallet. He was also feeling feverish when he came to the hospital, sources said.

Back in October, the exchange was caught in another legal dispute with the Canadian Imperial Bank of Commerce [CIBC], which it accused of withholding and preventing access of funds worth $21.6 million.

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