Following the death of a Canadian crypto founder, millions in digital currencies are locked

About $ 180 million in Cripp Currencies are frozen in the user accounts on the Quadriga Canadian digital platform after the founder, the only person with access passwords, suddenly died in December.

Gerald Cotten died 30 years after complications from Crohn's disease while on a volunteer mission in an orphanage in India - according to the facebook page of Quadriga CX, announcing his death on January 14th.

The Bitcoin, Litecoin, and Ethereum trading platform has filed a defense claim against Nova Scotia Supreme Court last week.

Quadriga has 363,000 registered users and debt from a total of about 250 million Canadian dollars to 115,000 afflicted users - understood by the widow Jennifer Robertson on behalf of the company.

In her statement, she says that Cotten's computer has a "cold wallet" of Crippe currencies that is only physically accessible, not online, and his death has left 180 million Canadian dollars in digital assets locked in the media.

Robertson said she was not involved in the business while he was alive, and that she did not know the password or the key to recover the system. She also said she had spoken to an expert who had limited access to the Cotten system, having successfully recovered part of the digital coins and some information from her computer and phone, but the majority remained inaccessible for retrieval and recovery.

Quadriga's problems make the unique challenges to the Cripto currencies. This highlights the need for governments to intervene and begin to regulate the sites for Cripta Trading.

Source: CNBC

Photo: Pixabay

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