Company loses 190 million over lost password!

Gerald Cotten, the 30-year-old founder of QuadrigaCX, died in India on Dec. 9, 2018 Gerald Cotton was the founder and CEO of QuadrigaCX a bitcoin exchange. He died suddenly at age 30 on Dec. 9, 2018. He was the only person with the password to access the accounts. His laptop was encrypted and security experts have been unable to gain access to the accounts.  "The Quadriga situation is quite shocking," says Emin Gun Sirer, associate professor of Computer Science at Cornell University. "What's even more surprising is the exchange's inability to locate their own funds on the blockchain."

Blockchain is a protocol that acts as a public ledger of cryptocurrency transactions. "The one thing that blockchain businesses can do that no other fiat business can is to provide public evidence of financial transactions," Sirer told Fox News, via email. "It's astounding that this exchange has not been able to produce a list of addresses under their control."

So here we are 2 months later and no one can access the accounts which has sent his wife to file for bankruptcy protection for the company and may mean that the 190 million the company had been managing for their clients is lost forever.

 

title

Content Goes Here