CANADA – QuadrigaCX clients, request for police to dig up Gerald Cotton’s body to confirm what’s the reason of his death.
The lawyers of QuadrigaCX customers, who invested and lost their money in his cryptocurrency, ask the police to disinter the body of this Canadian company.
QuadriagaCX’s founder, Gerald Cotten, passed away in December 2018 in India. He died during his honeymoon from the complications of his Crohn’s disease.
Quadriga CX used to be the largest digital asset exchange in Canada. Cotten is the only holder of the password to the company’s accounts in $200 million-excess. The effort to recover the logins were unsuccessful.
Miller Thomsen, a law firm, demanded the Royal Canadian Mounted Police to exhume the body of the 30-year-old CEO so that they can address mysterious happenings about Cotten’s death. Also, this is to confirm if he’s deceased.
The widow of Cotten named Jennifer Robertson announced in January 2019 that she couldn’t access the cold wallet of QuadrigaCX. It was proclaimed in a court affirmation.
The cold wallet is a system of offline storage intended as a safekeeping precaution. It’s to avoid hackers from thieving the whole online cryptocurrency reserves in a security crack.
Only the minimum assets needed daily are kept in a hot wallet, along with the majority of investment reserves held in cold storage offline.
As per Robertson, she stated that there must be a $198,000-excess of tokens in cold storage. She added that the laptop where her husband used to carry out the business was encrypted. Moreover, she mentioned that she doesn’t know the recovery key or password.
Robertson also stated that despite thorough and repeated sources, she wasn’t able to search for any written down-passwords.
As of now, QuadrigaCX is facing bankruptcy proceedings in the country, with over 115,000 out of 363,000 users unsettled money.
A study conducted by the auditing firm Ernst & Young, found significant problems in how the trade was managed. It includes the findings that the CEO built accounts on the Quadriga scheme under pen names that were possibly used in the exchange.
Substantial funds transferred to Cotten personally, as well as other relevant parties, were also found. The auditor was able to recover around $36 million in missing capitals.
After the death of Cotten was announced, online collusion theories arose, signifying that he faked his death and escaped with the money.
Cotten was diagnosed with Crohn’s disease six years before he died. It’s an inflammatory bowel illness that’s not typically fatal.
As per Robertson’s lawyers, she got heartbroken after finding out the request from users.