A Cryptocurrency Mystery: A Sudden Death Cost Cryptocurrency Investors $190 Million

May 14, 2019 08:45:55

Last December, Gerald Cotten, a Canadian entrepreneur who parlayed last year’s cryptocurrency frenzy into a personal fortune as the co-founder and CEO of QuadrigaCX, was in rural India to help open an orphanage he was funding.  At 9:45 p.m. on December 8, Cotten arrived at Fortis Escorts hospital in a state of septic shock, according to the hospital report. The patient had a history of Crohn’s disease but at age 30, given his health, traveling in remote India may not have been prudent. But twenty- four hours and two cardiac arrests later, he was announced dead.

The death of Cotten, the sole key holder to the crypto assets on the exchange also meant that $190 million worth of crypto assets are no longer accessible.

Crypto currencies have long been praised for their lack of regulation and government interference. But as the Quadriga saga continues to unfold, the international crypto investment world has raised a seemingly obvious but overlooked question: Who should be held accountable, and what is there to protect investors when faced with…


– This article was written by Grace Shao

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