Canadian Bitcoin Exchange Doesn’t Have The Combination to The $190 Million Vault – IOTW Report

Canadian Bitcoin Exchange Doesn’t Have The Combination to The $190 Million Vault

Gerald Cotten, 30-year-old CEO of Canadian Bitcoin Exchange Quadriga, died unexpectedly in December from complications of Crohn’s Disease while on a trip to India to found orphanages. Cotten had stored the holdings of an estimated 115,000 bitcoin holders in secured “cold storage” files.

Unfortunately, Cotten took the password to his personal computer as well as the keys to all those encrypted accounts with him. The firm reported recently in its bankruptcy filing that it has been unable to unlock an estimated $190 million dollars in holdings. More

19 Comments on Canadian Bitcoin Exchange Doesn’t Have The Combination to The $190 Million Vault

  1. This is easy (harder for me cuz I’m drunk)

    The Password is

    “Well I never picked Cotten…but My Brother did and Sister did and

    My daddy died Young…Working in a Coal Mine”

    8
  2. Just reading an article about the high quality of forged documents, such as death certificates, coming out of India these days.
    Wouldn’t be surprised to find that Mr. Cotton is on a beach somewhere sipping Margaritas.

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  3. It’s kind of funny in an odd, twisted sort of way. RIP Mr. Cotten and I hope this debacle will convince other exchanges to ensure that the access codes are available should key people up and die. I would have thought that simple precaution would have been automatic in a business such as this.

    7
  4. Jack Daniels took his recipe to the grave, as well. Couldn’t remember his combo, kicked his safe, got an infection in his foot, and died. Useless trivia of the day.

    3
  5. @scr_north February 6, 2019 at 10:58 pm

    > I hope this debacle will convince other exchanges to ensure that the access codes are available should key people up and die.

    No trust among… err… some people.

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