$145 Million Lost After Death Of Crypto Exchange Owner.

hyunee

full member

Activity: 476

Merit: 100

There was an article saying that the $145,000,000 was lost even before the death of QuadrigaCX. I think it's a fake death, maybe they lost the funds and the CEO pretends he died.

Quote from: Veerashanka on February 01, 2019, 11:25:43 PM

This Kind Of Incidents Disturb Cryptocurrency World and raised Questions
What If CEO of Binance,Bitrex,Gdax face Unexpected Death.

I think because of this news, they might be ready since it is an awareness to all. Many will left dismayed if that happen again.

Hannu

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RIP: S5, A faithful device long time

Quote from: trysetya11 on April 16, 2019, 11:50:52 AM

Quote from: flash101k on April 16, 2019, 10:30:50 AM

When you get rich and own a lot of money, many people want to kill you to rape it from you.

agree, and that is why the world still arrounding.
eat or be eaten?

Yea I know. Something gonna be terribly wrong, written about a guy who asked about ledger nano.

trysetya11

member

Activity: 447

Merit: 12

Quote from: flash101k on April 16, 2019, 10:30:50 AM

When you get rich and own a lot of money, many people want to kill you to rape it from you.

agree, and that is why the world still arrounding.
eat or be eaten?

erikalui

legendary

Activity: 2632

Merit: 1094

May his soul RIP.

However, I don't believe that he never had a team and was working all alone handling funds worth billions. It's just a way to cheat the users of that exchange.

zhekinsp

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Merit: 126

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Quote from: Veerashanka on February 01, 2019, 11:25:43 PM

Gerry Cotten the CEO of QuadrigaCX is Dead, he was in India for a business Trip and Died from Crohn's Disease last December. Due to Unexpected death the Crypto Exchange can No Longer Access Funds which is Speculated to be 145 to 190 Million.

His Widow Jennifer has However tried to hack his Laptop, so that funds can restored and Exchange goes on Smoothly.

On the Other Hand Users of Exchange are speculating the Death of CEO and Are demanding Proof for Death on Reddit.

This Kind Of Incidents Disturb Cryptocurrency World and raised Questions
What If CEO of Binance,Bitrex,Gdax face Unexpected Death.

This is why crypto users to be advised as save their cryptos in wallet not in exchanges.

But I have another question as well why the exchange becomes unaccessible when owner died? There is no support team for that exchange?

flash101k

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When you get rich and own a lot of money, many people want to kill you to rape it from you.

LUCKMCFLY

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Quote from: Veerashanka on February 01, 2019, 11:25:43 PM

Gerry Cotten the CEO of QuadrigaCX is Dead, he was in India for a business Trip and Died from Crohn's Disease last December. Due to Unexpected death the Crypto Exchange can No Longer Access Funds which is Speculated to be 145 to 190 Million.

His Widow Jennifer has However tried to hack his Laptop, so that funds can restored and Exchange goes on Smoothly.

On the Other Hand Users of Exchange are speculating the Death of CEO and Are demanding Proof for Death on Reddit.

This Kind Of Incidents Disturb Cryptocurrency World and raised Questions
What If CEO of Binance,Bitrex,Gdax face Unexpected Death.

I think that in the face of these events, the owners of the Exchanges should already have their action plans for possible events like these, which are so unexpected, since they will not allow all those funds to be trapped, although whenever there are Bitcoins that remain thus, the value of it is increased much more by being limited to those that are only in motion.

The Exchanges of First Level as Binance, Bitrex, among others, must have established their prepared funds before all these facts, they can not leave everything in the air or loose ends.

It is debatable that he has not left the public and private keys to the owner of the Exchange to his wife, maybe he never trusted her for not having shared such information.

Ciscopro2000

member

Activity: 494

Merit: 10

How can you ensure your loved ones can access your hardware wallet? Do you have to give them your password or private keys before you die?

BTC4theFUTURE

newbie

Activity: 14

Merit: 26

That's why we need to educated everyone about how to keep thier crypto safe. Not your keys, not your crypto.

Idrisu

sr. member

Activity: 924

Merit: 260

I think news like this and event are the reason why people are losing hope daily on cryptocurrencies. How can that type of huge amounts of money goes with the man death? I hope his wife find away of hacking into his laptop in other for people funds be restored.

sweltering

newbie

Activity: 5

Merit: 0

I highly suspect that this is just an exit scam. The "CEO" does not have any web presence, like just one or two articles mentions and nothing more. Being the CEO of this exchange I bet he would be more invloved with the blockchain space. Will be following this story carefully.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: gawer33 on February 02, 2019, 04:32:54 AM

the unused/non-accessible tokens or coins will be considered burned thus less supply and more demand for the market.

Did you understand what the OP is trying to say? It's not about tokens here, we are talking about exchanges owner suddenly die without giving the keys to where the funds is being stored. This is a huge malpractice is on his end. Hacking a laptop will be easy, however, if the privatekeys is not there then there's nothing we can do.

Jating

hero member

Activity: 2842

Merit: 772

Very interesting, is the CEO only the person who has access to the funds in either cold or hot wallet? Why not they implement as multi-sig so that in cases like this the funds are still accessible to those others who can sign with the keys?

I'm sure exchanges like Binance has a contingency plans in place already, they wouldn't be the top exchanges if this simply business continuity plan is not on their list.

And It must be very disappointed and frustrated if you are amongst the traders and you have a lot of funds in that exchange. It's another proof that we don't need to put all or large amount of money in an exchange.

gawer33

jr. member

Activity: 309

Merit: 5

the unused/non-accessible tokens or coins will be considered burned thus less supply and more demand for the market.

Veerashanka

newbie

Activity: 40

Merit: 0

Gerry Cotten the CEO of QuadrigaCX is Dead, he was in India for a business Trip and Died from Crohn's Disease last December. Due to Unexpected death the Crypto Exchange can No Longer Access Funds which is Speculated to be 145 to 190 Million.

His Widow Jennifer has However tried to hack his Laptop, so that funds can restored and Exchange goes on Smoothly.

On the Other Hand Users of Exchange are speculating the Death of CEO and Are demanding Proof for Death on Reddit.

This Kind Of Incidents Disturb Cryptocurrency World and raised Questions
What If CEO of Binance,Bitrex,Gdax face Unexpected Death.

Topic: $145 Million Lost After Death Of Crypto Exchange Owner. (Read 210 times)