Canadian cryptocurrency platform founder was the only one that has the password to the account that held over 180 million Canadian dollars, with over 300,000 registers users on the platform. That’s about $ 137.21 million in American dollars.
Gerald Cotten was the founder of Quadriga CX. Quadriga is a platform that allows its users to store Crypto coins or trade it. Cotten died at age 30 due to complication from Crohn’s disease while volunteering at an orphanage in India.
“Quadriga has 363,000 registered users and owes a total of 250 million Canadian dollars to 115,000 affected users, according to an affidavit filed by Cotten’s widow Jennifer Robertson on behalf of the company “ – CNBC
He died without any prearrangement to release the password to his successor; as result all the money that’s held on the platform may be inaccessible.
The investigators searched his cellphone and his laptop for his password but they could not find it.
His desktop is untouched, and investigators do not believe that password to the Quardriga platform would be on any technology device due to security reasons. If Cotten wrote down the password, it’s probably on a piece of paper and it’s kept somewhere secured.
No one around him knows where he kept the password; the closest person to him in terms of business has no idea on how to gain access to the platform. All the money is probably gone forever.