While we might understand that such a thing occurs in the cinematic world, here the reality. This is the story just like an of a film script. A 30-year old Gerald Cotten, the Chief Executive Officer of the Cryptocurrency firm called QuadrigaCX reportedly died in India from complexity from Crohn’s disease which called “an intestinal inflammation disorder”. The main thing about this mystery is the CEO carrying with him a password that has locked up $190 million in investor cryptocurrency.
Canadian CEO Gerald Cotten Died with Cryptocurrency of $190 Million.
According to the report, Gerald was travelling to India with his better half Jennifer Roberton and died in Jaipur due to Crohn’s disease where he has started an orphanage to afford a house and protected refuges for children in poverty. This news certainly let a pressure among the investors who are not happy with the fact that Gerald was alone with the password to the account with their money. The crucial thing is that other cryptocurrency firm investors may lose their money but this is the first for everyone where the money is but can’t be accessed.
As per the report, the currency was deposited in “Hot Wallet” which is open by the internet and withdrawal request were possible and “Cold Wallet” such as USB which were directed offline. Reportedly, this was prepared for the security of the currency. In the statement published on the website on January 31, QuadrigaCX questioned the “Nova Scotia Supreme Court” to provide us with the chance to approach the vital financial issue that has affected our understanding to assist the customers.
For the past weeks, we have worked widely to address to address our liquidity problem, which involves trying to find and secure our very vital cryptocurrency assets kept in cold wallets, and that is needed to satisfy customer cryptocurrency balance on deposit as well as sourcing a financial institution to receive the bank draft that is to be assigned to us. The company announced joining “unfortunately, these attempts have not been successful.
While some people are grieving the CEO’s dismiss.