Details Emerging On Death Of Crypto CEO Gerald Cotten

Adjust Comment Print

Vancouver-based Quadriga CX has been unable to access C$190 million ($145 million) in Bitcoin and other cryptocurrencies belonging to its customers since its chief executive officer Gerald Cotten - who had the electronic keys to access the cache - died in India in December. Reportedly, QuadrigaCX could not access or locate the cold wallets and/or the wallets had minimum cryptocurrency units. The exchange has about 363,000 users, with 92,000 accounts holding cash or cryptocurrency balances, including one with assets totaling $50 million.

The freaky Quadriga CX case, in which $145 million in cryptocurrency assets is allegedly locked up and inaccessible to its estimated 115,000 owners, took on more intrigue on Thursday.

In an application to probate the will, filed on December 21, 2018, Ms Robertson confirmed that the gross value of Mr Cotten's personal property - all of which was left to her - was 9.6 million dollars. Yesterday Bloomberg reported that Cotten filed a will 12 days before his death. She was granted the right to administer his estate as executor on January 2. Boxmining referenced an article from Crypto.IQ on the topic of Cotten's death details.

A death certificate issued by the Government of Rajasthan's Directorate of Economics and Statistics was recently published by CoinDesk.

More news: Ariana Grande wins first Grammy ever - but is a no show

There was also a plan in place to provide $100,000 to Cotten's in-laws to help them cover the costs of caring for the couple's pet Chihuahuas, Nitro and Gully.

A motion for the appointment of representative counsel for the affected users of QuadrigaCX will be heard in the Supreme Court of Nova Scotia at 9:30 on Thursday, February 14.

Cotten's death has caused global news after it was revealed the QuadrigaCX exchange owes millions to its customers.

She added that she has been the subject of multiple threats.

More news: Lady Gaga and Ariana Grande win early Grammy awards

Cotten was brought to the hospital in a "critical condition" with "pre-existing Crohn's disease and was on monoclonal antibody therapy every 8th week", the statement from Fortis Escorts reads.

She said Mr Cotten died from complications linked to the disease, which disrupts digestion by causing inflammation of the bowels.

The British Columbia Securities Commission said Thursday that it had no knowledge of the exchange's activities and "does not now have any indication that Quadriga CX, the crypto asset trading platform, was trading in securities or derivatives or operated as a marketplace or exchange under British Columbia securities laws".

The Canadian regulator said it has been aware of the company's operations since 2017 but has not had any indication that it was trading in securities or derivatives or if it operated as an exchange, which would put it under its purview.

More news: Brexit: Theresa May Begging MPs for More Time to Amend Her 'Deal'

Cotten's widow, Jennifer Robertson, said in the affidavit posted online that the laptop that Cotten used to run the currency exchange is encrypted.