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QuadrigaCX mystery deepens after cryptocurrency cold wallets found empty


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The New York Times
SOURCE: https://thenextweb.com/hardfork/2019/03/04/quadrigacx-mystery-deepens-after-cryptocurrency-cold-wallets-found-empty/
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Summary

At the time, the exchange noted it had lost access to the funds as a result of its founder Gerald Cotten’s sudden passing, claiming the majority of the holdings were kept offline, in cold storage, and only Cotten knew the private keys to the accounts.QuadrigaCX was one of Canada’s biggest cryptocurrency exchanges.It made headlines all over the globe after the reported sudden death of its founder resulted in the loss of $134 million of users’ funds.Cotten’s death followed on from months of complaints about banking issues, with some of the platform’s customers describing problems with fiat and crypto withdrawals.Bearing in mind other cryptocurrency scandals such as Mt. Gox, Cotten’s passing exacerbated concerns about the exchange‘s solvency or potential wrongdoing.The latest details provided by EY prove significant because neither the auditor nor the exchange had released information about the Bitcoin cold wallet addresses up until now, fanning speculation about their existence.

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