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The founder of the leading cryptocurrency exchange company in Canada died with the pbadword of $ 190 million of customers' money.
Gerald Cotton – the boss of QuadrigaCX – was the only member of the company to have the pbadword, but he died last December.
According to a report by Sky News, the cryptography company can not repay 190 million dollars to its customers because its founder died with their pbadwords.
Mr. Cotton is reported to have died "of a complication of Crohn's disease" while traveling to India to open an orphanage.
QuadrigaCX dead chief, Gerald Cotton
The 30-year-old agent was solely responsible for managing the funds and coins of the cryptocurrency exchange company prior to his death.
His wife, Jennifer Robertson, has since filed for credit protection in the courts as a result of aggrieved clients.
According to her, client investments worth $ 190 million, both in cryptocurrency and in normal currency, are in the "cold storage".
She explained that only her late husband had the keys to unlock the funds of the clients.
Ms. Robertson also told the court that she had her husband's cell phone, but she did not know the pbadword.
She said that all attempts to bypbad her encryption, including the hiring of a technical expert, have proved futile.
In the meantime, some QuadrigaCX customers have already started fussing for fear of being unable to withdraw their money.
The board of directors of the company, however, should appoint Ernst & Young to oversee the work.
In a statement, the council said: "Over the past few weeks, we have worked hard to solve our liquidity problems, which include trying to locate and secure our very large stocks of cryptocurrency held in cold wallets, and necessary to satisfy the deposit balances. financial institution to accept bank drafts that must be transferred to us.
"Unfortunately, these efforts have not succeeded" the declaration added.
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