$145M Locked Away After Crypto Exchange Boss Mysteriously Dies

QuadrigaCX granted creditor protection while it searches for $250M in cryptocurrency More

With the news that BCSC will not intervene in the matter, the platform's users will have to keep on waiting for a chance to commence legal action, as a judge on Tuesday provided a temporary reprieve for the company with a 30 day stay on claims from creditors and potential lawsuits.

Canadian broadcaster CBC has also reported that the court appointed a lawyer to take custody of the encrypted laptop said to have been used by the exchange's founder and CEO Gerald Cotten. News recently broke that Cotten filed a will 12 days before his death, where he mentioned his wife, Jennifer Robertson, as the only beneficiary and the executor to his estate.

The laptop computer from which Gerry carried out the Companies' business is encrypted and I do not know the password or recovery key. He was 30. The couple, who lived in the Halifax suburb of Fall River in Nova Scotia, didn't have any children.

QuadrigaCX, a cryptocurrency exchange in Vancouver, was originally established in 2013.

Ms Robertson, in an affidavit filed January 31, said she was not involved in the business, and she insisted Mr Cotten - as QuadrigaCX's CEO and sole director - was the only person with access to the private digital keys.

In her affidavit, Robertson says she has been subjected to online threats, slanderous comments and speculation about Cotten's death, "including whether he is really dead". At the time of admission, Cotten was diagnosed to be suffering from septic shock and other serious issues relating to his exacerbated condition.

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

According to Fortis Escorts Hospital, Cotten succumbed to a heart attack on December 9 past year.

This pattern does not look set to change, as the Canadian Securities Administrators (CSA) also issued another curtly worded statement on the matter, warning Canadian consumers against using crypto exchange platforms which it is keen to point out are all now unrecognised by the CSA or any other Canadian securities regulator. Additionally, he was also feeling feverish.

To date, no Canadian cryptocurrency exchange has been recognized as a marketplace by Canadian regulators.

The B.C. Securities Commission issued a statement Thursday saying it has been aware of QuadrigaCX's operations since 2017.

It encourages Canadians to be more cautious when it comes to investing in crypto assets in trading platforms.

The Nova Scotia Supreme Court has granted QuadrigaCX, one of Canada's largest crypto exchanges, an order for creditor protection even as the exchange tries to find the $190 million needed to pay its 115,000 users.



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