At the beginning of February, it was reported that the CEO of cryptocurrency exchange QuadrigaCX, Gerald Cotten, been killed in India in December. The word was widely reported under for one particular rationalization, he was the only person to have the passphrase to the virtual money possess of 115, 000 customers, equating to an expected total of $137 million in cryptocurrency.
Right after the report was declared, many began to is suggested that he might have faked his own fatality. And the most recent data is very likely to add to this idea. Cotten’s death led to the closure of QuadrigaCX, which auditor E& Y was put in charge of. The reviewers managed to access Cotten’s laptop, but the digital pouches that should have deemed the cryptocurrency were empty.
In a report submitted to the State supreme court of Nova Scotia, the team from E& Y said they had no idea what happened to the bitcoin. They also found evidence that Cotten had 14 other user notes, created in irregular behaviors, to swap on the company’s exchange. At this time it is unknown whether any of the money overtaken through them.
Cotten died on December 9 in Jaipur, India, where he was opening an orphanage, due to complications from Crohn’s disease. At least that is something that QuadrigaCX said in a statement on Facebook on January 14. The circumstance is unpleasant and life-changing but it is rarely fatal.
Fortis Bodyguards, a private hospital in Jaipur, has secreted the detailed rules for Cotten’s demise be said that he suffered from septic jolt and other serious issues relating to his problem. He suffered two coronary thrombosis, the second largest of which was fatal.
People which has now been hunting for more details on the storey remain unconvinced by the current information, with Redditors questioning the funeral home for more details about Cotten’s death. On pinnacle of all that, it transpired that Cotten entered a will exactly 12 dates before he died. And there seems to be no record of where the company stored its assets.
“The death came at a very odd time in its own history of that company, ” Emin Gun Sirer, a professor at Cornell University and co-director of the Initiative for CryptoCurrencies and Contracts, told The New York Times.
Many are calling for cryptocurrency exchanges to be regulated, but bearing in mind the fact that the interest in crypto-cash is due to its unregulated nature, it’s unlikely this will happen.
[ H/ T: BBC News]