Imagine if your bank froze your savings account because the only person with the combination to the vault had died.
Investors in a Canadian crypto-currency exchange are in a similar fix after the
only person with the password to accounts valued at $190 million in U.S. dollars died unexpectedly in India in December, CoinDesk reported.
Gerald Cotten, CEO and co-founder of QuadrigaCX, died of complications from Crohn’s disease Dec. 9 while
traveling in India to set up an orphanage, the firm wrote Jan. 14 on Facebook.
In a filing Thursday for
creditor protection with the Supreme Court of Nova Scotia, Jennifer Robertson, Cotten’s widow, said his death left the company unable to access the bulk of its crypto-currency funds, CBC News reported.