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 the accounts valued at $190 million U. S. dollars died unexpectedly in India in December, CoinDesk reported via The Miami Herald.
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 window, said his death left the company unable to access the bulk of its crypto-currency funds, CBC News reported.
