It is learned that the CEO of Cryptocurrency Exchange, QuadrigaCX, Gerald Cotten, died in India in December, in early February. The news was widely circulated for a special reason; he was the only person to receive a passphrase of 115,000 customers holding virtual currencies, the equivalent of a total of $ 137 million in cryptocurrency.
Investigators were able to access Cotten’s laptop, but the digital wallets that should have kept the cryptocurrency were empty. Immediately after the announcement, many began to speculate that he might have faked his own death. And the latest information will probably add to this idea. Cotten’s death resulted in the closure of QuadrigaCX, which was in charge of inspectors E and Y.
The E&Y team said they had no idea what had happened to Bitcoin, in a report submitted to the Supreme Court of Nova Scotia. They also found evidence that cotten had 14 other user accounts, which were created in an irregular way to trade the company’s exchanges. It is unknown at this time what he will do after leaving the post.
Cotten died of Crohn’s disease complications on December 9, in Jaipur, India, where he was opening an orphanage. QuadrigaCX said this in a statement on Facebook at least on January 14. The condition is painful and life-changing but it is rarely fatal.
He suffered two cardiac arrests, the second of which was fatal. Fortis Escorts, a private hospital in Jaipur, has released details of Cotten’s death, saying he was suffering from septic shock and other serious problems related to his condition.
People searching for more details about the story are unaware by the current information by interrogating Redditors at the funeral home to learn more about Cotten’s death. After all, it was conveyed that Cotten filed the will 12 days before his death. And there seems to be no record of where the company has stored its assets.
Emin Gün Sirer, a professor at Cornell University and co-director of the initiative for crypto airports and contracts, told The New York Times, “Death came at a very odd time in the history of that organization.” Many are calling for regulation of cryptocurrency exchanges, but this is unlikely due to the controlled nature of cryptocurrency interest.