Crypto boss dies suddenly taking clients passwords with him

#1
As Alanis would say isn't that ironic, what's the betting they'll be found alive and well

It's certainly a convenient time to die when your company looks likely to be going under

But then again regulators are looking for an excuse to have more influence over crypto currencies, so let the conspiracy theories begin...

What's the arrse verdict on this one?

Canada's leading cryptocurrency exchange company has said it cannot repay $190m (£110m) to clients because its founder died with their passwords.

QuadrigaCX's founder Gerald Cotten, 30, died "due to complications with Crohn's disease" while travelling in India to open an orphanage in December, his wife Jennifer Robertson said.

Mr Cotten held "sole responsibility for handling the funds and coins" and no other members of the team could access the stored funds, she said in a sworn affidavit as she filed for credit protection on 31 January.

Ms Robertson said about $190m (£110m) in both cryptocurrency and normal money is in "cold storage" - where the company, or just Mr Cotten in this case, holds the key, not the client.

The founder held "sole responsibility for handling the funds and coins" and no other members of the team could access the stored funds, she added.
 
#2
I guess now is when his clients find out if they got their money's worth.
 
#3
Really dead or "died in India and hopped on a plane to avoid the creditors dead"?
 
#5
Fekkin' amateur. He hasn't thought this through, has he?

Let me guess, his wife decided to have him cremated in India so there's no body, just a pile of ash in an urn.

For a start, he's going to have to stay "dead" for the rest of his life. It might be easy to buy a fake death certificate in India but I can't imagine it's that easy to assume a completely new identity. Wait till he tries to get a flight back to America.

I don't believe that cryptocurrencies are protected by passwords. IIRC they are protected by RSA key pairs - small data files. Presumably the wife is referring to the password on her husband's, err sorry I mean "late" husband's, PC. If some of the fraud victims, err sorry I mean customers, are American, I would imagine the FBI will be involved and will seize the laptop.

Unless our man has hidden talents that contradict his performance to date, the password on his PC will be cracked. He'll then be left penniless and still "dead". Perhaps his missus will get a starring role in the remake of "Ghost".

Having said that, anybody who gives significant amounts of money to an unregulated, cryptocurrency bank on the basis of "don't worry mate, everything will be fine." deserves everything that happens to them.
 
#7
As Alanis would say isn't that ironic, what's the betting they'll be found alive and well

It's certainly a convenient time to die when your company looks likely to be going under

But then again regulators are looking for an excuse to have more influence over crypto currencies, so let the conspiracy theories begin...

What's the arrse verdict on this one?
A word springs to mind and it rhymes with Rugger.
 
#8
Fekkin' amateur. He hasn't thought this through, has he?

Let me guess, his wife decided to have him cremated in India so there's no body, just a pile of ash in an urn.

For a start, he's going to have to stay "dead" for the rest of his life. It might be easy to buy a fake death certificate in India but I can't imagine it's that easy to assume a completely new identity. Wait till he tries to get a flight back to America.

I don't believe that cryptocurrencies are protected by passwords. IIRC they are protected by RSA key pairs - small data files. Presumably the wife is referring to the password on her husband's, err sorry I mean "late" husband's, PC. If some of the fraud victims, err sorry I mean customers, are American, I would imagine the FBI will be involved and will seize the laptop.

Unless our man has hidden talents that contradict his performance to date, the password on his PC will be cracked. He'll then be left penniless and still "dead". Perhaps his missus will get a starring role in the remake of "Ghost".

Having said that, anybody who gives significant amounts of money to an unregulated, cryptocurrency bank on the basis of "don't worry mate, everything will be fine." deserves everything that happens to them.
Actually... in India you'd be surprised how much you can get away with when you have that much money...

Like anywhere else in the world...

Shave his head? New identity? plastic surgery?

I'm sure he could change his own skin colour
 
#10
The point of Block-chain addresses is, if he is alive the addresses which are in the public view will see the funds leaving... and he will get caught
 
#14
For a start, he's going to have to stay "dead" for the rest of his life. It might be easy to buy a fake death certificate in India but I can't imagine it's that easy to assume a completely new identity. Wait till he tries to get a flight back to America.
190 million buys you a lot of easy.
 
#18
Actually... in India you'd be surprised how much you can get away with when you have that much money...

Like anywhere else in the world...

Shave his head? New identity? plastic surgery?

I'm sure he could change his own skin colour
He's probably living in a converted hill station, stroking a fluffy white cat and murmering " Peachy..., just peachy".
 
#19
#20

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