Business

Crypto Exchange Founder Dies in Jaipur, 1000 Crores Stuck Behind Passwords

Crypto Exchange Founder Dies in Jaipur, 1000 Crores Stuck Behind Passwords
Image Credit: NDTV / Bloomberg

Gerald Cotton the founder of Crypto Currency exchange Quadriga CX passed away during a tour in India. He had filed a will just twelve days before his demise; however the will did not contain the security details to access the Bitcoins of $145 million in value and other digital assets.

In the will all his assets have been transferred to his wife Jennifer Robertson. Nova Scotia Supreme Court has granted Quadriga a 30 day stay in an attempt to stop any lawsuits from proceeding against the company during this time.

However this leaves quite a few individuals who are owed about $70 million stranded. This includes a Xitong Zou of Orillia, Ontario, who is the owed about $ 430000.

He has formed an informal committee with other clients who have acquired the services of law firm Bennett Jones LLP and McInnes Cooper to represent them during the creditor protection proceedings.

To Top