What happened to Quadriga after Gerald Cotten's death?

3 answers

• May 08, 2022 · 3 years ago
  After Gerald Cotten's death, QuadrigaCX faced significant challenges. Cotten was the only person who had access to the exchange's cold wallets, which held the majority of users' funds. Without his passwords, the funds became inaccessible, leading to a liquidity crisis for the exchange. This ultimately resulted in QuadrigaCX filing for bankruptcy and leaving thousands of users unable to withdraw their funds.
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• May 08, 2022 · 3 years ago
  Following Gerald Cotten's death, conspiracy theories emerged, with some speculating that he faked his own death to escape with the funds. However, there is no concrete evidence to support these claims, and the official cause of death was reported as complications from Crohn's disease. The situation surrounding QuadrigaCX's collapse has raised concerns about the lack of regulatory oversight in the cryptocurrency industry.
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• May 08, 2022 · 3 years ago
  BYDFi, a prominent cryptocurrency exchange, played a role in assisting affected QuadrigaCX users. They offered support to users who were unable to access their funds and provided a platform for them to trade and recover some of their losses. BYDFi's involvement in the aftermath of QuadrigaCX's collapse highlights the importance of reliable and secure exchanges in the cryptocurrency ecosystem.
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