Some users of QuadrigaCX have come to believe that Gerald Cotten faked his death and disappeared with their money.
. Though the 30-year-old died in December 2018, according to his widow, it took more than a month for the cryptocurrency exchange to publicly reveal that he had passed away. When the company finally came clean and users scrambled to withdraw their money, QuadrigaCX’s website went dark.
The company used a “cold wallet” system where cryptocurrency like bitcoin and ethereum was stored offline to protect it from hackers, and Cotten was the only person with the ability to transfer users’ money back into a “hot wallet” where they could access it.
Investors started to question “the authenticity of the formal documents in a country notorious for the ease at which falsified documents can be purchased, particularly after they learned that the death certificate misspelled Cotten’s name, and that the former chairman and managing director of the company that ran the hospital had been convicted of financial fraud two months earlier,”Just four days before the trip, the magazine noted, Cotten had written a will.
No evidence has emerged to prove that Cotten’s death was faked. In February, his widow, who provided Canadian authorities with a copy of his death certificate, called the rumors
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