By CCN Markets: Gerald Cotten, the CEO of the Canadian crypto exchange QuadrigaCX whose death is the reason for $190 million of missing funds and a bankrupt company, had transferred user funds to his personal accounts to use them as security for margin trading, a report by Ernst & Young revealed. After Cotten had died, QuadrigaCX went offline as the company's CEO had exclusive access to the...
By CCN.com: The late CEO of QuadrigaCX crypto exchange Gerald Cotten feared for his life due to the vast amounts of funds he exclusively controlled, a former colleague and friend has said.
Per cryptocurrency entrepreneur Adam O’Brien, Cotten worried that he could be kidnapped over the crypto assets worth millions of dollars that he exclusively had access to, according to Global News:
By CCN.com: QuadrigaCX had a long and successful run as Canada’s top Bitcoin exchange. Former counsel to the exchange, Christine Duhaime, says in a blog post at Coindesk that the company was among the only exchanges to publicly publish audits or obtain cold storage insurance. Both choices were laudable and rare among exchanges in 2015, when she was fired after six months of providing advice on...
The mystery surrounding the disappearance of $190 million in crypto from Canadian exchange Quadriga deepened as it was revealed the surviving founder is a reported ex-con who served 18 months in a federal U.S. prison for identity theft, bank fraud and credit card fraud. Michael Patryn, who founded Quadriga with Gerald Cotten, has been revealed as Omar Dhanani. After denying this and disputing...
Gerald Cotten reportedly used his own money to fund customer withdrawals. At the time, the Canadian Imperial Bank of Commerce had frozen their bank accounts, questioning their provenance. His widow, Jennifer Robertson, told Coindesk that while she didn’t have a lot of knowledge as regards his operating the exchange, he had told her that much. Cotten Used Personal Wealth to Fund Customer...
Amidst all the suspicion that has followed the sudden closure of QuadrigaCX crypto exchange and cold wallets containing $150 million being inaccessible following the death of the company’s chief executive, Gerald Cotten, a hospital in India has confirmed that the CEO died while in its care. According to Fortis Escorts Hospital, Cotten succumbed to a heart attack on December 9 last year. The...
When QuadrigaCX announced last month that CEO Gerald Cotten had suddenly died and roughly $150 million in cryptocurrency ($180 million Canadian) was inaccessible as a result, the crypto world went nuts. According to a CBC report today, the notorious Bitcoin exchange may be sold to compensate victims. Additionally, Cotten’s encrypted laptop will be handed over to lawyers for the exchange’s...