Owner of crypto-exchange faked death, stole $190 million from clients' bank-accounts.

[DetlefK]

I posted on that a while ago.



Gerald Cotten, the owner of Quadriga, a crypto-exchange platform (which are basically unregulated online-banks for cryptocurrency), died in India and now customers can't access their bank-accounts at Quadriga because he was the only one who had the codes to authorize transactions.

Or so we thought.

White-hat hackers have cracked some parts of the system and it looks like all bank-accounts were emptied 8 months before his "death". The money was transfered to 14 bank-accounts at Quadriga that SOMEONE created outside of the usual bookkeeping process. And those 14 accounts transfered the money elsewhere.

https://www.thedailybeast.com/auditors-say-crypto-wallets-drained-8-months-before-chief-died-with-passwords?ref=home

[Kurt V.]

1. under the category of: truth is stranger than fiction.

[FM123]

2. Wow, that is some story. Keep us updated...

[Dave Starsky]

3. I knew it!

I remember hearing about this guy, and I instantly thought the same thing.

I hope they find this clown.

[marble falls]

4. In no article, including this one, is there any statement he faked his death.

[zipplewrath]

6. Actually it is suggested

If you click on the article referenced in the link you'll get down to this.

The local Halifax funeral home J.A. Snow provided a statement of death on Dec. 12 that allowed Cotten’s company to file for creditor protection, but his remains were not returned to Canada. Reporters from The Chronicle Herald petitioned all of the local funeral directors and none of them had dealt with Cotten’s remains.

Several conspiracy threads have started popping up on online entities including Reddit that have suggested that perhaps Cotten is lying on a beach waiting for his wife to join him, or that suggest that even his wife has no idea what the real truth is.

https://www.thedailybeast.com/questions-surround-quardigacx-cryptocurrency-story-of-boss-who-died-with-codes-to-the-vault

And if you go to the referenced Skynews article you'll see this:

Some are questioning whether Mr Cotten is even dead and others have accused the company of lying to them.

[marble falls]

7. Its been suggested the moon is made of green cheese.

[zipplewrath]

8. Well, okay

I'm just saying it was in fact discussed despite your assertion to the contrary. I suspect your assertion now is that there is no formal legal accusation right now of this, merely interested parties expressing their frustrated opinions.

[jberryhill]

9. Given that the wallets were emptied 8 months before his alleged death

One might suppose he was aware of that.

[Rainbow Droid]

16. There you go again making sense with simple observations! Why you gotta make fools look foolish?

YOU A HATER!

[jberryhill]

19. Only that all the money went missing months before he died, and nobody has his remains

But, yeah, other than a missing pile of money and a missing body, there's nothing unusual here.

[justhanginon]

5. Yeah, it's a mystery how this could have happened.

Quadriga, a crypto exchange platform (which are basically unregulated online-banks for cryptocurrency).
We don't need no damn regulations. Riiiiight!

[MH1]

14. Almost missed

your sarcasm tag there.

Yeah, no one could have expected this at all ...

[Blue_Tires]

10. What's so great about cryptocurrency again?

I mean, for folks who aren't buying human organs or Predator Drones through the black market??

[Grokenstein]

12. It's like, cool, and new, and stuff!!

You just don't get it!

[ancianita]

15. Other than to serve some non-Western economy activity, not much. From David Wallace-Wells' book,

"The Unhabitable Earth&quot 2019):

"Bitcoin...mining...consumes more electricity than is generated by all the world's solar panels combined

... which means that in just a few years, we've assembled, out of distrust of one another and the nations behind 'fiat currencies,' a program to wipe out the gains of several long, hard generations of green energy innovation..."

My daughter bought Bitcoin years ago, still ignoring its negligible effect on world economies.

[ProfessorPlum]

11. gee, you mean cryptocurrencies are ripe for scammers?

whodathunkit

[Grokenstein]

13. There will always be people who have to learn the hard way. The hardest way.

...trumpkins, for example.

[RandiFan1290]

20. Criminals still prefer cash. nt

[lindysalsagal]

17. Another sucker born every minute.

Only the technology of the hustle changes.

[gratuitous]

18. Hmmm

Cotten's wife and his company have both said that Cotten died December 9 in Jaipur India from complications due to Crohn's Disease. I'm stuck with Bane's assertion from The Dark Knight Rises: If he's dead, show me the body.

[Eugene]

21. Update: lawyers seek exhumation to check it's really him

Source: CNN

Cryptocurrency tycoon died leaving $145m in limbo. Now lawyers seek exhumation to check it's really him

By Amy Woodyatt, CNN
Updated 1921 GMT (0321 HKT) December 14, 2019

(CNN) — Lawyers representing users of the collapsed Quadriga CX cryptocurrency exchange platform are requesting that Canadian authorities exhume and examine the body of its late founder, Gerald Cotten, to check if the person buried there is really him.

-snip-

Read more: https://edition.cnn.com/2019/12/14/business/lawyers-exhumation-gerald-cotten-intl-scli/index.html