Quadriga CX Co-Founder Dies Along With $130 Million of Customers’ Funds

Quadriga CX’s co-founder suddenly died in December and along with him so did over $130 million in cryptocurrency belonging to the exchange’s customers. According to the exchange’s Facebook page, Gerald Cotten, co-founder and CEO of QuadrigaCX died due to complications from Crohn’s disease while helping set up an orphanage in India. Unfortunately Cotten was the only one with the password to access over a hundred and thirty million of dollars worth of cryptocurrency which belonged to the platform’s customers. The recent event caused the exchange to halt all operations and apply for creditor protection with the Companies’ Creditors Arrangement Act (CCAA).