Cryptocurrency Owners Can't Access Funds After Exchange CEO Dies—Because No One Knows the Password
The founder of Canadian crypto exchange QuadrigaCX took security seriously. Users’ cryptocurrency wallets were kept offline, ensuring hackers couldn’t get at them. And he was the only one who had the password. Then he died. And now, customers who have $190 million in cryptocurrency stores with the company, wonder if they’ll ever see their investment again. Gerald Cotten, who owned QuadrigaCX, died in December. And his widow says she does not know how to access the cold storage facility, where the roughly 26,000 Bitcoin, 11,000 bitcoin cash, 200,000 Litecoin, over 400,000 Ether and other cryptos are not kept on a public computer.