- Gerald Cotten, founder of QuadrigaCX suspiciously died last year due to Crohn’s disease.
- Cotten was the sole person having access to the passwords to QuadrigaCX digital wallets.
- Users of Exchange are asking for Exhumation of the founder’s body.
Gerald Cotten, the 30-year old founder of QuadrigaCX, had an untimely death last year in India from complications related to Crohn’s disease. He was the only person who had access to the passwords to QuadrigaCX digital wallets.
Following his death, the exchange was in a troublesome condition since they could not locate or secure significant cryptocurrency reserves.
Lawyers representing users of insolvent cryptocurrency exchange QuadrigaCX are urging Canadian investigation authorities to exhume the body of the founder of QuardigaCX.
The originator had access to all digital wallets connected to his exchange which contains C$180M in cryptocurrencies. His sudden death has been a suspicious case, and online rumours have circulated since, speculating that Cotten faked his death and proceeded to flee with the funds, though no evidence of such a scheme has revealed in the year since he died.
The death of the founder made the cessation of QuadrigaCX, which had some 115,000 users at the time.
Last week, the investigation team representing users of the QuadrigoCX exchange in the bankruptcy proceedings requested the Royal Canadian Mounted Police that an exhumation and post-mortem autopsy be conducted on Cotten’s body “to fortify both its identification and the reason of death”. This report could further investigate the need for certainty around the subject of whether Mr Cotten is dead.
Adding to the paparazzi, a report by auditor Ernst &Young; found the improper working of the exchange, including finding that Cotten created individual accounts on the Quadriga platform under aliases that may have used to trade on the exchange since he has passwords to digital wallets. It was also found upon more in-depth investigation proceedings that substantial funds were transferred to Cotton b himself and other related parties. The auditor could retrieve around C$33M in missing funds.
It confirmed in August that at least four independent active law enforcement or regulatory reviews were in progress concerning the demise of the exchange which includes the US Federal Bureau of Investigation.
In a statement sent through her lawyer last week, Cotten’s widow said it deeply shaken to learn of this request to exhume his body.
Jennifer Robertson said her deceased husband’s death “should not be in doubt”, adding it is unclear how its consecration “would help the asset recovery process further”.