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Cryptocurrency exchanges have been in existence for less than 10 years. Just as they have generated wealth for their founders, investors and participants they have also been mired with fraud, hacks and theft causing losses of billions of dollars. The most prominent example is the $400 million worth of bitcoin stolen from the now bankrupt exchange Mt.Gox.
The most recent example of a crypto exchange collapsing is Canada-based QuadrigaCX which has curiously lost access to $150 million of crypto belonging to its customers. QuadrigaCX CEO Gerald Cotten, passed away in India on December 8, 2018. With $ 150 Million of fortune lost with Cotten’s unfortunate yet mysterious passing, QuadrigaCX is doomed for years, cursed by its customers and investigated by Ernst & Young, at present.
Cotten’s Death a Hoax? It is logical to assume that Cotten’s death was an exit scam. 150 missing millions, and the only authorized hand to sanction finances, fled to India, faked his death and resolved to live ...
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