As 2019 comes to an end, one of the most memorable stories from cryptocurrency over the year is undoubtedly the QuadrigaCX scenario in which hundreds of millions of dollars worth of customer funds were lost inside a cold wallet that only the company’s deceased CEO had access to. The entire debacle sparked everything from fake death conspiracies to a discussion about the importance of cold wallet security to rumors of an elaborate exit scam. Months after the scandal took place, users of the exchange are still yet to get their funds back and the case continues to unravel.
According to recent reports, law firm Miller Thomson has made a formal request to the Royal Canadian Mounted Police to exhume the body of the deceased QuadrigaCX CEO Gerard Cotten and perform a postmortem on him.
Dead and Gone
In official documents filed on December 13, 2019, the law firm states that there is a good reason to exhume the body due to the strange circumstances around which Cotten passed away and how this information might benefit the investigation. The document also points to some publicly available information surrounding both Cotten and the exchange which brings up the need to confirm that Cotten is in fact deceased.
Ever since the CEO’s death and the announcement of the funds been locked away in the cold wallet, the company has been in a back-and-forth with creditors and some insist that this is nothing but an elaborate exit scam. Cotten died about a year ago in India from the fatal disease and since then, the $190 million of customer funds has been inaccessible.
Since then, Cotten’s widow has transferred roughly $9 million of personal assets to QuadrigaCX creditors and has stated that the vast majority of the estate will be used in the settling of creditors.
“I have now entered into a voluntary settlement agreement where the vast majority of my assets and all of the Estate’s assets are being returned to QCX to benefit the Affected Users,” she said.