[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

Caroline Kennedy’s son, Jack Schlossberg, mulling a run. Florida Surgeon General Nukes ALL School Vaxx Mandates, Likens Them to Slavery Doc on High Protein Diet. Try for more plant based protein. ICE EMPTIES Amazon Warehouse… Prime Orders HALTED as ‘Migrant Workforce’ REMOVED Trump to ask SCOTUS to reverse E. Jean Carroll sex-abuse verdict Wary Of Gasoline Shortage, California Pauses Price-Gouging Penalty On Oil Companies Jewish activist Barbara Lerner Spectre calls for the destruction of European The Democrats Are Literally Making Stuff Up! Turn Dead Dirt Into Living Soil With IMO 4 Michael Knowles: Trump & Israel, Candace Owens, and Why Christianity Is Booming Despite the Attacks Save Canada's Ostrich Farms! Protests Erupt Over Government Tyranny in Canada Holy SH*T! Poland just admitted the TRUTH about Zelensky and it's not good Very Alarming Earthquakes Strike As We Enter The Month Of September Billionaire Airbnb Co-Founder Reveals Why He Abandoned Democrat Party For Trump Monsoon floods devastate Punjab’s crops, (1.7 billion people) at risk of food crisis List Of 18 Things That Are Going To Happen Within The Next 40 Days Pentagon Taps 600 Military Lawyers To Serve As Temporary Immigration Judges For DOJ 81 Actors Who Have Passed Away So Far in 2025 High school is different now Banks REMOVING CASH and nearing major DISASTER. Prof St Onge. Did America Pick the Wrong Side in WWII? Chicago in CHAOS – Mayor Tells Police to Stand Down as Trump Says ENOUGH Murder Graham Linehan ARRESTED in UK for gender critical tweets - UK COLLAPSE IS IMMINENT Cash Jordan: 400,000 Illegals ‘Forcibly Returned’ To Mexico… as NYC COLLAPSES The ChatGPT CEO's Web Of Lies by Vanessa Wingardh The Fall of the Israel Lobby Has Begun — And This Is Just the Start | Denzel Washington speech 'Statistically Almost Impossible' – 4 AfD Candidates Have Died 'Suddenly And Unexpectedly' Before Key State Election Israel And The West Set The Stage For Next Round Of Warfare On Iran Last night in Milan, an 18-year-old girl was beaten and raped while trying to catch a train home Russia has developed a truly modern system of warfare.

World News
See other World News Articles

Title: 190 million gone forever? Crypto boss dies with passwords needed to unlock customer accounts
Source: [None]
URL Source: https://www.investmentwatchblog.com ... d-to-unlock-customer-accounts/
Published: Feb 6, 2019
Author: staff
Post Date: 2019-02-06 14:50:02 by Horse
Keywords: None
Views: 140
Comments: 1

Gerald Cotten, the 30-year-old founder of QuadrigaCX, died due to complications with Crohn’s disease, according to Sky News, citing Cotten’s wife, Jennifer Robertson. The executive reportedly passed away in December while traveling in India to open an orphanage.

About $190 million in cryptocurrency and traditional money is said to be in “cold storage,” with the digital key held by Cotten. While Robertson has Cotten’s laptop, she does not know its password and even a security expert has been unable to get past the device’s encryption.

www.foxnews.com/tech/cryptocurrency-exchange-chief-dies-with-passwords-needed-to-unlock-customers-190m-reports-say

Post Comment   Private Reply   Ignore Thread  

#1. To: Horse (#0)

I read that. It is absolutely unforgivable and grossly negligent for the leaders of this company to ever put $190 million within one heartbeat of oblivion.

And then let the only guy with the passwords to fly to India?

**NO** excuses whatsoever. This is not the fault of crypto. Crypto currency has the ability to lock funds up with multiple keys, such that some of the keys -- i.e. 3 out of 5 possible keys -- are required to unlock the funds and send them elsewhere. Had this company done this, it would have provide committee oversite over security while also allowing for any 2 keys to be lost forever while still being able to access all the funds.

And I would never put $190 million worth of crypto in a single wallet anyway. You need to diversify it into several hundred wallets to protect against hacking.

$190 million? What absolute buffoons were they? Gross, gross, gross negligence. Or, possibly, a grand fraud. Maybe the guy isn't really dead?

I hate this stuff as it really damages public perception of crypto which offers great benefits to the economy.

People need to minimize their trust with exchanges. Put money in, exchange it, and pull it out. There are reasons why trusting banks with fiat currency is required, but those reasons do not apply to crypto.

Pinguinite  posted on  2019-02-06   15:10:31 ET  Reply   Trace   Private Reply  

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]