Founder of Canadian exchange dies and $ 700 million in criptomoedas are lost by Wagner Riggs

Canada's largest crypto-currency exchange, QuadrigaCX, filed a petition for creditor protection at the Supreme Court of the province of Nova Scotia due to the alleged loss of private keysOn January 31, one week after the platform became inaccessible, the exchange reported that the request was made under the Canadian federal law 'Corporate Creditors Agreement' (CCAA).

The board of directors of the exchange also appointed Ernst & Young to monitor and evaluate the entire process, but this will be decided in court in a hearing scheduled for Tuesday (05).

Deceased was the only one who possessed the keys

The only person who had access to portfolio keys was Gerald Cotten, founder and CEO of QuadrigaCX. He died in India in December last year at the age of 30.

If it is upheld by the court, Cotten took forever with him access to $ 180 million in Bitcoin, Ethereum, Bitcoin Cash, Litcoin and $ 70 million in fiat.

The amount totaled then 250 million Canadian dollars (about R $ 700 million) belonging to 115 thousand users.

The information came to the fore when Coindesk obtained a copy of the testimony of Cotten's widow, Jennifer Robertson, director of the exchange.

She described her husband's death as sudden and that he was in possession of his laptop, but could not access it by being encrypted. She did not have any private keys.