QuadrigaCX cryptocurrency exchange has become a platform that is well known in the entire crypto money industry with its recent experiences. The unexpected death of the CEO of QuadrigaCX cryptocurrency exchange Gerald Cotten and the fact that customers' funds remained in the cold storage wallet led to an investigation that led to learning many different events.
CEO of QuadrigaCX Cryptocurrency Exchange Found Unfair
During the investigation, it was determined that CEO Gerald Cotten was gambling with customers' cryptocurrencies, made different investments and entered into cryptocurrency transactions. While customer funds should normally be kept in the cold storage wallet, the CEO's initiative became one of the first priorities of the court.
Canada's financial regulator OSC also ruled that Gerald Cotten was guilty of taking such action with funds. It was concluded that Gerald and his wife bought properties in Nova Scotia, British Columbia and many other places, and obtained most of them by gambling with customer funds.
In addition, it turned out that $ 115 million of the money that Cotten, CEO of QuadrigaCX cryptocurrency exchange received for personal needs payments, was also a lie. Cotten's being unfair at the end of the investigation and court process, which has been going on for 10 months, will pave the way for these moneys to be collected from the remaining representatives of the stock exchange.
Although Gerald Cotten's wife has agreed to pay $ 9 million to QuadrigaCX victims in recent months , it seems that she may have to pay more money with this decision, and she is at risk of losing her funds.