Gerald Cotten

Canada's leading cryptocurrency exchange company has said it cannot repay $190m (£110m) to clients because its founder died with their passwords.

Gerald Cotten, 30, founder of QuadrigaCX died "due to complications with Crohn's disease" while travelling to India to open an ophanage in December, his wife Jennifer Robertson said.

Mr Cotten held "sole responsibility for handling the funs and coins" and no other members of the team could access the stored funds, she said in a sworn affidavit as she filed for credit protection on January 31.

Ms Robertson said about $190m (£110m) in both cryptocurrency and normal money is in "cold storage" - where the company or just Mr Cotten in this case, holds the key, not the client.

She has her husband's laptop but she didn't know the password and a technical expert they hired had not been able to bypass its encryption, she told the court.

Source: https://www.tori.ng/news/115776/drama-a … 0-mil.html