When QuadrigaCX announced last month that CEO Gerald Cotten had suddenly died and roughly $150 million in cryptocurrency ($180 million Canadian) was inaccessible as a result, the crypto world went nuts. According to a CBC report today, the notorious Bitcoin exchange may be sold to compensate victims. Additionally, Cotten’s encrypted laptop will be handed over to lawyers for the exchange’s creditors and “eventually given to a court-appointed monitor.”
CANADA’S BIGGEST BITCOIN EXCHANGE MAY BE SOLD
So far, the company filed for protections under a Depression-era law that prevents complete destruction of insolvent businesses in Canada. They are considering selling the exchange’s IP assets in an effort to satisfy debts.
However, in another bombshell report, CCN’s Joseph Young reported that there may be no such cryptocurrency to speak of. There is a lot of money on the line. It seems likely that the best efforts at cracking the laptop will be employed in an effort to recover the funds. But, like Joseph Young and MyCrypto.com’s Taylor Monahan suggest: there may be no cryptocurrency to recover.“Some of the main addresses of QuadrigaCX also reportedly sent outgoing transactions after the death of its CEO Gerald Cotten, which should not be possible if the CEO had full control over all of the firm’s wallets.”