The recent news about the death of Quadriga CX’s CEO Gerald W. Cotten is currently creating havoc in the cryptocurrency world, especially to their users. Apparently, they could not recover millions in their accounts because only Cotten knew the security keys and passwords needed to access the funds. While there may be other crypto exchanges that may have lost their clients’ money, this is the first time that one has said that they lost the keys to the account. Naturally, this is causing anger and frustrations from its investors and fear to other cryptocurrency investors.
Quadriga CX is a Canadian cryptocurrency exchange, which is one of the most widely recognized cryptocurrency exchanges in the world. It was founded in 2013 with Cotten being one of the co-founders, and it went offline on January 28, 2019. Since then, investors have been pursuing investigations into the company’s claims and potential lawsuits. The news of Cotton’s death on December 9, 2018, shook them as they are yet to refund their funds. Many of them question the authenticity of his death. According to some, he might have faked his death as a strategy to what they call an exit scam. Now, their lawyers want to exhume his body to conduct an autopsy that will prove his identity, as well as the cause of death.
But cryptocurrency investors should not fear.
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Everyone is encouraged to take a look at its most user-friendly platform as its source code is open to all. Watch out as they will be launching its Initial Exchange Offerings (IEO) soon, where even first-time investors will have the opportunity to invest in. Stages of progression are as follows: First Russia, the CIS, and Eastern Europe, then Southern Europe, then Northern Europe, then North America, then Japan, Korea, China, and Taiwan. Funds raised during each round of progression will be used for promotion in the next market. Meantime, you may already download it here and see it for yourself.