Over $190 million worth of Bitcoin might be trapped forever, after the only person who knew the password to access it died unexpectedly.
QuadrigaCX, a Canadian cryptocurrency exchange, says it can’t access the money after its 30-year-old founder Gerald Cotten died during a trip to India back in December.
The money was kept in a “cold” digital wallet, meaning it was offline to keep it safe from hackers. Unfortunately, that makes the wallet almost impossible to access without the passwords.
Now QuadriaCX is asking for credit protection while the company tries to figure out how to get their customers’ money back.
Have you invested any money in cryptocurrency? Do you trust it? Is it possible something shady is going on with this story?