CEO QuadrigaCX Death Confirmed

According to the Indian doc, Cotten died 9.12.2018 due to Crohn's disease complications
06 February 2019   523

Indian authorities confirmed the death of Gerald Cotten, the founder of the Canadian bitcoin exchange QuadrigaCX. As stated by representatives of the trading platform, it happened in early December. The relevant documents were made available to the publication CoinDesk.

India confirmed the words of Jennifer Robertson, wife of Cotten, about his death on December 9. The funeral took place on December 12 in Halifax. According to the documents, he died due to complications from Crohn’s disease. 

Note that many representatives of the community doubted that Cotten really passed away, and assumed that there was a dramatization in order to steal users' funds.

So, it was not entirely clear why death was reported only a month later, with which problems were associated with the withdrawal of Fiat and digital currencies, and why QuadrigaCX did not disclose the relevant evidence.

Recall that about 115 thousand users had cryptocurrency (180 million CAD) and fiat balances (70 million CAD). There are 26,500 BTC, 11,000 BCH, 11,000 BSV, 35,000 BTG, 200,000 LTC and 430,000 ETH stored on the wallets of the exchange. Most likely, all these funds are in a cold storage, access to which was only in Cotten.

Hacked Zaif Exchange to Resume Operations

It was hacked in September last year,  about $60 million in cryptocurrency was stolen from its platform
22 April 2019   83

Japanese cryptocurrency exchange Zaif announced that it will complete the transition from the Tech Bureau to the Fisco Digital Asset Group (FDAG) on April 22 and resume normal operation the next day, Cointelegraph reportes.

In September last year, the exchange underwent a hacker attack when about $ 60 million in cryptocurrency was stolen from its platform, including Bitcoins, Bitcoin Cash and Monacoin. As part of the compensation plan to users, FDAG exchange acquired a large stake in Zaif business and transferred to the Tech Bureau over $ 44.6 million.

According to an earlier announcement of the exchange, 40% of the lost funds will be compensated to users by Fiat, and the remaining 60% - to the cryptocurrency, which will be available for withdrawal on April 23.