Author Topic: Bitcoin - Canadian Cryptocurrency founder Gerald Cotten, age 30, dies  (Read 55 times)

Offline ssfc72

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https://business.financialpost.com/technology/blockchain/how-gerald-cotten-built-quadriga-and-created-the-ensuing-crypto-storm

A very interesting article about how his business, Quadriga was started and is now in Bankruptcy, owing 260 million dollars.

The 92,000 Client's money/cryptocurrency is apparently locked in a password protected notebook computer and USB key, which no one but Cotten knew the password.
 
« Last Edit: February 12, 2019, 02:46:55 am by ssfc72 »
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Offline Jason Wallwork

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Re: Bitcoin - Canadian Cryptocurrency founder Gerald Cotten, age 30, dies
« Reply #1 on: February 13, 2019, 10:04:41 am »
Fascinating story. Wired had an article on it, too. It was pretty much a one-man operation in terms of how the transactions were handed and was strange even for cryptocurrency. This quote from the Wired article is enlightening and most amusing, or at least I thought so.

Its astounding to me that a company of this size can be run with the same accounting procedures of Joes Fish n Chips, with a single person in charge and no accountability, says Emin Gun Sirer, a blockchain adviser and professor of computer science at Cornell University. Thats far from the norm. Its not a good look for our industry.

And there's an awesome tweet here that speaks volumes. Regardless, if the investors didn't at least *try* to get their money out when the entire board or directors resigned in 2018, I don't have any sympathy for them.



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