On December 9, 2018, news broke that Gerald Cotten, the CEO of QuadrigaCX, had died while traveling in India. Cotten was only 30 years old.
His death sent shockwaves through the cryptocurrency community, as QuadrigaCX was one of the largest cryptocurrency exchanges in Canada.
The story behind Gerald Cotten’s death is a tragic one. Cotten was the only person who had access to QuadrigaCX’s ” cold storage” – a offline storage system used to keep the majority of the exchange’s Bitcoin safe from hacking attempts.
NOTE: WARNING: The story behind Gerald Cotten’s death as it relates to Bitcoin is still speculative and has yet to be fully verified. There is a risk that the information available on this subject could be false or misleading, so please be aware and exercise caution when researching or discussing this topic.
Without Cotten’s password, no one else could access the Bitcoin.
This meant that when Cotten died, QuadrigaCX lost access to millions of dollars worth of Bitcoin. The company is now attempting to use Cotten’s death as an excuse to avoid paying out to customers who are owed money.
The story behind Gerald Cotten’s death is a cautionary tale for those who invest in cryptocurrency. It highlights the risks associated with putting all your eggs in one basket – in this case, trusting a single person with access to all your funds.
It also serves as a reminder that even the most well-protected systems are vulnerable if there’s only one person who knows how they work.
9 Related Question Answers Found
In QuadrigaCX’s case, the story behind Gerald Cotten’s death is much more complicated than simply losing the keys to the kingdom. For one, there is the question of why Cotten would be the only person with access to the cold wallets containing the majority of QuadrigaCX’s Bitcoin. Secondly, there is the fact that Cotten died in India, far from home and with no known will or estate plan in place.
When it comes to Bitcoin, we’re in the midst of a price crash the likes of which we haven’t seen since the great crypto crash of 2018. Bitcoin prices have been on a tear over the past few months, rising from around $10,000 in October to nearly $20,000 in December. But then came the crash, with prices plunging to around $12,000 by mid-January.
When it comes to Bitcoin, there are a lot of different factors that can affect the price. In general, when the demand for Bitcoin goes up, the price will also go up. However, there are also times when the opposite happens and the price of Bitcoin drops.
Bitcoin dropped today because of a variety of reasons. The most prominent reason is that the Mt. Gox exchange, which is the largest exchange for Bitcoin, filed for bankruptcy in Japan.
Bitcoin purchases can sometimes be pending for long periods of time. There are a few reasons for this:
The first reason is that the Bitcoin network is congested. When there are a lot of people trying to buy Bitcoin, the network can get bogged down and transactions can take a long time to go through.
When it comes to Bitcoin, there are generally two schools of thought – those who believe that it is a digital gold and those who think of it as a payment system. The latter group has been in the ascendancy in recent months as the Bitcoin price has failed to break new ground and has even pulled back from some of its all-time highs. However, there are a number of underlying factors which suggest that the Bitcoin price could be on the verge of a comeback.
When most people think of Bitcoin, they think of it as a digital currency that can be used to purchase goods and services online. However, Bitcoin is much more than that. It is also a decentralized platform that can be used to store and transfer value.
In October of 2013, the US Department of Justice (DOJ) announced the seizure of 26,000 Bitcoin, then worth $3.6 million, from the Silk Road marketplace. The Silk Road was an online marketplace that allowed users to buy and sell illegal drugs and other contraband using the anonymity of the Bitcoin network. The DOJ’s seizure of the Bitcoin was part of their investigation into the Silk Road and its founder, Ross Ulbricht.
When it comes to Bitcoin, we’re in the midst of a price correction that has lasted for over two months. The question on many people’s minds is “Why did Bitcoin drop?”
The simple answer is that Bitcoin dropped because the market decided it was overvalued. However, there are a few other factors that likely played a role in the recent price drop.
