Published: Mon, February 11, 2019
Markets | By Otis Pena

Indian Hospital Releases Details About QuadrigaCX CEO’s Death

Indian Hospital Releases Details About QuadrigaCX CEO’s Death

The private hospital in India where Gerald Cotten, CEO of Canadian cryptocurrency exchange QuadrigaCX died on December 9 previous year, more details have been released about his sudden death.

Cotten died December 9 of complications due to Crohn's disease in Jaipur, India, according to Robertson's affidavit and a statement of death from J.A. Snow Funeral Home in Halifax, dated December 12.

A clearer picture is emerging of the young CEO, Gerald Cotten, at the centre of the mysterious demise of one of Canada's largest cryptocurrency exchanges, who died while on a visit to India, a Canadian media report said today.

"Quadriga was unable to access the cold wallets and/or discovered that the cold wallets contained minimal cryptocurrency units."
The firm's court filings state that it owes customers approximately $190 million (USD), but the exchange also claims to have considerable assets, approximately $147 million (USD) in cryptocurrency, as well as millions of dollars in fiat currency.

Canadian cryptocurrency exchange QuadrigaCX is not regulated by the British Columbia Securities Commission (BCSC), the province's financial regulator, Reuters reported, as the crypto firm founder's death has left millions of dollars in cryptocurrencies locked.

Reports have shown he filed for a will 12 days before passing away in India, and the documents show he left all his assets to his wife, Jennifer Robertson, and he made her the executor of his estate. She was granted the right to administer his estate as executor on January 2.

The founder, CEO, and director of Quadriga Fintech Solutions Corp, Cotten had a Bachelor of Business Administration degree from the Schulich School of Business at York University.

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The same concerns have also been expressed from within the exchange's user community, with some unconvinced with the story behind Cotten's death.

Elsewhere, it is being reported that Cotton filed his will less than a fortnight before he died.

Quadriga CX was given creditor protection this week in Nova Scotia Supreme Court, essentially halting any legal claims against it. Cotten resided near Halifax, Nova Scotia. The cause of death is not listed.

According to Fortis Escorts Hospital, Cotten succumbed to a heart attack on December 9 previous year.

In her affidavit, Robertson said she has been subjected to online threats, slanderous comments and speculation about Cotten's death, "including whether he is really dead".

Those using the now embattled cryptocurrency exchange QuadrigaCX won't be able to count on support from British Columbia's securities regulator, the British Columbia Securities Commission, as it wasn't regulated by the agency.

[BCSC] does not now have any indication that Quadriga CX, the crypto asset trading platform, was trading in securities or derivatives or operated as a marketplace or exchange under British Columbia securities laws. "The RCMP is aware of the allegations against Quadriga CX", Sgt Penny Hermann said in an email.

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