BitCoin: Should I Sign Up?

We are the Borg.
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Anaxagoras
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Re: BitCoin: Should I Sign Up?

Post by Anaxagoras » Tue Feb 05, 2019 2:18 am

Quadriga: Cryptocurrency exchange founder's death locks $140m
Canada's largest cryptocurrency exchange is unable to access millions in digital currency following the sudden death of its founder.

Quadriga has filed for creditor protection and estimates that about C$180m ($137m; £105m) in cryptocurrency coins is missing.

It has not been able to locate or secure its cryptocurrency reserves since Gerald Cotten died in December.

Cotten, 30, had sole responsibility for handling the funds and coins.

In court documents filed with the Nova Scotia Supreme Court on 31 January, his widow Jennifer Robertson, says the laptop on which Cotten "carried out the companies' business is encrypted and I do not know the password or recovery key".

"Despite repeated and diligent searches, I have not been able to find them written down anywhere," the affidavit states.

The company hired an investigator to see if any information could be retrieved but ongoing efforts have had only "limited success in recovering a few coins" and some information from Cotten's computer and phone.

The company is also investigating whether some of the cryptocurrency could be secured on other exchanges, according to court files.

They say about 115,000 Quadriga users hold balances in their personal accounts in the form of cash obligations and cryptocurrency.

The company estimates it owes about C$250m ($190m; £145m) - including C$70m in hard currency.

The affidavit says the majority of the cryptocurrency was kept by Quadriga in a "cold wallet" or "cold storage", which is located offline and used to secure cryptocurrency from hacking or theft.
Brilliant.
A fool thinks himself to be wise, but a wise man knows himself to be a fool.
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Abdul Alhazred
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Re: BitCoin: Should I Sign Up?

Post by Abdul Alhazred » Tue Feb 05, 2019 2:25 am

Technology provides a way ==> Now you CAN take it with you. :BigGrin3:
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Rob Lister
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Re: BitCoin: Should I Sign Up?

Post by Rob Lister » Tue Feb 05, 2019 11:09 am

More like a modern buried treasure.