Gerald Cotten died in India, according to his wife.
Posted on 03/06/2019 12:09:47 PM PST by Red Badger
But the money was already gone........
Millions of dollars were missing when the CEO of a crypto exchange died without sharing the passwords to his accounts. Investigators recently cracked his laptop — only to find the money was gone.
Gerald Cotten, the founder of QuadrigaCX, was thought to have had sole access to the funds and coins exchanged on it. After his death in December, his colleagues said that about $137 million in cryptocurrency belonging to about 115,000 customers was held offline in "cold storage" and inaccessible.
The case has sparked numerous theories, including that Cotten faked his own death and ran off with the cash. A court-appointed auditor, Ernst & Young, was able to crack Cotten's laptop and found that the accounts were emptied in April, eight months before his death, it said in a report last week.
(Excerpt) Read more at markets.businessinsider.com ...
What happened.
The Big Bang Theory
With the laptop in hand, it’s time to find the Bitcoin. However they find the folder empty. All this time Sheldon had known exactly where the Bitcoins were. He had moved the Bitcoins to Leonard’s Batman flash drive on his keys and had waited this long to serve his revenge.
It all backfires on Sheldon. Leonard lost that flash drive four years ago (Stuart found it in his comic book store and wiped it, so he could sell it for a measly $10) so the Bitcoins are gone forever. That means thousands of dollars just gone; vanished into thin air. Sheldon admits that there is a lesson for them all to learn, although he had no idea what type of lesson he needs to learn.
https://hiddenremote.com/2017/12/01/big-bang-theory-recap-penny-leonard-find-7-year-old-video/
Crazy story gets crazier.
People have done crazy things for money.
And there’s always someone along the line who can be bribed.
I guess :)
Brute force attack would be difficult. I am no expert but it seems the main exploits have been things like 51% exploits, wherein a fraudulent transaction is able to hit the ledgers on a majority of machines. I think this is near impossible on the major cryptos The networks that are especially vulnerable to this are those that use hub & spoke type distribution, eg. where the 100,000’s of machines rely on a few 1000 machines to transmit data. Some of the smaller coins I believe a 51% exploit has been attempted - definitely theorized.
In any case, fraud is a major issue that needs to be addressed to grow the market. All the major credit card companies have several advantages - higher fees, banking units, investment income, and the backing of the Federal Reserve to cover their enormous fraud losses. At the moment all crypto holders are basically at the mercy of their exchanges and the people who make the wallets.
Remember “Not Your Private Keys, Not Your Bitcoin”. Don’t store your crypto on an exchange and don’t use “light wallets”. Run Bitcoin “Core” or keep your keys in a “hardware wallet”.
Too many stories about the exchanges cleaning out the customers for it to be very difficult.
But for 1.6 million dollars, we could become heroes for three days.
Not 1.6 but 16. 16 million dollars!
A DEAL, deal! Maybe the guy’s a Republican. “Business is business,” right?
“died in India, shipped back to Canada, closed casket funeral followed by cremation.”
I’m thinking that if you have 150 million, it would be reasonably easy to buy a body in India for this.
This guy must have made a deal... a deal deal.
All you have to do for an equal share is swing that turret around.
And in totally unrelated news, today Ernst & Young announced the addition of $150 million to their bottom line.
Crohn’s Disease + India? Clearly the guy had a death wish.
A court-appointed auditor, Ernst & Young, was able to crack Cotten's laptop and found that the accounts were emptied in April, eight months before his death, it said in a report last week.
Uh-oh, someone got away with embezzling $137 million worth of imaginary ****. Thanks Red Badger.
Gerald Cotten died in India, according to his wife.
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