Quadriga, which facilitates the trading of multiple cryptocurrencies, including Bitcoin, Etheteum and Litecoin, filed with the Nova Scotia Supreme Court for creditor protection just last week. It granted a stay of proceedings today.
In total, Quadriga owes C$250 million to 115,000 of it’s users, according to an affidavit filed by Cotten’s widow, Jennifer Robertson.
“Despite repeated and diligent searches, I have not been able to find (the password or recovery key) written down anywhere,” Robertson said. Per the affidavit, the cryptocurrencies are held in a cold wallet on Cotten’s computer, accessible only physically with a password.
Tragic, indeed, as a family has lost a son and husband, and many QuadrigaCX users may have lost their cryptocurrency holdings forever.
Either way, it’s a sad story, truly, and why we at Crypto Mouse advocate for our dear readers to ALWAYS hold their crypto in their own, cold storage wallets.