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News: QuadrigaCX CEO Lost $190 Million in Crypto, Former Friend Says He Was Fearful

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0:00:00 QuadrigaCX CEO Lost $190 Million in Crypto, Former Friend Says He Was Fearful

0:00:07 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.

0:00:13 The untimely death of QuadrigaCX CEO Gerald Cotten has left $190 million worth of customers’ crypto funds inaccessible.

0:00:22 Many theorized that Cotten faked his demise to disappear with the money.

0:00:26 But according to his former friend and colleague, the late entrepreneur was not capable of taking such drastic measures.

0:00:32 Adam O’Brien told Global News that before his death, Cotten had mused him about being kidnapped for having access to a multimillion-dollar fortune.

0:00:40 “Gerry was holding, we know, over $100 million, almost $200 million in funds,” O’Brien asserted.

0:00:48 “That makes people do some pretty crazy things.

0:00:51 Cotten’s widow Jennifer Roberston wrote in her affidavit that Cotten died of Crohn disease while taking a humanitarian trip to India’s Jaipur town.

0:00:59 The local police issued a no objection certificate, confirming the circumstances surrounding Cotten’s demise, before sending his remains to Nova Scotia.

0:01:08 The conspiracy theories about Cotten faking his death ended right there.

0:01:12 But the fact that Cotten did not pass down the passwords of wallets that held $190 million of customers’ funds with a trustworthy party raised doubts.

0:01:21 “I think here we do have one leg up in a dead man’s switch,” O’Brien said.

0:01:26 A dead man’s switch is a computer program which transfers a human operator’s security credentials to a priorly designated receiver over non-activity for a specified period.

0:01:36 So, for instance, the operator dies unexpectedly or fails to interact with his machine for a long time, a dead man’s switch automatically passes down the information to the next person in line, ensuring that data remains accessible to a human.

0:01:49 Thanks for watching this video.
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