Quadriga’s Conundrum : An Analysis
▻https://hackernoon.com/quadrigas-conundrum-an-analysis-ce6ec59ee46b?source=rss----3a8144eabfe3-
By: Jesse AbramowitzBlockchain DeveloperIn what seems stranger than fiction, earlier this week, Quadriga, admitted that they are unable to recover access to $145 million of #btc and other digital assets. This was announced after 30 year old founder Gerald Cotten was reported dead following complications arising from Crohn’s Disease.As it turns out, Cotten was the only one with access to Quadriga’s funds in cold storage and the password was lost along with his life.It is a a very sad end to the story, both for the friends and family of Cotton, but also users of Quadriga.In the wake of this story, it seems crazy for anyone to keep a significant amount of funds on exchanges, yet this isn’t the first time and this won’t be the last time. For example, Mount Gox. At the very least hopefully, I can (...)
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