Can ICOs Prevent Money Loss?
▻https://hackernoon.com/how-icos-can-prevent-money-loss-79a6c274ba89?source=rss----3a8144eabfe3-
Have you heard recently about Quadriga? Quadriga was Canada’s largest cryptocurrency exchange with over 115,000 users with multimillion-dollar transactions daily. The money allocated on the exchange summed up to $250MM from which $50MM came from FIAT currency and the rest was in crypto.The company started to have some liquidity problems in January 2018 and the Canadian bank CIBC froze around $15MM linked to its payment processor after the bank had difficulty determining who the owners of the money were.Adding insult to injury Quadriga’s CEO, Gerald Cotten, 30, passed away last December and left everyone in astonishment.OK back to the root.Quadriga’s cryptocurrency holdings were located and encrypted on a cold wallet and the password to access it was only known to the CEO. He stored (...)
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