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  #1  
Old 05 February 2019, 01:21 AM
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Default Cryptocurrency Exchange Says It Can't Access Millions After CEO Unexpectedly Died

Cryptocurrency Exchange Says It Can't Access Millions After CEO Unexpectedly Died

Quote:
The QuadrigaCX cryptocurrency exchange says it can't access some $190 million in bitcoin and other funds after its founder and CEO, Gerald Cotten, died at age 30 ó without sharing the password for his encrypted laptop.
The passwords appear to have been entirely inside one person's head.

I know that few people these days expect to die at age 30. But how could that seem like a good idea?
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  #2  
Old 05 February 2019, 02:17 AM
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That seems highly suspicious.
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Old 05 February 2019, 03:39 AM
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Quote:
Originally Posted by thorny locust View Post
I know that few people these days expect to die at age 30.
Hey, I’m still surprised I didn’t.
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Originally Posted by crocoduck_hunter View Post
That seems highly suspicious.
Most of this crypto currency stuff does.
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  #4  
Old 05 February 2019, 04:26 AM
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Yes, yes it does.
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  #5  
Old 06 February 2019, 12:32 AM
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It reeks of an economic bubble ala the dotcom bust.
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  #6  
Old 06 February 2019, 01:17 AM
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Worse, it reeks of an unregulated industry. The sort that libertarians flock to, then come crawling back from after slightly more savvy criminals take all their money. It’s a libertarian criminal's wet dream. I bet Ross Ulbricht is kicking himself in the can (get it? Because he’s in the can!) for missing out on this.
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Old 06 February 2019, 02:17 AM
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I've seen numerous reports on cryptocurrency's popularity for money laundering.
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  #8  
Old 06 February 2019, 01:11 PM
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AIUI, it started as an untraceable way to pay for illegal things like child pronography or for people who write ransomware to be paid.
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Old 07 February 2019, 02:43 AM
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Quote:
Originally Posted by ASL View Post
Worse, it reeks of an unregulated industry. The sort that libertarians flock to, then come crawling back from after slightly more savvy criminals take all their money. Itís a libertarian criminal's wet dream. I bet Ross Ulbricht is kicking himself in the can (get it? Because heís in the can!) for missing out on this.
This seems to be a reoccurring pattern with Libertarians, fiascos akin to Galtís Gulch Chile. The tl;dr regarding GGC is basically a bunch of Ayn Rand LARPers were swindled by an even bigger con artist, and basically were left with no options except to seek help from the government institutions they hate so much.
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  #10  
Old 06 March 2019, 08:27 PM
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Suspicious people appear to have been correct to have been suspicious.

Crypto Mystery: Quadriga's Wallets Are Empty, Putting Fate Of $137 Million In Doubt

Quote:
The money was there ó it was just locked away. At least that's what the QuadrigaCX cryptocurrency exchange had been saying, before an auditor revealed it had finally accessed digital wallets set up by Quadriga's late CEO Gerald Cotten ó and that instead of holding $137 million, the wallets were empty, drained in 2018 [ . . .] months before Cotten's death was reported
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