Cryptocurrency firm CEO dies, taking with him passwords that has locked up $190 million

Discussion in 'Latest Technology News' started by logistopath, Feb 6, 2019.

  1. logistopath

    logistopath Molar Police
    Super Mod

    A 30-year old CEO of a Canadian cryptocurrency firm reportedly died in India from complications from Crohn's disease (an intestinal inflammation disorder) taking with him passwords that has locked up $190 million in investor cryptocurrency.


    Read here -
    https://m.timesofindia.com/business...million-with-him/amp_articleshow/67858198.cms

    https://www.foxnews.com/tech/crypto...eded-to-unlock-customers-190m-reports-say.amp

    So, what happens in such cases, assuming there is no way to recover the password?
     
  2. indy1811

    indy1811 Well-Known Member
    Veteran

    Conspiracy theorists on reddit suggest that he has faked his death. Apparently, transactions are still being carried out from an LTC account linked to that person/org.
     
    Rockfella likes this.
  3. OP
    OP
    logistopath

    logistopath Molar Police
    Super Mod

    Interesting read here, although I couldn't understand most of the technical parts of it: https://blog.zerononcense.com/2019/02/04/quadrigacx-chain-analysis-report-pt-1-bitcoin-wallets

    Yeah. So many unanswered questions. It seems the company was in trouble for almost a year, and then suddenly this. Naturally, everyone is suspicious.
    --- Post Merged, Feb 6, 2019 ---
    Add to it the fact that the CEO had signed a will in November 2018 leaving most of his assets to his wife. Perfect recipe for conspiracy theories.

    Wonder if, when and how much the investors will get back their money!
     
    #3 logistopath, Feb 6, 2019
    Last edited: Feb 6, 2019
  4. Soyab0007

    Soyab0007 Gamer
    Adept

    Good news for Bitcoin holders... 190$ Million removed from circulation
     
    paarkhi likes this.
  5. adventureguy

    adventureguy Well-Known Member
    Veteran

    This is good for bitcoin /s
     
  6. Rockfella

    Rockfella Nordic.
    Section Mod

    Who the hell was holding Bitcoins in 2019?
     
    ssslayer likes this.
  7. adventureguy

    adventureguy Well-Known Member
    Veteran

    I do hold bitcoins but its for online payments, not investment purposes.
     
  8. Rockfella

    Rockfella Nordic.
    Section Mod

    ok..:)
     
  9. cute.bandar

    cute.bandar Active Member
    Adept

    Keeping bitcoins with with someone else is like opening a bank in your home. The whole point of bitcoin is destroyed the moment someone gives the private keys to some exchange.
     
  10. Soyab0007

    Soyab0007 Gamer
    Adept

    things are changing a lot in crypto world. a lot of exchanges hacks realizing people to keep custody of their own coin.
    decentralized, privacy and anonymous is the future in crypto.
     
  11. cute.bandar

    cute.bandar Active Member
    Adept

    Being decentralized is the whole concept/point of bitcoin, not just future :) . The only exchange that should be used, are those used to convert from/to other currencies.
     

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