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
     
    mh09ad5578 and paarkhi like this.
  5. adventureguy

    adventureguy Well-Known Member
    Veteran

    This is good for bitcoin /s
     
  6. Rockfella

    Rockfella Senile.
    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 Senile.
    Section Mod

    ok..:)
     
  9. cute.bandar

    cute.bandar Well-Known 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 Well-Known 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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