Cryptocurrency is still a relatively new and, for some, definitely confusing new technology, but the story of QuadrigaCX (QCX), the now notorious Canadian exchange, is a real life tall tale for the ages. Back in March, it was reported that the company couldn’t pay back most of their clients’ $190 million ($250 in Canadian dollars) because their 30-year-old founder, Gerald Cotten, had (by the way, allegedly) died and they couldn’t find the password to their offline storage units.
This weird story just got somehow weirder: The Wall Street Journal (via Gizmodo) claims that, based on a report by Ernst & Young last week, Cotten “took most of the money entrusted to him by clients and spent much of it on himself and his wife.”
In December, Cotton, it was claimed, died of complications from Crohn’s disease while allegedly traveling in India, where he was allegedly opening an orphanage. Later it was discovered that many of the wallets associated with QCX had been largely drained some eight months before Cotten’s death, which again remains alleged.