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... founder and CEO, Gerald Cotten, died at age 30 — without sharing the password for his encrypted laptop.
... [explanation of how wallets are managed]...
What is particularly problematic for Quadriga is that its CEO seems to be the only person who held the keys to those transactions.
"The transfer of coins from the cold wallet to the hot wallet was performed manually by [Cotten]," the affidavit from Robertson states.
Quadriga did not have offices or a bank account of its own; in the court filing, Robertson said, "Gerry ran the business through his laptop, mostly at our home, but also wherever he happened to be."
Cotten was "the sole officer and director" of the Canadian cryptocurrency exchange when he died
"I do not have any documents or records" for the business, Robertson added
Even before Cotten's death, Quadriga was struggling to cope with transaction delays and other problems after legal disputes with a large bank and payment processors resulted in tens of millions of dollars being frozen.