$180 miilion dollars vanishes

YKNA

SO a crypto platform in Canada owner died and with it took all the passwords to where peoples money was held and guess what no one can access their funds anymore. Sounds fishy to me. Anyone lost on this one

debitcardmayhem

Yeah me I bought $1.8M when the price was 17000, is this a technical question?

techquest

Quadriga is the platform, I believe. The guy, 30 years old, died in India in December last year, so nothing fishy, but as you there are huge issues for its customers. More fool them.

John_Gray

Surely it's about time that there was a Conspiracy Theory about the inaccessibility of all those bitcoins?
Perhaps that's what the OP was referring to?

[@debitcardmayhem - I am sorry to hear about your sad loss, but next time you have $1.8M spare, please bear me in mind!]

twhitehousescat

I can sell you the key to the encryption , please send £500 in bitcoins to ,,,,,,,,,,,,,,,,

debitcardmayhem

John_Gray wrote: »

Surely it's about time that there was a Conspiracy Theory about the inaccessibility of all those bitcoins?
Perhaps that's what the OP was referring to?

[@debitcardmayhem - I am sorry to hear about your sad loss, but next time you have $1.8M spare, please bear me in mind!]

John if you know the key I will pay you 0.003 bitcoins and two pints of bit-ter

Sicard

Or it could be a case of The Fall and Rise of Reginald Perrin...

esuhl

I can't believe that anyone in charge of $180M wouldn't have spent a little bit of time making sure that he had a reliable setup, with reliable backups and redundancy.


And surely you'd employ security experts... who would consider all eventualities...? Especially something as common as death.

Sicard wrote: »

Or it could be a case of The Fall and Rise of Reginald Perrin...

Is the money traceable? If not... and with so much at stake, there's a lot of motivation for people to go to crazy lengths that might otherwise be labelled "conspiracy theories". :-/


A Reggie Perrin... Secret funding for Trump, ISIS, Mrs. Miggin's Home for Lost Cats... Who knows...? :-/

SnowTiger

https://www.bbc.co.uk/news/technology-47454528:

Efforts to recover millions in crypto-cash from the digital wallets of a man who died without revealing passwords to access them have hit a snag.

The wallets have been found to be empty.

The discovery was made by a firm appointed to oversee QuadrigaCX after the death of founder Gerald Cotten.

It expected to find the wallets full of C$180m ($137m; £105m) in crypto-cash deposited by the coin exchange's customers.

Mr Cotten, who died in India in December, had sole responsibility for handling the funds and coins passing through the site.

[...]

Mr Cotten's death forced the closure of QuadrigaCX and auditor Ernst & Young was appointed to wind it up.

Its investigation has secured access to Mr Cotten's laptop but also revealed that the digital wallets had been cleaned out months before he died.

stragglebod

Hmm. I'm sure with the right connections you could do a pretty good job of faking your death in a country like India, buy a genuine but stolen new identify that won't be missed, and still have a lot of change left from $180m.

littlerock

I believe there are suggestions he faked his death.