We have accepted it now. The world of crypto money is as rich as it is with big profits. There were also big losses a market.

Because this was the case, investors suddenly lost their fortunes in the cryptocurrency market. to various scandals It is possible to encounter.

The bankruptcy of QuadrigaCX, one of Canada’s largest exchanges, also caused a major scandal.

QuadrigaCX, founded by Gerald Cotten in 2013 was operational.

As interest in cryptocurrencies grew, QuadrigaCX’s user base and transaction volume also grew rapidly, making it One of Canada’s largest cryptocurrency exchanges someone had done it.

But when everything goes so well, experiencing an unexpected death It would lead to a huge disaster for investors.

In December 2018, the sudden death of Gerald Cotten from Crohn’s disease while he was on his honeymoon in India caused a major disaster.

Because Cotten, the founder of the exchange, had exclusive control over the platform.

So who knows all the passwords and access information to QuadrigaCX? Cotten was the only one.

Therefore with the death of Cotten All passwords and information related to the stock market And he went into the tomb…

This means approximately Cryptocurrency worth $190 million It caused a huge panic among investors, making it inaccessible.

After the incident it came to light that the financial structure of the exchange was inadequate and not properly managed The crisis could not be overcome and the stock market went bankrupt.

There were also several speculations in the media that Cotten’s death was fake.

After Gerald Cotten’s death, many people thought this was part of the event. fraud He began to think so.

Lack of documentation on Cotten’s death took place in India and the fact that only he knew the passwords to the exchange raised suspicions.

Some conspiracy theorists even claim that Cotten you’re not really dead and claimed he was starting a new life with millions of dollars in cryptocurrency.

In summary, the QuadrigaCX scandal shows once again how important trust is in the cryptocurrency world. big question sign left.

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