Following the sudden death of its co-founder and CEO, Gerald Cotten, in December 2018, Quadriga, Canada's largest cryptocurrency exchange, is unable to gain access to about $145 million of bitcoin and other digital assets. Quadriga reports that Cotton stored the digital assets in a "cold wallet" on his encrypted laptop and repeated attempts by his widow to gain access to the laptop have proven unsuccessful.
Quadriga has been forced to stop trading on its platform, which has affected its ability to serve its customers. The company is attempting to obtain an order for creditor protection in accordance with Canada's Companies' Creditors Arrangement Act to provide it with an opportunity to resolve this issue.
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