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Wed Mar 6, 2019, 08:50 AM

Owner of crypto-exchange faked death, stole $190 million from clients' bank-accounts.

I posted on that a while ago.



Gerald Cotten, the owner of Quadriga, a crypto-exchange platform (which are basically unregulated online-banks for cryptocurrency), died in India and now customers can't access their bank-accounts at Quadriga because he was the only one who had the codes to authorize transactions.

Or so we thought.

White-hat hackers have cracked some parts of the system and it looks like all bank-accounts were emptied 8 months before his "death". The money was transfered to 14 bank-accounts at Quadriga that SOMEONE created outside of the usual bookkeeping process. And those 14 accounts transfered the money elsewhere.

https://www.thedailybeast.com/auditors-say-crypto-wallets-drained-8-months-before-chief-died-with-passwords?ref=home

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Reply Owner of crypto-exchange faked death, stole $190 million from clients' bank-accounts. (Original post)
DetlefK Mar 6 OP
Kurt V. Mar 6 #1
FM123 Mar 6 #2
Dave Starsky Mar 6 #3
marble falls Mar 6 #4
zipplewrath Mar 6 #6
marble falls Mar 6 #7
zipplewrath Mar 6 #8
jberryhill Mar 6 #9
Rainbow Droid Mar 6 #16
jberryhill Mar 6 #19
justhanginon Mar 6 #5
MH1 Mar 6 #14
Blue_Tires Mar 6 #10
Grokenstein Mar 6 #12
ancianita Mar 6 #15
ProfessorPlum Mar 6 #11
Grokenstein Mar 6 #13
RandiFan1290 Mar 7 #20
lindysalsagal Mar 6 #17
gratuitous Mar 6 #18

Response to DetlefK (Original post)

Wed Mar 6, 2019, 08:52 AM

1. under the category of: truth is stranger than fiction.

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Response to DetlefK (Original post)

Wed Mar 6, 2019, 08:53 AM

2. Wow, that is some story. Keep us updated...

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Response to DetlefK (Original post)

Wed Mar 6, 2019, 08:57 AM

3. I knew it!

I remember hearing about this guy, and I instantly thought the same thing.

I hope they find this clown.

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Response to DetlefK (Original post)

Wed Mar 6, 2019, 09:00 AM

4. In no article, including this one, is there any statement he faked his death.

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Response to marble falls (Reply #4)

Wed Mar 6, 2019, 09:11 AM

6. Actually it is suggested

If you click on the article referenced in the link you'll get down to this.


The local Halifax funeral home J.A. Snow provided a statement of death on Dec. 12 that allowed Cotten’s company to file for creditor protection, but his remains were not returned to Canada. Reporters from The Chronicle Herald petitioned all of the local funeral directors and none of them had dealt with Cotten’s remains.

Several conspiracy threads have started popping up on online entities including Reddit that have suggested that perhaps Cotten is lying on a beach waiting for his wife to join him, or that suggest that even his wife has no idea what the real truth is.


https://www.thedailybeast.com/questions-surround-quardigacx-cryptocurrency-story-of-boss-who-died-with-codes-to-the-vault

And if you go to the referenced Skynews article you'll see this:

Some are questioning whether Mr Cotten is even dead and others have accused the company of lying to them.

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Response to zipplewrath (Reply #6)

Wed Mar 6, 2019, 09:18 AM

7. Its been suggested the moon is made of green cheese.

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Response to marble falls (Reply #7)

Wed Mar 6, 2019, 09:23 AM

8. Well, okay

I'm just saying it was in fact discussed despite your assertion to the contrary. I suspect your assertion now is that there is no formal legal accusation right now of this, merely interested parties expressing their frustrated opinions.

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Response to marble falls (Reply #7)

Wed Mar 6, 2019, 09:28 AM

9. Given that the wallets were emptied 8 months before his alleged death


One might suppose he was aware of that.

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Response to jberryhill (Reply #9)

Wed Mar 6, 2019, 07:28 PM

16. There you go again making sense with simple observations! Why you gotta make fools look foolish?

YOU A HATER!

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Response to marble falls (Reply #4)

Wed Mar 6, 2019, 07:49 PM

19. Only that all the money went missing months before he died, and nobody has his remains


But, yeah, other than a missing pile of money and a missing body, there's nothing unusual here.

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Response to DetlefK (Original post)

Wed Mar 6, 2019, 09:04 AM

5. Yeah, it's a mystery how this could have happened.

Quadriga, a crypto exchange platform (which are basically unregulated online-banks for cryptocurrency).
We don't need no damn regulations. Riiiiight!

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Response to justhanginon (Reply #5)

Wed Mar 6, 2019, 10:18 AM

14. Almost missed

your sarcasm tag there.

Yeah, no one could have expected this at all ...

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Response to DetlefK (Original post)

Wed Mar 6, 2019, 09:46 AM

10. What's so great about cryptocurrency again?

I mean, for folks who aren't buying human organs or Predator Drones through the black market??

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Response to Blue_Tires (Reply #10)

Wed Mar 6, 2019, 10:09 AM

12. It's like, cool, and new, and stuff!!

You just don't get it!

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Response to Blue_Tires (Reply #10)

Wed Mar 6, 2019, 10:22 AM

15. Other than to serve some non-Western economy activity, not much. From David Wallace-Wells' book,

"The Unhabitable Earth"2019):

"Bitcoin...mining...consumes more electricity than is generated by all the world's solar panels combined

... which means that in just a few years, we've assembled, out of distrust of one another and the nations behind 'fiat currencies,' a program to wipe out the gains of several long, hard generations of green energy innovation..."

My daughter bought Bitcoin years ago, still ignoring its negligible effect on world economies.


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Response to DetlefK (Original post)

Wed Mar 6, 2019, 09:46 AM

11. gee, you mean cryptocurrencies are ripe for scammers?

whodathunkit

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Response to ProfessorPlum (Reply #11)

Wed Mar 6, 2019, 10:11 AM

13. There will always be people who have to learn the hard way. The hardest way.

...trumpkins, for example.

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Response to ProfessorPlum (Reply #11)

Thu Mar 7, 2019, 07:18 AM

20. Criminals still prefer cash. nt

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Response to DetlefK (Original post)

Wed Mar 6, 2019, 07:32 PM

17. Another sucker born every minute.

Only the technology of the hustle changes.

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Response to DetlefK (Original post)

Wed Mar 6, 2019, 07:49 PM

18. Hmmm

Cotten's wife and his company have both said that Cotten died December 9 in Jaipur India from complications due to Crohn's Disease. I'm stuck with Bane's assertion from The Dark Knight Rises: If he's dead, show me the body.

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