QuadrigaCX Can’t Access $190 Million in Crypto After Founder Dies

Cryptocurrency
QuadrigaCX

Around $190 million in cryptocurrency has been lost and locked away somewhere online where no one can reach it. What’s to blame? Canada’s largest cryptocurrency exchange, QuadrigaCX.

Back in December, the cryptocurrency exchange’s founder perished while in India. According to CoinDesk, a court filing states that the company does not have access to most of the funds, because the founder held the private keys. As of late-January, around 115,000 users have balances with the exchange.

The company announced it has filed for creditor protection but did not give full details as to why. Now, the filing itself gives answers. The company states that all the funds from the company were kept in offline, cold-storage wallets.

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