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Why Are a Dead Guy's Crypto Coins Moving?

The Breakdown

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Quadriga - The Last Regular Breakdown of the Year

Quadriga was Canada's biggest exchange, but it went bankrupt after its co-founder and CEO, Gerald Cotton, reportedly died while traveling in India during late 2018. When Cotton died, there were about $250 million Canadian dollars, $190 million dollars worth US or so, in crypto that was owed to about 115,000 customers. Even before Cotton went missing, according to Chainalysis, Quadriga never actually invested its customer funds into crypto. Effectively, they were using paper wallets in safety deposit boxes as their banking system.

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