Over 600,000 Ethereum belonging to crypto exchange QuadrigaCX has been found, according to reports.
Recently, Coin Rivet reported on the death of QuadrigaCX CEO Gerald Cotten, who passed away after complications from Crohn’s disease while he was travelling in India.
Cotten was reportedly the only person at QuadrigaCX who had the private keys to access the exchange’s funds. It is believed that around $190 million worth of funds had been lost as a result of the incident.
However, in a remarkable turn of events, it appears over 600,000 Ethereum tokens reportedly belonging to QuadrigaCX have been found.
The report reveals that a total of 649,708 Ethereum had been sent to Kraken, Bitfinex, and Poloniex directly from QuadrigaCX.
This totalled $100,490,150 at the time of the transfers. The report details how the Ethereum was sent to 12 wallet addresses – none of which appear to be customer wallet addresses.
The report suggests that Cotten’s widow Jenifer Robertson and any other related individuals did not know that Cotten had sent the funds to the exchanges.
The final transfers were sent on December 8th, 2019 – just one day before Gerald Cotten passed away.
Even more remarkable is that Kraken had offered a $100,000 reward for the discovery of the missing QuadrigaCX coins when it itself appears to have been sent 82,248 Ethereum worth $16,051,305 at the time of transfer.
Bitfinex received 239,240 Ethereum, while Poloniex received 326,220 Ethereum.
The report speculates that Gerald Cotten had been using other exchanges as QuadrigaCX’s cold storage solution.
It also suggests that because wallet activity ceased after Cotten’s death, he was in sole control of the wallets.
Interested in reading more about the QuadrigaCX story? Discover how $190 million worth of customers’ funds was locked away in cold storage.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.