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Is the Dead CEO Story Fake? Evidence Is Mounting That QuadrigaCX Pulled Off Massive Exit Scam

  • Alex Morris
    📰 News

    Don’t ask us to take off our tin foil hats! There are multiple allegations that QuadrigaCX might have played us all


Is the Dead CEO Story Fake? Evidence Is Mounting That QuadrigaCX Pulled Off Massive Exit Scam
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QuadrigaCX, one of Canada’s most popular cryptocurrency exchanges, appears to be in a serious predicament — its customers can’t get access to $190 mln worth of crypto after its CEO, Gerald Cotton, unexpectedly died from Crohn's disease in India. Cotton was the only person who had access to the virtual keys to the exchange’s cold wallets, and many people suspect that the whole thing could be a huge exit scam.   

Is he really dead?

The unfortunate death of the Canadian crypto CEO might not have even happened at all. Multiple scam allegations are picking up steam after the news spread like wildfire across numerous news outlets.

However, Freddie Heartline, one of QuadrigaCX’s very first customers, who also happens to be Cotton’s longtime friend, believes that these accusations do not have any substance. He claims that Cotton was ‘a really nice guy’ who wouldn’t be able to pull off an exit scam.       

Is the Dead CEO Story Fake? Evidence Is Mounting That QuadrigaCX Pulled Off Massive Exit Scam

The CEO’s widowed wife Jennifer Robertson revealed that she received multiple death threats from disgruntled customers. Cotton’s will was yet another log on the fire given that it was signed two weeks prior to his ‘unexpected’ demise with (you guessed it) Robertson being the sole executor. The alleged death certificate didn’t cool down the exchange’s users, who think that it is bogus. Notably, the certificate was issued in Nova Scotia, not India.
Is the Dead CEO Story Fake? Evidence Is Mounting That QuadrigaCX Pulled Off Massive Exit Scam

It is also worth mentioning that several outgoing transactions have been detected after Cotton’s death, which took place on Dec. 9, 2018. Obviously, that doesn’t fit the narrative.   

On Oct. 29, U.Today also reported about another Canadian exchange, MapleChange, facing the wrath of its users after an unexpected hacking attack gave ground to suspicions about a potential exit scam.

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QuadrigaCX is currently seeking creditor protection to prevent any lawsuits from disgruntled customers. The court hearing will take place on Feb. 5.

Cover image via u.today
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It Would Take Several Seconds to Hack Every Cryptocurrency in the Nearest Future


It Would Take Several Seconds to Hack Every Cryptocurrency in the Nearest Future
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Blockchain is commonly known as an immutable ledger that is impossible to hack, but there is always a looming threat of quantum computers. HCASH Chief Scientist Dr Joseph Liu, who claims that every single cryptocurrency can be hacked in a matter of seconds, has come up with his own coin that won’t be threatened by quantum hackers.

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The inevitable quantum takeover     

Quantum computers are generally considered to be the Achilles’ heel of Blockchain-based cryptocurrencies, including Bitcoin. IBM has already announced its first quantum computer with Google and Intel also working in that direction in 2019.


IOTA, which is powered by DAG dubbed ‘Tangle’, is considered to be the only quantum-proof cryptocurrency on the market, but there could be yet another option – Hypercash that recently presented its post-quantum secure Ring CT protocol.    

‘If you want to use this computer to break the … normal security, it’ll take maybe 500 years to break the system. If you use a quantum computer, maybe several seconds. Hcash is trying to provide security, even in the existence of this future computer,’ – he claims during a recent interview.

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A precursor to Monero     

The aforementioned quantum-resistance cryptocurrency is based on Liu’s research paper about a ‘linkable ring signature.’  Fun fact: that paper, which was published back in 2014, was used by the creators of Monero as the basis for the flagship privacy coin.

The Ring Confidential Transaction (RingCT) allows having an external verifier without exposing who that verifier is. Liu didn’t expect the coin to produce any significant impact, but now he is eager to improve the protocol of the billion dollar currency without getting any financial gains.

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High hopes for Blockchain

Despite his gloomy prediction about the quantum takeover, Liu is still certain that the future of Blockchain is bright. He is certain that there will be an increasing number of Blockchain-related jobs that will be coupled with growing academic interest in cryptography. There is will be many use cases of Blockchain technology in different spheres of our life.

Cover image via www.123rf.com
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