The Quadriga Saga Continues: Faked Death? Imaginary Money?

The Quadriga Saga Continues: Faked Death? Imaginary Money?

The wild tale of QuadrigaCX, its dead founder Gerald Cotten, and millions in irrecoverable Ether tokens just keeps getting stranger. At this point, almost every point in the previous sentence has been called into question, and all we can do is explain what various camps believe to be the truth of the matter. We may know the reality in time, or what actually happened to QuadrigaCX’s millions in ETH may never be publicly understood.

First of all, Gerald Cotten is said to have died in Jaipur, India. We say “said to have died”, because there seems to be a growing possibility that Cotten’s death was faked. Cotten was supposedly in India to build an orphanage. And while that would have been a nice thing for him to have done, it’s a strange thing to do while suffering the crippling effects of Crohn’s Disease, the illness that is said to have killed him.

ethereum tokens missing quadrigacx

Is it possible that the stolen funds from Canadian exchange QuadrigaCX never existed in the first place? Source: AlekseyIvanov/

Let’s leave this issue for a moment to point out that authorities also cannot locate the missing $190 million in ETH tokens. Some say it was sent to various exchanges in the months leading up to Cotten’s death. Others say it’s still sitting in one or more (unknown) wallets. Cotten’s widow claims that, due to her husband’s fastidiousness for security, there exists no record of the keys to these (unknown) wallets.

All of the above may be true: Cotten’s death by Crohns, truly terrible security standards that resulted in the loss of millions of investor’s Ether. However, any number of other possibilities might also be true. Though death by Crohns is entirely possible, it’s rarely a reality for someone with means. Jaipur might be sufficiently remote to stage an exit from this mortal coil, however. Ether today unseen may have been leaked out to various exchanges, sold long before it was missed.

There’s simply no telling at this time in history. Fortunately, this story has become an international narrative, one which the mainstream media is even commenting upon. And even as we speculate about the claims of QuadrigaCX and Gerald Cotten’s estate, this is an event that’s having real life impact on the wife of the late Mr. Cotten.

Cryptocurrency internet sleuths are working overtime to get to the bottom of this, and mainstream journalists and financial regulators are doing the same. If there’s something fishy going on, you can bet that someone will figure it out. At the very least, we hope investors find a way to recover their lost ETH.

Featured image: Stokkete/


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