Crypto investors in a fix after exchange founder dies with their encrypted access worth $190m
The 30-year-old founder died in India, last December
Canada, Feb 06: Investors in QuadrigaCX, Canada’s largest cryptocurrency exchange are in a fix, after being unable to access their funds, which amounts to USD 190 million.
The reason behind them being unable to access the fund is reportedly the death of QuadrigaCX’s founder Gerald Cotton in December last year, apparently taking his encrypted access to their money with him.
The 30-year-old Cotten died of complications from Crohn’s disease in India, where ‘he was on a visit to build an orphanage for children in need’, according to the company.
The news of Cotton's death was followed by a decision from Canadian Imperial Bank of Commerce to freeze USD 28m worth of assets held by Quadriga citing it was ‘Unable to find identify the real owners of the funds’.
Robertson, who claim she was not involved in the business, has filed a court filing and has stated that there had been a “significant amount of commentary on Reddit and other web based platforms about Quadriga, Gerry’s death (including whether he is really dead) and missing coins”. She said she had also received threats and slanderous comments.
She also added in the filing that she has the access to Cotten’s laptop but is unable to open it owing to encryption of data. I do not know the password or recovery key. Despite repeated and diligent searches, I have not been able to find them written down anywhere.” She wrote to the court.
She has also hired an expert to decode the access, but he has so far failed to crack it.
The company on January 31, filed application for creditor protection in the Supreme Court of Nova Scotia. After delays of transaction.
At a court hearing on 5 February the company is seeking to appoint Ernst & Young as an independent monitor.
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Women BJP MLAs protest against opposition in UP assembly premises
Lucknow (PTI): Women BJP MLAs held a protest in the Vidhan Bhawan complex before the one-day special session of Uttar Pradesh assembly, slamming the opposition for defeating the passage of a bill, which would have led to implementation of the Women's Reservation Law, in the Lok Sabha.
This followed another demonstration by Samajwadi Party MLAs, who alleged that the BJP was misleading public in the name of women's reservation.
The women BJP legislators assembled in front of Chaudhary Charan Singh's statue in the assembly premises, holding banners inscribed with the slogan "Insult to Matrushakti (women's power), India will not tolerate it". The protesting members entered the main hall of Vidhan Bhawan carrying the banners.
Participating in the protest, the state Minister for Women Welfare and Child Development, Baby Rani Maurya, told reporters that all opposition parties, including the Samajwadi Party and the Congress, had opposed the women's reservation, a stance for which they would have to pay a heavy political price.
"On this issue, all of us women stand united. We will ensure that we secure our reservation," she said.
BJP MLA Ketki Singh remarked that their protest represents the collective outrage of millions of women across the state.
Singh asserted that the opposition has betrayed women by creating hurdles in the path of women's reservation. The current demonstration is merely the beginning, and very soon, women from every street, intersection and household will join the protest movement, she said.
Minister Vijaylakshmi Gautam said, "We strongly condemn the despicable act committed by the Samajwadi Party and the Congress in an attempt to hold back 'half the population' (women). Their action was directed against the very bill that Prime Minister Narendra Modi had introduced to empower and strengthen Nari Shakti (women's power), and which he strived to pass expeditiously."
Uttar Pradesh assembly is holding a one-day special session on Thursday. During the session, the government is set to move a censure motion against the opposition parties over their failure to pass the Constitution Amendment Bill, which would have led to implementation of the Women's Reservation Act, in the Lok Sabha.
