ePassporte-like scam results in $190mill loss - GoFuckYourself.com

Ferus · 02-04-2019, 11:00 AM

https://www.theguardian.com/technolo...-gerald-cotten

About $190m in cryptocurrency has been locked away in a online black hole after the founder of a currency exchange died, apparently taking his encrypted access to their money with him.

Investors in QuadrigaCX, Canada’s largest cryptocurrency exchange, were unable to access their funds after its founder, Gerald Cotten, died last year.

According to a court filing first reported by CoinDesk, a cryptocurrency news and events company, Jennifer Robertson, identified as Cotten’s widow, said the exchange owes its customers roughly C$250m (US$190m) in cash and cryptocurrency held in its “cold storage”.

“Quadriga’s inventory of cryptocurrency has become unavailable and some of it may be lost,” Robertson wrote in the filing.

Cotten, 30, died in India last December from complications from Crohn’s disease, according to the company. He was in India “opening an orphanage to provide a home and safe refuge for children in need”.

Bullshit

Klen · 02-04-2019, 11:03 AM

Almost every day some exchange get "hacked"

Oracle Porn · 02-04-2019, 11:23 AM

faking your death in india is possible for a few thousand dollars

congrats to the winners

Ferus · 02-04-2019, 11:42 AM

Quote:

Originally Posted by Oracle Porn

faking your death in india is possible for a few thousand dollars

congrats to the winners

Or the wife could have him killed for even less.

pimpmaster9000 · 02-04-2019, 11:48 AM

they will easily see if the coins move or not...if the coins never move then they are really in a black hole...it is amazing that the dude did not make some sort of fail safe...he could write a simple script where he would need to answer an email with a code every say 30 days...and he would get reminders etc and if he does not send the code in 60 days the script sends the key to somebody...

or the coins will move and the money will be in motion

Matt 26z · 02-05-2019, 07:33 AM

"$190m in cryptocurrency"

Even if they open it back up who is going to buy it so that existing holders can cash out?

jscott · 02-05-2019, 08:03 AM

sucks for those who lost, another reminder to not store crypto on exchanges

btw, supposedly some Litecoin have already been moved

seeandsee · 02-05-2019, 08:17 AM

:dead: and money on safe

celandina · 02-05-2019, 10:28 AM

BTW after all this hype last year what is BTC at today ?

jscott · 02-05-2019, 10:30 AM

Quote:

Originally Posted by celandina

BTW after all this hype last year what is BTC at today ?

Google , thank me later

Mr.Fiction · 02-06-2019, 02:48 AM

Quote:

Originally Posted by crucifissio

they will easily see if the coins move or not...if the coins never move then they are really in a black hole...it is amazing that the dude did not make some sort of fail safe...he could write a simple script where he would need to answer an email with a code every say 30 days...and he would get reminders etc and if he does not send the code in 60 days the script sends the key to somebody...

or the coins will move and the money will be in motion

Is there a schematic for this system? Wouldn't the script be vulnerable to hacking?

AdultKing · 02-06-2019, 02:52 AM

I predict the coins will move, from everything I have read on this the whole story smells.

pimpmaster9000 · 02-06-2019, 03:01 AM

Quote:

Originally Posted by Mr.Fiction

Is there a schematic for this system? Wouldn't the script be vulnerable to hacking?

no not really...but split the wallet key in to 3 parts and encrypt each and give the enctyption keys to 3 different people...the hacker would have to know:

1) that such a key exists
2) exactly what the encrypted bundle of data is
3) exactly what server it is on out of the millions of servers just on amazon for example
4) he would have to be good at de-crypting data he does not know what the fuck it is or whether its worth the time because I would put in like 10000000 random encrypted files...good luck with that LOL

celandina · 02-06-2019, 11:00 AM

Quote:

Originally Posted by Oracle Porn

faking your death in india is possible for a few thousand dollars

congrats to the winners

adultchatpay · 02-10-2019, 04:10 AM

He is now enjoying the 190M.

jscott · 02-10-2019, 04:30 AM

Quote:

Originally Posted by adultchatpay

He is now enjoying the 190M.

well it's worth over +$200Mn now, so he got a lil bump. Ballsy move by Cotton, he gonna be on the run for life now though

02-04-2019, 11:00 AM	#1
Ferus Bye - Left to do stuff Industry Role: Join Date: Feb 2013 Posts: 4,110	ePassporte-like scam results in $190mill loss https://www.theguardian.com/technolo...-gerald-cotten About $190m in cryptocurrency has been locked away in a online black hole after the founder of a currency exchange died, apparently taking his encrypted access to their money with him. Investors in QuadrigaCX, Canada’s largest cryptocurrency exchange, were unable to access their funds after its founder, Gerald Cotten, died last year. According to a court filing first reported by CoinDesk, a cryptocurrency news and events company, Jennifer Robertson, identified as Cotten’s widow, said the exchange owes its customers roughly C$250m (US$190m) in cash and cryptocurrency held in its “cold storage”. “Quadriga’s inventory of cryptocurrency has become unavailable and some of it may be lost,” Robertson wrote in the filing. Cotten, 30, died in India last December from complications from Crohn’s disease, according to the company. He was in India “opening an orphanage to provide a home and safe refuge for children in need”. Bullshit

02-04-2019, 11:03 AM	#2
Klen Industry Role: Join Date: Aug 2006 Location: Little Vienna Posts: 32,234	Almost every day some exchange get "hacked" __________________ For GFY administration inquiries- email info at gfy.com or send PM. For advertising inquiries - email marketing at gfy.com Inquiries which are not related to administration or advertising on GFY wont be processed.

02-04-2019, 11:23 AM	#3
Oracle Porn Affiliate Industry Role: Join Date: Oct 2002 Location: Icq: 94-399-723 Posts: 24,431	faking your death in india is possible for a few thousand dollars congrats to the winners __________________

02-04-2019, 11:48 AM	#5
pimpmaster9000 Too lazy to set a custom title Industry Role: Join Date: Dec 2011 Posts: 26,732	they will easily see if the coins move or not...if the coins never move then they are really in a black hole...it is amazing that the dude did not make some sort of fail safe...he could write a simple script where he would need to answer an email with a code every say 30 days...and he would get reminders etc and if he does not send the code in 60 days the script sends the key to somebody... or the coins will move and the money will be in motion __________________ Report a suspicious cracker: Click Here

02-05-2019, 08:03 AM	#7
jscott jscizzle Industry Role: Join Date: Feb 2001 Location: Taipei Posts: 23,076	sucks for those who lost, another reminder to not store crypto on exchanges btw, supposedly some Litecoin have already been moved __________________ “If you think tough men are dangerous, wait until you see what weak men are capable of.” —Jordan B. Peterson Listen to Pomp tell why is Bitcoin important

02-05-2019, 07:33 AM	#6
Matt 26z So Fucking Banned Industry Role: Join Date: Apr 2002 Location: ¤ª"˜¨๑۩۞۩๑¨˜"ª¤ Posts: 18,481	"$190m in cryptocurrency" Even if they open it back up who is going to buy it so that existing holders can cash out?

02-05-2019, 08:17 AM	#8
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	:dead: and money on safe __________________ BUY MY SIG - 50$/Year Contact here

02-05-2019, 10:28 AM	#9
celandina Too lazy to set a custom title Industry Role: Join Date: Jun 2006 Posts: 10,833	BTW after all this hype last year what is BTC at today ?

02-06-2019, 02:52 AM	#12
AdultKing Raise Your Weapon Industry Role: Join Date: Jun 2003 Location: Outback Australia Posts: 15,602	I predict the coins will move, from everything I have read on this the whole story smells.

02-10-2019, 04:10 AM	#15
adultchatpay Let's Make Money Industry Role: Join Date: Dec 2008 Posts: 8,784	He is now enjoying the 190M.