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from the Sitting-on-the-beach,-earning-20%? dept.
Following on from an earlier story about the Canadian Crypto exchange whose owner died under suspicious circumstances with the keys to $137m of customers' assets, Business Insider Australia reports that some progress has been made[*] Spoiler alert: the funds are all gone.
The case has sparked numerous theories, including that he faked his own death and ran off with the cash.
However, court-appointed auditor Ernst & Young was able to crack Cotten's laptop. What they found, according to an EY report dated March 1, the accounts had been emptied in April 2018, eight months before his death.[*]
[* Ed.'s Update/Correction -- FP]
[...] A court-appointed auditor, Ernst & Young, has secured Cotten’s laptop, home computer, USB keys and home computer. Using public blockchain records, it determined the digital wallets thought to contain millions were emptied in April, eight months before his death [...]
I'm shocked, I tell you. Shocked.
(Score: 2, Insightful) by Anonymous Coward on Thursday March 07 2019, @03:06AM (3 children)
No matter what the answer to that is, yet another exchange's money is stolen. People should stop using those unregulated, uninsured exchanges. Isn't it amazing that people, who were trying to build a currency that frees them from the society, are carrying their monies to exchanges that are set up by the shadier members of the society?
(Score: 0) by Anonymous Coward on Thursday March 07 2019, @03:11AM
It is still better than dealing with the kyc (or whatever) rules, the site getting hacked, and then getting your identity stolen for most people. Also, corporations are way more scammy than the "shadier members of society" you refer to.
(Score: 3, Funny) by Anonymous Coward on Thursday March 07 2019, @04:28AM
You ever met someone who works on Wall Street? You'd be better off wearing a fava bean necklace to a Chianti party.
(Score: 1) by khallow on Thursday March 07 2019, @03:19PM
Why? It's not like it's relevant to society whether a small portion is taking such risks. My view is that unregulated markets serve a number of vital roles in society. First, here as a lesson to the rest of us. One can't begin to accurately describe fraud without examples of it. Such unregulated markets are likely to be the first places for sophisticated new scams and deception techniques to be employed. Second, it allows us to rout around damage. For example, if a country screws up its currency with hyperinflation, then cryptocurrencies become a handy backup to enable trade to continue.