Gerald Cotten, the late co-founder of Canada’s largest digital currency exchange QuadrigaCX, had filed his last will and testament 12 days prior to his alleged death, Bloomberg reported February 6.
According to recent court documents obtained by Bloomberg, Cotten inked his will on November 27, 2018, with his wife Jennifer Robertson as the sole beneficiary of all his assets, allowing her to assume absolute control over his estate.
As detailed in the will, Robertson will inherit multiple real estates in Nova Scotia, where the widow is currently domiciled, and in Kelowna, British Columbia, on top of other assets, including an airplane, a Lexus, and a Jeanneau 51 yacht.
Since Cotten reportedly passed away on December 9 due to complications from Crohn’s disease, the Canadian crypto trading platform QuadrigaCX has faced a series of financial setbacks.
As indicated in an affidavit filed by Robertson in January, Cotten was purportedly the only person who had access to QuadrigaCX’s cold wallets where user funds are stored, leaving over 100,000 customers locked out from their own accounts, resulting in the loss of roughly $190 million in both fiat and digital currency.
While several QuadrigaCX users have reportedly initiated legal proceedings against the exchange in an attempt to recover their funds, the exchange was subsequently granted 30-day creditor protection following Cotten’s sudden death, to mitigate any potential class action suits.
Cotten’s purported passing has since sparked contention among the crypto community, with some speculating foul play, alleging that the CEO forged his death to pull an exit scam. However, a death certificate issued by the Government of Rajasthan’s Directorate of Economics and Statistics later emerged, verifying Cotten’s death.
As CBC News reported February 5, a court-ordered lawyer will be taking over Cotten’s encrypted laptop in which the crypto reserves are allegedly held. Furthermore, QuadrigaCX’s legal representatives are currently looking into liquidating the remainder of the exchange’s assets to settle outstanding debts, as disclosed in a previous court hearing.