The story of Quadriga CX Exchange. What you think happened?

In 2018, a Canadian cryptocurrency exchange called QuadrigaCX made headlines for an unbelievable and tragic reason. The exchange's founder and CEO, Gerald Cotten, passed away suddenly while traveling in India, taking with him the passwords and access keys to the platform's cold wallets, which held around $190 million worth of cryptocurrencies belonging to its users.

This crypto saga took a bizarre twist when it was revealed that Cotten had not shared the necessary information with anyone else in the company. As a result, the funds became inaccessible, and QuadrigaCX filed for bankruptcy. The incident led to suspicions of foul play, conspiracy theories, and even rumors that Cotten had faked his own death to abscond with the funds.

The QuadrigaCX case underscores the importance of secure storage practices and the unique challenges and risks associated with cryptocurrencies, leaving many investors wary of entrusting their assets to exchanges.