Crypto Company Loses $137M When The Guy With The Passwords Dies

How many times have you forgotten the password to your accounts? Have you ever written any of the passwords down so you won't forget? That probably would have helped this company.

There's a crypto company called QuadrigaCX from British Columbia, Canada and they manage about $137 million worth of their customers' digital cryptocurrency assets. Think of them as a stock market exchange. People invest their real money to buy, sell and trade currencies like Bitcoin. 

The problem is the founder of the company just died, which is sad, but it's even worse news for all of their investors because he was the only person in the world who knew the password to the hard drive that stored the money. So now nobody can access their money.

The guy's widow just filed for bankruptcy protection for the company until they can try to figure out some other way to decrypt everything and get the money back. However, clients seem to think this is one giant scam and the money is long gone. 

Charlie Munson

Charlie Munson

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