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Death locks $140m cryptocurrency

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looks like canadas largest crypto exchange is in a pickle after the founder died suddenly at the ripe age of 30.. 140 million  dollars floating in limbo as no one knows the passwords to his computer or his acc,,,,,i wouldnt be happy if my coins where in his exchange company..

Source:https://www.bbc.com/news/world-us-canada-47123371

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Well that's nice lol . What a stupid owner was he ( may be rest in peace ) but by being an owner you should plan for every event that could happen to you at least tell the password to his children or family member.  Now I guess what they could do is ask kaspersky's owner to crack into it. 

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Two topics that come out of this incident worth discussing:

1. The concept of making a will about your crypto holdings before you die so that the next generation can get access to those.

2. Not leaving coins on exchanges after completing trades. Though people will never learn their lesson on this.

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I just read about that, it's rather...incredible that a company handling so much money didn't have a fail-safe procedure for accessing these cold wallets. Just a sad situation all around, for the customers left out in the cold and for Bitcoin adoption as a whole.

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This just goes to show how we need to start accounting for digital assets in our wills when we pass on. As we go into the future, digital assets will be more and more common, so it is of utmost importance to include them in our wills :)

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On 05/02/2019 at 18:52, UltraChief said:

 

 

2. Not leaving coins on exchanges after completing trades. Though people will never learn their lesson on this.

Well what can you say ? Exchanges require 2fa to withdraw ( Most of the exchanges i come across ) and that makes us lazy to do so we end up keeping it there. 

Also umm is there any update on the news ? Did they retrieve it somehow ? 

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Well as ultra said..  Never leave your coins in any third part...  I don't even understand why people leave their coins in such sites... 

There has been many cases of abuse and then what's the point?  If you buy coins to hold it ll be safer in cold storage,  if you buy coins to buy things or invest or anything just do it and keep the remaining on your wallet.

The only reason I can see to do so is if you actively trade coins... 

But this story isnt over yet...  I just googled. It and it appears that the owner updated his last will 12 days before his death..  But not to specify how to access to his laptop but just to give all his good to his wife... Including a jet ^^..  

And in what I've read about it  it appears that an audit has been made and experts didn't found any trace of transaction sending funds to cold storage but found some transaction done after owner death so that seems to be in contradiction with what the wife said claiming she didn't had the passworda and that all the business of her husband was done from the encrypted laptop.. 

And last but not least there's some rumours on the web saying that the owner fainted his death himself..  No clue of it obviously but 180 millions dollars is definitely something for what people could do anything 😉

I'll post the link of what I found later when I'll be home

Good day all

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On 05/02/2019 at 08:16, Kate said:

Well that's nice lol . What a stupid owner was he ( may be rest in peace ) but by being an owner you should plan for every event that could happen to you at least tell the password to his children or family member.  Now I guess what they could do is ask kaspersky's owner to crack into it. 

well, i think they can recover all the paaswords he user on his pc, and i dont think he didnt give the password or even his pvt key to any of his family :)

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On 05/02/2019 at 17:02, mikeoxlong said:

there is the small possibility that he faked his death and ran away with the money, people have done this before

He probably faked his death and have the wife siphon the money to him after 1-2 years.

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this is so stupid first time hear it happend for a company.

i know a friend who died in a car accident and he had like 8+ BTC when it was raising to 16k$ his family called me twice to if ik his acc pass or anything i can to help them recover the coins 

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