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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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