In the latest QuadrigaCX update, late CEO Gerald Cotten‘s spouse, Jennifer Robertson claimed that Cotten poured his own money into the exchange to fund user withdrawals in 2018.
According to a statement released by Robertson, honoring of the private funds took place in 2018 when QuadrigaCX had a legal dispute with the Canadian Imperial Bank of Commerce [CBIC]. This dispute led to a massive $21.6 million in funds being frozen. Although Robertson admitted having no direct knowledge of how her husband operated the now-defunct exchange, she said,
“I believe Gerry had the best interests of the business in mind and cared for his customers.”
The monitor appointed by the Canadian Court, Ernst & Young [EY], is however, yet to verify the genuineness of the claims stated by Robertson.
Previously this month, the wife of the deceased CEO had demanded reimbursement of the money spent on legal and managerial processes.
The CEO was allegedly the only person who had access to the passphrase for the cold wallets of the exchange. The Canada-based exchange, which is still under creditors’ protection, hasn’t been able to access the $190 million in crypto assets of Bitcoin, Bitcoin Cash, Bitcoin Cash SV, Bitcoin Gold, Ethereum, and Litecoin, after Cotten’s death.
A Canadian court had later granted QuadrigaCX, a 45-day extension to recover the missing crypto assets, accounting for nearly $190 million. The next hearing is scheduled for April 18, before which the creditors cannot charge the exchange legally.
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