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CEO of QuadrigaCX Used Customer Funds to Set Up Fake Crypto Exchange Accounts

May Arjomand

Summary: In a report released on Wednesday, it was found that Gerald Cotten, QuadrigaCX’s late founder and CEO who passed away last December, transferred millions in crypto out of client accounts and into other exchanges. The funds were used for Cotten’s personal lifestyle and trading habits.  Between 2016 and 2018, Cotten transferred 9,450 bitcoin, 387,738 ethereum, ...

In a report released on Wednesday, it was found that Gerald Cotten, QuadrigaCX’s late founder and CEO who passed away last December, transferred millions in crypto out of client accounts and into other exchanges. The funds were used for Cotten’s personal lifestyle and trading habits. 

Between 2016 and 2018, Cotten transferred 9,450 bitcoin, 387,738 ethereum, and 239,020 litecoin out of his exchange’s accounts. 

Author: May Arjomand

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