A Major Bitcoin Exchange Has A Serious Problem–Here’s Why
Bitcoin and cryptocurrency exchange Quadriga, the largest crypto exchange in Canada, has said it’s lost access to millions of dollars worth of bitcoin and other cryptocurrencies after the exchange’s chief executive and co-founder died suddenly late last year—taking the passwords and recovery keys to computers with him.
Bitcoin and other cryptocurrencies valued at almost $200 million are now locked in a so-called cold storage wallet, leaving investors and users of the exchange unable to access their funds and whipping up fresh concerns about the future of digital currencies.
The bitcoin price, as well as the wider cryptocurrency market, has failed to react strongly to the reports, with the bitcoin price currently trading up by 1.5% over the last seven days, according to prices from Luxembourg-based exchange Bitstamp. ..Read More..