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The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In Europe, Middle East and Africa, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for seven consecutive years. These partners are highlighted below and throughout the editorial.
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Israel > Legal Developments > Law firm and leading lawyer rankings

Editorial

Perhaps the QuadragaCX Story Will Have a Happy Ending

March 2019 - Finance. Legal Developments by Yigal Arnon & Co.

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While there are the aficionados who will say that cryptocurrencies will free us of the chains of the global financial institutions, on the occasions when the world of cryptocurrencies intersects with the world in which most of us live, the news is generally bleak. While you may not know one side of a Bitcoin from the other, you probably know that its value has crashed over the last 13 months, you may even have heard about some of some of the larger cryptohacks (that is computer heists through which digital currencies belonging to investors are stolen from crypto trading exchanges). And over the last week or so, you may have read on mainstream news sites about the death of Gerald Cotton the CEO of Canada’s largest cryptoexchange QuadragaCX. The death of the CEO of a company that few had previously heard of, was news of course, because in his passing he had taken the passwords to the accounts of his customers with him. The result of this being that about $140 million of their money was stuck somewhere between this world and the celestial ether in which Mr. Cotton now resides. Of course, it wasn’t quite told like that. We were fed terms such as “private keys,” lack of “multi-signature protection,” “cold storage wallets” and more readily understandable – “cryptofraud”. Again!

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