Quadriga filed for court protection from its creditors on 31
January 2019, following the unexpected death of its CEO and founder
Gerald Cotten, on 9 December 2018. The filing has resulted in
speculation that the death may have been a hoax, that significant
cryptocurrency or the means to access it have been lost, that
Quadriga's trading may have been inflated, as well as
creditor's claims in excess of CAD 260 million (USD 195
million) and further damage to the fledgling Blockchain
industry.
According to Canadian court filings, 0984750 B.C. Ltd was a
Canadian company that did business as QuadrigaCX or Quadriga Coin
Exchange (Quadriga), operating an online cryptocurrency exchange
platform in Canada. Quadriga was founded by Gerald Cotten and
launched on Boxing Day in 2013. In November 2018, Quadriga
estimated it processed between 60% to 90% of the volume of digital
currency exchange transactions in Canada.
