back to article While this CEO may be stiff, his customers are rather stuffed: Quadriga wallets finally cracked open – nothing inside

When Gerald Cotten, CEO of Canadian cryptocurrency exchange QuadrigaCX, died late last year, we were told no one at his company knew how to access the offline digital wallets storing his customers' digital dosh. These "cold wallets," the biz said last month, "are highly encrypted and were kept off the QuadrigaCX server for …

  1. Anonymous Coward
    Anonymous Coward

    I spent all that time and all that electricity and all the money for inflated pricing on graphics cards and all I got was this file folder on a server with nothing in it.

    1. Anonymous Coward
      Anonymous Coward

      I spent all that time

      and a t-shirt, at own expense.

    2. Anonymous Coward
      Anonymous Coward

      " for inflated pricing on graphics cards"

      LOL. On a happier note, I paid $135 U.S. for a brand new RX580 graphics adapter yesterday. Thats about 1/3 of the price of a year ago, and only $30 less than when I was looking at the same card two years ago.

  2. Christoph Silver badge

    "the sixth was emptied in December 2018."

    "Cotten died while traveling through Jaipur on December 9"

    Why is there no mention of what date in December the sixth wallet was emptied? Whether it was before or after the 9th is rather critical. If it was after then either someone else had the key codes or the death was faked.

    1. Anonymous Coward
      Anonymous Coward

      Yes, is there some coroner in Jaipur walking around with some extra coin in their pocket after having signed off on a fake death certificate? The coincidence is just too big to not at least be considered.

      1. Mark 85 Silver badge

        So somewhere over in India or some other place is a guy named Jim Bob who looks like Gerald Cotton and who now is sitting back and enjoying his riches. As long as he stays out of the public eye, away from anyone who knew him, and has ensured that a certain coroner keeps his mouth shut, all will be well.

        Then again, that could just be fiction and the guy really died but the money was taken by someone else on the inside of the operation.

        My question is if the wallets were securely encrypted, how do the auditors know what is in them?

        1. This post has been deleted by its author

        2. doublelayer Silver badge

          "if the wallets were securely encrypted, how do the auditors know what is in them?"

          Bitcoin is public, so you can read all transactions associated with a wallet if you have the ID of that wallet. The key to access the wallet would be the encrypted thing. Therefore, you could see how much was in each wallet but you couldn't spend any of it without breaking the encryption. I'm glad to see that this company is knowledgable enough to figure this out without, you know, waiting three months for some external auditor to do something so simple for them. It really helps my estimation of their competence and trustworthiness.

          1. steelpillow Silver badge

            " waiting for some external auditor to do something"

            Ernst and Young are external auditors. It's what they do.

            1. Wilco

              waiting for some external auditor to do something"

              Ernst and Young are external auditors. It's what they do.

              steelpillow, meet sarcasm. Sarcasm, steelpillow

            2. Jamie Jones Silver badge

              His point was that the cryptoexchange should have known this basic fact...

              1. LDS Silver badge

                Maybe they did, but why hasten the knowledge of it? Sometimes, all you need to buy is time...

                1. Jamie Jones Silver badge
                  Thumb Up

                  Good point! I'm far too trusting!

        3. LucreLout Silver badge

          So somewhere over in India or some other place is a guy named Jim Bob who looks like Gerald Cotton and who now is sitting back and enjoying his riches.

          It'd not be the first fake death fraud. Given the wallets are empty, it was either the dying stages of a pyramid fraud, or its a fake death fraud. I'd expect the merry widow will be watched closely for at least the next decade though, as if she drops off the radar then it becomes more possible that she's in on it rather than simply another victim of any deceit that may have happened.

          As long as he stays out of the public eye, away from anyone who knew him

          Easy to do in the short term, but considerably harder in the longer term. I've bumped into people I used to know all over the world, and in some very out of the way places. I imagine that if this is a scam, a new face will be high on Cottons agenda.

          ensured that a certain coroner keeps his mouth shut

          The coroner will always be the primary weak link in the fraud, if there is one. He should possibly be very careful crossing the road.

          Then again, that could just be fiction and the guy really died but the money was taken by someone else on the inside of the operation.

          Indeed - I'd be interested in seeing a full timeline of events from the auditor. Though I'd have expected if someone else was involved and not Cotton, that he'd have noticed the money being stolen as far back as April 18, given he didn't die until much later.

          My question is if the wallets were securely encrypted, how do the auditors know what is in them?

          I'm guessing the keys were on the laptop and the laptop has now been broken into by whomever the auditor tasked with same.

      2. DontFeedTheTrolls
        Terminator

        If you're going to steal $180million and fake your death to cover it up you've got to come up with a really good death. Blowing up the Nakatomi Plaza comes to mind.

        1. LDS Silver badge

          Why? That will trigger a lot of immediate big investigations - and you may leave too many evidences around.

          An inconspicuous death is all you need - as nobody would mind to investigate, the less person involved the better, no need of "special items" like weapons or explosives harder to get while can leave too many traces, and you'll have more time to disappear and cover your tracks.

          Grandstanding criminals are easier to catch - they could be useful for blockbuster movies, though....

    2. diodesign (Written by Reg staff) Silver badge

      "Why is there no mention of what date in December the sixth wallet was emptied?"

      Just an oversight on our part, it's in the linked-to report - it was December 3. Added that in now.

      C.

    3. Anonymous Coward
      Anonymous Coward

      "adding that the last transaction in the sixth wallet occurred on December 3, 2018 and its current balance is zero."

    4. steviebuk Silver badge

      It's possible, if he's faked his death and from reading the report it sounds quite plausible he has, he'll have emptied them before his death so as not to flag that they were emptied after his death.

      Could this almost be the perfect heist. Stealing cryptocurrency that will be harder to trace than real money and which he can then attempt to "clean" through trades with other people wanting to "clean" theirs?

      This will be interesting to watch.

      1. BebopWeBop Silver badge

        Up to a point. Nicking the whole lot does put a ;lot of pressure on both the authorities who certified his death and those looking for the missing moolah. Maybe greed - grabbing such a lot of money (and there appears to be an enormous amount missing in the report) might prove to have been a greedy error.

        1. M.V. Lipvig

          The authorities would be in India, and there's not going to be any penalty for this. All the coroner has to say is the guy looked like the passport picture, and now he's been either cremated or sent down the Ganges. There isn't going to be a body, and there isn't going to be a paper trail. He probably converted to gold, then cash so the money can no longer be tracked, and is either growing a beard (or shaved it off) or is sitting in Thailand waiting for the surgery to heal. For that matter, he may even be a she now.

          So far as his wife goes, she may not have known. If she disappears in the next year or remarries a rich guy with about 180MM, then she was in on it.

      2. Captain Scarlet Silver badge

        This sounds like a plot for Columbo, if more people die then Murder She Wrote where a the Widdow probably is a good friend of Jessica from years ago.

        1. Scroticus Canis
          Happy

          Now your showing your age!

          Damn! I remember them too :(

    5. Robert Carnegie Silver badge

      I assume a body was produced and identified but I haven't checked details. But this is reported as medically caused (which could be faked, yeah), not missing at sea or unrecognizably disfigured (faceless) corpse.

      A current BBC radio melodrama serial "Blackwater" has an amnesiac Irish woman returning to family home in present day having been believed dead due to teenaged faceless corpse in party dress being found in river ten years earlier and a week after disappearance. (xvqanccrq ol tlcfvrf) Point repeatedly returned to of why no DNA test on body. Reason, costs money, also, mother's husband was not actual father of missing girl, senior local policeman was. Still pretty unbelievable More at:

      https://www.bbc.co.uk/programmes/m0001x8d/episodes/player

      In crypto case, slight possibility that what was buried was coffin full of potatoes, we will find out if they come up this autumn. Cremation unlikely due to unmistakable delicious smell of roast potato during memorial service.

    6. jimbo60

      It is mentioned, December 3.

    7. 080

      "Why is there no mention of what date in December the sixth wallet was emptied? "

      Yes there is, the 3rd December

  3. Will Godfrey Silver badge
    Facepalm

    Remind me

    Wasn't this bitcoin stuff supposed to be so secure that it was bomb-proof?

    It's beginning to look like it wasn't, if people can get in without the passwords only one person was supposed to have known.

    It also seems it's not embezzlement proof.

    1. Sorry that handle is already taken. Silver badge

      Re: Remind me

      Bitcoin, like most kleptocurrencies, is entirely transparent as far as the funds associated with each public key. Presumably they needed access to the wallet file to confirm those public keys, at which point they could check how many dunning-krugerrands the wallet contained, but you only need to know the private key if you want to move the funds.

      But we're supposed to believe that this guy went to India to help set up an orphanage (what an angel!) for an organisation that doesn't require donors to do anything beyond donate money, in a state that apparently has a reputation for its fake death certificate industry, then died of a manageable chronic disease and was immediately cremated? Okay then.

      1. Doctor Syntax Silver badge

        Re: Remind me

        "dunning-krugerrands"

        Well played, sir.

    2. DougS Silver badge

      Re: Remind me

      Who says someone else got in? Probably the founder stole it, and depending on which sort of conspiracy theory you prefer he either:

      1) faked his own death and is living the high life under a new identity

      2) was murdered by someone trying to steal his ill gotten gains

      3) was murdered by someone for stealing their ill gotten gains

      4) died of a drug overdose because $190 million buys a lot of drugs

      1. Anonymous Coward
        Anonymous Coward

        Re: Remind me

        Those strike me as the most logical ones, but for the sake of completeness, let's add these possibilities too:

        5. Someone else forced him to transfer the funds and then killed him.

        6. Someone else obtained the keys because he wasn't so competent after all, and stole all the money. Then, he either died of something unrelated or committed suicide after realizing there was no way for him to repay that.

        7. One of the people currently running the business stole the money and arranged for the death metadata to suit them (for example, getting a post-dated death certificate after he died naturally or arranging the death), and are setting this up to slowly blame him such that everyone wants to find him and cannot while they escape.

        Whatever happened, the people running this business were extremely negligent, and their creditors have every right to be extremely angry. When the courts stop giving them extensions, I am confident that lawyers will quickly make this point.

        1. M.V. Lipvig

          Re: Remind me

          And the lawyers sue a dead company and none of the employees pay a penny since they weren't in charge and the boss, who took sole responsibility, is dead. The employees can't be held accountable for a boss, the guy who signs the paychecks, telling them that he would be the only one with access.

      2. Anonymous Coward
        Anonymous Coward

        Re: Remind me

        8) in the process of managing the exchange, someone lost significant funds during transactions and currency fluctuations. i.e. they either weren't very good at running the exchange or didn't realise they weren't good at it until too late

        Unfortunately, none of these options helps.those that lost money

        1. Mark 85 Silver badge

          Re: Remind me

          8) in the process of managing the exchange, someone lost significant funds during transactions and currency fluctuations Isn't the "Uncle Quido" theory? The "Mafia plays Hardball" also comes to mind.

          1. Anonymous Coward
            Anonymous Coward

            Re: Remind me

            "8) in the process of managing the exchange, someone lost significant funds during transactions and currency fluctuations Isn't the "Uncle Quido" theory? The "Mafia plays Hardball" also comes to mind."

            I was just trying to distinguish between deliberate fraud and a failed business plan.

            Often in investment fraud cases, the intent to defraud isn't present, but the result is indistinguishable i.e. when the losses are discovered, attempts are made to make up for the losses with ever riskier investment strategies eventually resulting in investor alarm and attempts to withdraw their money and the investment company vanishing.

        2. NightFox

          Re: Remind me

          9) Died of totally unrelated causes as approximately 150,000 people do every day.

          1. DougS Silver badge

            Re: Remind me

            That theory doesn't explain why all the wallets were empty. If he had the only key, he must have emptied them before he died. Even if he died of natural causes, he must have stolen the money first, and while 150,000 may die of "normal" causes every day, most of them are far older.

            1. Doctor Syntax Silver badge

              Re: Remind me

              "most of them are far older"

              And in far less suspicious circumstances.

        3. phuzz Silver badge

          Re: Remind me

          8) in the process of managing the exchange, someone lost significant funds

          You're saying they were incompetent? I'm shocked! Shocked I tell you!

          Well, a bit shocked.

          Actually, really not that shocked at all. In fact, it should have been my first assumption.

      3. Anonymous Coward
        Anonymous Coward

        Re: Remind me

        when we discussed the options in-house a couple of days ago, another one was suggested: some of his customers (Russian / Chinese / any other mafia), at some point in 2018, were not happy to find out their funds became "temporarily unavailable", and decided to take the matters into their own hands.

        But the winning theory is, obviously: He went to India, died there, no password, funny-money gone.Right. (I'm sure there's already been several scripts on the subject, pushed towards netflix, rather than hollywood, these days. So, expect a spat of more or less crappy films "based on true events", etc.)

    3. Mark 85 Silver badge

      Re: Remind me

      It also seems it's not embezzlement proof.

      Is anything embezzlement proof? Using the "word" proof like "bomb proof" "break proof", etc. doesn't mean it can't be broken into. Still this has the feel that it was an inside job now the date of the last transaction was just a few days before the guy allegedly died. I use the term allegedly as no one mentioned in any article ever saw his body.

      1. Doctor Syntax Silver badge

        Re: Remind me

        "I use the term allegedly as no one mentioned in any article ever saw his body."

        Either way, he's not going to be able to sue you.

  4. Anonymous Coward
    Anonymous Coward

    Come on guys, this is INNOVATION

    The allegedly late Mr Cotten seems to have invented fractional reserve banking.

    1. Anonymous Coward
      Anonymous Coward

      Re: Come on guys, this is INNOVATION

      "The allegedly late Mr Cotten seems to have invented fractional reserve banking."

      How can that be? Surely he hasn't got a banking licence?

      [but other than that, yes, this does demonstrate that banking is nothing without confidence]

      1. Andy The Hat Silver badge

        Re: Come on guys, this is INNOVATION

        "Fractional reserve banking"

        Thank you for your deposit. Here's one eighth in interest for you, three quarters for me, one quarter for the system. "Look punters - that one eighth is interest you could earn ..." Thank you Sir, one eighth for you, three quarters for me one eighth for the system ... ad infinitum

        Which is all well and good until Mr Punter O'Mafia asks for all his money which is secured in "special, not on the books, non-liquid assets" - the Mercs, the BMWs, the three villas, two yachts, the contents of Mrs O'Scammer's jewellery box, a long list of excess cocktail bar bills in Monaco, an ex-Maharajah's palace in India called "Orphanage" ...

    2. Robert 22

      Re: Come on guys, this is INNOVATION

      It must also be said that his measures were VERY effective.

  5. Anonymous Coward
    Anonymous Coward

    To apocryphally quote Mr Twain

    Rumours of this chap's death have been greatly exaggerated, haven't they?

    Problem is, it's only a matter of time before someone will want to make sure he's dead.

    After beating the passwords out of him, that is.

    1. Sorry that handle is already taken. Silver badge

      Obligatory etc.

      After beating the passwords out of him, that is.

      The security problem that Proof of Waste doesn't ever solve, https://xkcd.com/538/.

  6. Sebastian A

    He exit-scammed all the way off the mortal plane!

    1. mevets

      A plane....

      falling out of helicopters is the traditional Canadian fake death: https://en.wikipedia.org/wiki/Bre-X

      1. Rich 11 Silver badge

        Re: A plane....

        A canoeing accident is cheaper.

      2. FrogsAndChips Bronze badge

        Re: A plane....

        There's also the option of requesting a new dust filter for your Hoover Max Extract 60 Pressure Pro.

      3. RobThBay

        Re: A plane....

        "...Busang's gold resource was estimated by Bre-X's independent consulting company, Kilborn Engineering (a division of SNC-Lavalin of Montreal), to be..."

        Interesting that SNC was involved in shady stuff back then. Not surprising when you consider the legal mess SNC is in these days.

  7. Anonymous Coward
    Anonymous Coward

    So no one here will be suprised if this guy turns up alive

    But do you think he or the people that emptied his accounts (and possibly bumped him off) covered their tracks well enough to hide from blockchain analysis?

    This reeked of fraud from the start, doubly so in the absence of a body, but the people that try these heists often underestimate the ways to get caught or have things to go sideways.

    1. Sorry that handle is already taken. Silver badge

      Re: So no one here will be suprised if this guy turns up alive

      As somebody elsewhere suggested, turn up at his wife's house in a few years and he'll probably answer the door...

  8. Doctor Syntax Silver badge

    The EY report also notes that the auditors have not found any formal financial records held by the company. To date, the outfit has been "unable to locate or provide any such records."

    I don't suppose it had many employees but did none of them consider that a bit strange? Or even worrying?

    1. Sorry that handle is already taken. Silver badge

      None of this is out of the ordinary when it comes to bitcoin.

      1. Doctor Syntax Silver badge

        If you're an employee it should still be worrying. Even if you got your cut it should be worrying when you're left carrying the can.

        1. Sorry that handle is already taken. Silver badge

          I agree, but I suspect the person who willingly submits a job application to a "cryptocurrency" company is already likely to be a cultist.

    2. Ole Juul Silver badge

      They looked shady a long time ago

      I was interested in Quadringa a couple of years ago and registered an account on-line with them. I noted they originally had an "office" in a decent part of town, but that they had moved to another area. Since I was going to be in Vancouver, I thought that I'd just drop by their office to validate my account before I did any actual transactions with them. It turns out their address led to a small postal box outlet and there was no office at all. At that point my confidence in them dropped like a stone.

  9. Doctor Syntax Silver badge

    "Quadriga wallets finally cracked open"

    Password guessed as "So long suckers"?

  10. Anonymous Coward
    Anonymous Coward

    Hint

    The $$$$ never really existed in the first place.

    1. Sorry that handle is already taken. Silver badge

      Re: Hint

      That is an important point. According to the terms of service, users of the service weren't depositing actual money into their accounts, they were purchasing "Quadriga Bucks". The actual money, as you say, is long gone. It's likely that QCX had been insolvent for quite some time.

      1. Michael Wojcik Silver badge

        Re: Hint

        they were purchasing "Quadriga Bucks"

        After which they were considered "bucked over", and invited to "buck off".

      2. Doctor Evil

        Re: Hint

        "According to the terms of service, users of the service weren't depositing actual money into their accounts"

        Well, this guy apparently did deposit real money. A fair chunk of it, in fact.

        1. Sorry that handle is already taken. Silver badge

          Re: Hint

          ...and then discovered that his actual money no longer existed!

  11. The Nazz Silver badge

    Timing

    It is often said that criminals get caught because they get greedy and continue for too long.

    I speculate, but i guess this guy knew that and, possibly, got out when appropriate.

    It's certainly becoming something of a whodunnit. Or a dunwhat.

    And how the hell can someone's legal bills, for a relatively simple legal issue add upto $300,000 in such a short space of time? .

    1. Neoc

      Re: Timing

      Lawyers.

      1. RunawayLoop

        Re: Timing

        "Lawyers."

        Fucking lawyers...FTFY

        1. BebopWeBop Silver badge
          Trollface

          Re: Timing

          Is that fixed or f*cked?

    2. Michael Wojcik Silver badge

      Re: Timing

      And how the hell can someone's legal bills, for a relatively simple legal issue add upto $300,000 in such a short space of time?

      I don't think it was a "relatively simple legal issue". A personal bankruptcy after a spouse dies, tangled up in a corporate bankruptcy with numerous complications (inaccessible assets, lack of records), is likely to be pretty complicated.

      And $300K since the end of December is only ~30 billable hours / week, at $1000 / hour, which is hardly an unusual rate for a partner or senior associate at a successful firm. At least not in the US. Presumably not all of those hours would actually be billed by the senior attorney involved, but throw in various lower associates, paralegals, etc, and it's not hard to see how you'd reach that total. And it's likely there are filing fees and court costs and the like.

    3. fajensen Silver badge
      Coat

      Re: Timing

      Bankruptcy lawyers will continue to litigate for as long as there are funds left in the wreckage, in some notorious cases 3 generations of lawyers will have lived off the carcass before the surviving creditors gets Nothing.

  12. flying_sausage

    Great Movie

    If this turns out to be a real exit scam, then bravo Gerald for figuring this out and having the guts to pull it off, wrong but genius. This whole thing will make a great movie and all proceed should go to the creditors to get repaid.

    1. Anonymous Coward
      Anonymous Coward

      Re: Great Movie

      Based on the empty Bitcoin wallets, the scam likely went:

      - get people to invest

      - steal their money or invest it really badly. Note that it is sometimes difficult to determine which option was intended, particularly given the dramatic rises and falls, but the end result is the same.

      - smile reassuringly as you tell "investors" their money is safe

      - empty Bitcoin wallets!

      - "die" taking all knowledge of company with you. Try not to make it too convincing or involve people you may have defrauded in this part of the plan...

      - profit? You did remember to take some money for yourself didn't you? As "fees" or "getting out before the market crashed"

      If you peel the Bitcoin label off this scam, it's not exactly new and there's no need for the congratulations.

      1. fajensen Silver badge
        Pint

        Re: Great Movie

        Reminds me of MF-Global, except the CEO of that outfit, John Corzine, didn't need to fake his death or anything like that. Because Markets (or maybe the difference between being a Made Man* and the more common criminal).

        *) Goldman Sachs + Career in Politics.

  13. Pascal Monett Silver badge

    Thank goodness Bitcoin is there to stick it to The Man, right ?

    So happy that all those financial rebels have such a secure and reliable solution, well away from the prying eyes and overbearing regulation of pesky government.

    Funny, but I'm not all that bothered about government oversight when it comes to ensuring that my money remains in my possession.

    1. LDS Silver badge

      Re: Thank goodness Bitcoin is there to stick it to The Man, right ?

      The funniest thing could be they now will ask loudly governments and regulators to get their money back....

      1. doublelayer Silver badge

        Re: Thank goodness Bitcoin is there to stick it to The Man, right ?

        These people weren't trying to use bitcoin or any other cryptocurrency as a currency, which was its original goal. They simply wanted to jump on the bandwagon of thinking it would soar in value once again because blockchain, which sounds technical and people like to talk about on TV. They probably didn't have any specific distrust of government, unlike those who want to replace fiat currencies with cryptocurrencies, for whom trust is a very different issue. Those two groups must really hate one another.

      2. M.V. Lipvig

        Re: Thank goodness Bitcoin is there to stick it to The Man, right ?

        That does present a new angle, gummit comes up with this scheme as a way to justify sticking their noses into it.

  14. Mr Dogshit
    Facepalm

    Wah wah waaaaaaah

  15. Nick Kew Silver badge
    Pint

    Anyone here fancy themselves as novelist or film maker?

    Here's your subject!

    No charge for the suggestion, but you can buy me a pint when you launch!

  16. Milton Silver badge

    What a tangled web

    El Reg treads the lines carefully—

    Since Cotten's reported death, at the age of 30 while traveling in India ... ... According to a death certificate, Cotten died while traveling through Jaipur ...

    —but is obviously noticing a stench resembling that of half a ton of dead fish rotting in the Jaipur sun.

    I'm reminded of Rabbie Burns: "Ah what a tangled web we weave / when we seek to deceive"

    We can't all be D.B.Cooper, and he at least had the sense to 'spend' some of his ill-gotten gains by chucking them in a ravine to stir the possibility that he hadn't survived his parachute drop. If perchance this is a larcenous enterprise, it might have been better not to make that 3 December transaction, which may prove a fatal undoing ....

    1. Jedit
      Headmaster

      "I'm reminded of Rabbie Burns: "Ah what a tangled web we weave"

      Two corrections. First, it's "Oh! What a tangled web we weave, when first we practice to deceive". Second, it's by Sir Walter Scott, not Burns.

      1. Michael Wojcik Silver badge

        Re: "I'm reminded of Rabbie Burns: "Ah what a tangled web we weave"

        Third correction: the alias used by the '71 Northwest Orient hijacker was "Dan Cooper", not "D.B. Cooper". The latter was a mistake in early media reports.

        Ah, pedantry.

  17. MAF
    Joke

    Looking...

    Have they tried looking down the back of the sofa?

    1. BebopWeBop Silver badge

      Re: Looking...

      Not as bizarre as you might think given the stories of misplaced drives with someones private keys left on it (for example https://www.wired.co.uk/article/bitcoin-lost-newport-landfill)

  18. lglethal Silver badge
    Go

    Any Vultures (of the El reg variety) living in Jaipur right now? Fancy doing some digging for us all? No not that sort of digging, put the shovel away.

    Would be interesting to know if this is getting any coverage at all in India?

  19. Sam Therapy
    Devil

    It was the butler wot did it

    Obviously.

  20. rdhood

    From chepicap.com,

    "The statement by Pragya, an official spokesperson of Fortis Escorts Hospital in Jaipur stated "The patient died here in Fortis and was brought in an extremely critical condition,"

    New Indian Express states that the press release surrounding Cottens passing, explains that Cotten was brought to the facility December 8, 2018 around 9:45 PM. The patient had a history of Crohn's disease and was on monoclonal antibody therapy. Cotten was diagnosed at the hospital with a case of septic shock, perforation peritonitis, and intestinal obstruction.

    Read more: The QuadrigaCX timeline: as it happened

    Cottens condition deteriorated from there, the press release states "At 2:45 pm, Cotten suffered a cardiac arrest but was revived by CPR. he also suffered two subsequent episodes of ventricular tachycardia (fast heart rhythm) for which cardioversion was conducted," the report indicates that Cotten suffered a second cardiac arrest, but could not be saved. He was declared dead at approximately 7:26 PM on December 9, 2018. "

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