QuadrigaCX shut down and left 115,000 users without any answers or a chance to recover their money/bitcoin invested. Gerald the CEO, passed away in India by natural causes leaving nobody access to the cold storage wallet that was thought to hold $180,000,000 in users Cryptocurrency. With additional efforts, they got into the wallet and discovered no funds in it. Gerry passed in December 2018, the wallet was emptied in April 2018 and has not been used since. Also the co-founders past came to haunt him, he was involved in bank, and credit card fraud which he served time in the U.S after pleading guilty. It is not looking pretty for QuadrigaCX users. It was the largest cryptocurrency exchange in Canada. Everybody used it, including us. It shows the importance of never trusting an exchange, even if it has amazing reputation. Hold your crypto in your own wallets, make sure to own the private keys and not just store it wherever you think is "safe".

Thank you for supporting Everything Crypto podcast. This is episode 017 of Everything Crypto