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Over $92 Million in Bitcoin Lost Forever, Why this could be a Bullish Sign?

Bitcoin has the fixed supply of 21 million, however, in the light of current and past events, thousands, presumably millions of Bitcoins are lost that only reduces its supply.

Crypto Exchange Founder Dies, Crypto Funds Lost

Canadian cryptocurrency exchange QuadrigaCX can’t access the majority of the $190 million that it owes to its customers, according to a court filing. In a sworn affidavit with the Nova Scotia Supreme Court, Jennifer Roberson, identified as the widow of Gerald Cotten, founder of QuadrigaCX, has stated that the exchange owes $250 million CAD that is $190 million to its customer. Recently, the exchange had taken a step to avoid bankruptcy by filing for protection from creditors.

According to the filing, as of January 31, 2019, there were about 115,000 users with their balances on the exchange inclusive of $180 million CAD in cryptocurrencies and $70 million CAD in fiat. The exchange, according to the affidavit holds about 26,500 Bitcoin ($92.3 million USD),…

Read Full Story : Coingape

2019-02-02 14:32:24

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