The widow of QuadrigaCX founder Gerald Cotten, Jennifer Robertson, inherited about USD 9 million of assets when Cotten died. Now Robertson is turning over these assets to the trustee overseeing the QuadrigaCX case, aside for USD 162,000 of her personal assets.
QuadrigaCX used to be one of the biggest cryptocurrency exchanges in Canada, until its founder passed away in India. Allegedly, Cotten was the only one who had access to USD 190 million of cryptocurrency private keys, meaning everyone who used QuadrigaCX lost all of their funds.
Analysis and reports indicate that Cotten actually lost the money when trading, and perhaps embezzled the money in other ways, although nothing is confirmed at this point.
Robertson claims that she had no idea that the USD 9 million she inherited was from ill-gotten gains. She says she believed the money was from profits that Cotten legitimately earned.
The USD 9 million that Robertson is handing over is less than 5% of the money lost on QuadrigaCX, and it is up to the judge as to whether this settlement offer will be acceptable, or if litigation against Robertson will continue.
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