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Bitcoin exchange CEO had died in Jaipur, lakh customers left in lurch

Press Trust of India  |  Jaipur 

: The of one of the largest cryptocurrency exchanges in Canada, whose death left over a lakh of customers without the passwords to access their funds worth USD 145 million, had been admitted at a private hospital here.

He was admitted to Hospital and died on December 9, a said, confirming the death in of and co-founder

We gave his wife a No Objection Certificate (NOC) on December 10, allowing her to take the body to for conducting the last rites, said.

A hospital said Cotten was admitted on December 8 with symptoms of diarrhoea.

He suffered a cardiac arrest and died the next day, the said.

is now unable to gain access to Canadian dollars 190 million (over Rs 1,000 crore) of bitcoin and other digital assets after his death.

Reports from said he died of complications arising from Crohn's Disease, an inflammatory bowel ailment, while volunteering at an Indian orphanage.

Many of the digital currencies held by are stored offline in accounts known as "cold wallets," a way of protecting them from hackers.

Cotten was the only person with access to the wallets, according to the company.

His death has left the company struggling to figure out how to refund more than 100,000 of its users, reported.

Cotten's widow Jennifer Robertson said people were posting inaccurate speculation on about "whether he is really dead."

She said the laptop that Cotten used to run the currency exchange is encrypted, according to her affidavit posted on site CoinDesk.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 07 2019. 19:35 IST
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