The head of a company specializing in cryptocurrency dealings has died, leaving tens of thousands of investors in a very difficult situation, threatening to lose their money forever.
The company’s justification was strange, and it said that only the CEO who left our world knows the password to access the funds.
Tong Zhou tries in vain to avoid thinking about the amount of money he lost, but fails to do so, by withdrawing a report for the British “Sky News” network.
All the savings of the 33-year-old, amounting to more than 400,000 dollars, evaporated due to the death of the CEO of a cryptocurrency company.
The company is (Quadriga CX), and it is considered the largest company of its kind in Canada, and its president and co-founder, Gerald Cotten, died in January 2019 in mysterious circumstances due to the repercussions of the Crohn virus infection, shortly after his visit to India.
But the mysterious circumstances fueled speculation that he is still alive, and that what happened was just a plan to defraud investors.
Zhou says in a documentary on the “Netflix” platform that the evaporation of all his savings has made him more depressed than ever.
He added, “I could have invested it in real estate. I could have put it on the stock exchange.”
He continued, “So far, nothing has been found. It’s a bad thing.”
He deserves some of the blame, but a lot of people blame him alone, he said, adding: “It’s also bad luck (..) I think I trusted them a lot.”
It turned out that the CEO had been running a fraud scheme before his death in what investigators described as an “old-fashioned scam wrapped in modern technology.”
Tong Zuo bought with his money cryptocurrencies through the Canadian company, and when he sold them, he expected that the amount would be transferred to his balance, but months passed without the money appearing.
And after he communicated with the company, via e-mail, saying, “Where is my money?, the company’s response was that it is in a legal dispute that delays the transfer of funds.”
The company said that the amount of $190 million could not be paid to the company’s customers, because Gerald died with the password to access the money.