Kraken Offers $100,000 for Help with Quadriga
The cryptocurrency exchange Kraken decided to help its colleagues from Quadriga, where the CEO died and took with him access to assets worth more than $145 million. Kraken announced a $100,000 reward for assistance in gaining access to lost money.In early 2019, Quadriga announced the death of its CEO Gerald Cotten. Allegedly, he alone had access to the cold wallets of the exchange, where the platform was keeping clients' cryptocurrency worth more than $145 million. Now Quadriga is trying to recover private keys, but so far unsuccessfully.
Kraken — another crypto exchange — decided to help colleagues. The platform announced it would pay $100,000 in cryptocurrency or fiat to anyone who would help restore access to Quadriga assets. Kraken promises to transfer the received data to law enforcement.
As for Quadriga, the exchange failed to gain access to its crypto assets. Now the platform is under the creditor's protection, and clients are preparing for litigation with the exchange.
In late February, Coinbase conducted its own investigation into the Quadriga situation. According to Coinbase CEO Brian Armstrong, the exchange suffered from mismanagement and a lack of liquidity, which was aggravated by a collapse on the crypto market. Therefore, top management could take advantage of the death of Gerald Cotten to hide the traces of their actions.