Still, many remain undeterred and continue to trade cryptocurrencies. And at stake is over $ 200 million.
The exchange, launched in December 2013, allowed users to deposit cash or cryptocurrency through its online trading platform, storing the digital coins on blockchain ledgers that are accessible only by an immutable alphanumeric code. According to Cotton's widow Jennifer Robertson, Cotton did not write down the keys anywhere before he passed away, and she has no knowledge of the wallet passwords or security keys.
Canadian cryptocurrency exchange QuadrigaCX is not regulated by the British Columbia Securities Commission (BCSC), the province's financial regulator, Reuters reported, as the crypto firm founder's death has left millions of dollars in cryptocurrencies locked.
By early December, it looked like QuadrigaCX's troubles were over.
Despite the best efforts of the hospital, it is not certain that this will quell speculation regarding the Canadian crypto exchange.More news: Virtual Reality in Education Market Development and Trends Forecasts Report 2018
QuadrigaCX's future appears far from certain. He had come to the Pink City reportedly because he wanted to help build an orphanage.
With his death, the passwords that can unlock the cryptocurrencies are now gone as his laptop and smartphone are highly encrypted.
Fortis Escorts hospital in Jaipur issued a statement Thursday confirming that Cotten was admitted on December 8, 2018, at 9:45 p.m. and died from a cardiac arrest at 7:26 p.m. the next night, according to CoinDesk, an online publication that tracks the cryptocurrency industry.
This information however mysteriously failed to find its way on to QuadrigaCX's Facebook page.
Gerald Cotten, the Canadian behind cryptocurrency exchange Quadriga CX, filed a will 12 days before his death listing substantial assets, according to court documents. Cotten had also been suffering from Crohn's disease, an inflammatory bowel disease which can sometimes cause life-threatening complications.More news: Hailey Baldwin Reveals How Justin Bieber Proposed to Her
Gerald Cotten, a Nova Scotia resident originally from Ontario, was 30 years old when he died suddenly while travelling in India on December 9 - leaving his virtual company, QuadrigaCX, without access to $180 million in Bitcoins and other digital assets.
Numerous digital currencies held by Quadriga are stored offline in accounts known as "cold wallets", a way of protecting them from hackers.
So, what now? Well, QuadrigaCX has managed to get a court to give it a one-month protection from being sued by its customers.
Funds in Cold Wallets - Do They Really Exist?
Some, however, have begun wondering whether this all is just part of a grand and fantastic scam. Some say that he faked his death to obtain client money.More news: Good Friday agreement in peril over Brexit, Tony Blair warns
The crypto community, in general, is treating Cotten's death with skepticism.