News QuadrigaCX: Indian Hospital Releases Details About CEO's Death

QuadrigaCX: Indian Hospital Releases Details About CEO’s Death


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Fortis Escorts, a private hospital in the Indian city of Jaipur, has released details about the death of Gerald Cotten, CEO of Canadian cryptocurrency exchange QuadrigaCX.

In a statement shared with CoinDesk on Thursday, Fortis Escorts said that Cotten was admitted to the hospital on Dec. 8, 2018 at 9:45 p.m. IST (16:15 UTC) and died of cardiac arrest at around 7:26 p.m. IST (13:56 UTC) on Dec. 9, 2018.

Two separate documents released previously – a statement of death issued from J.A. Snow Funeral Home and a death certificate issued from the Government of Rajasthan’s Directorate of Economics and Statistics – also state that Cotten died on Dec. 9, 2018 in Jaipur, the state capital of Rajasthan.

Cotten was brought to the hospital in a “critical condition” with “pre-existing Crohn’s disease and was on monoclonal antibody therapy every 8th week,” the statement from Fortis Escorts reads. At the time of admission, Cotten was diagnosed to be suffering from septic shock and other serious issues relating to his exacerbated condition.

“On 9th December, 2018, the patient suffered a cardiac arrest but was revived by CPR [cardiopulmonary resuscitation]. The patient heart condition continued to deteriorate and the patient suffered a second cardiac arrest at 6:30 p.m. [13:00 UTC],” the statement from the hospital states.

It continues:

“Despite the best efforts of our clinicians the patient could not be revived and was declared dead approximately at 7:26 pm. All standard medical procedures and guidelines were followed to treat the patient. The information of his death was communicated to the relevant authorities.”

Cotten’s death is at the center of the concerns and rumors surrounding the QuadrigaCX exchange, which went offline last week owing millions to its thousands of customers because the CEO had died apparently without leaving a way for staff to access the computer storing its funds.

In a sworn affidavit filed Jan. 31 with the Nova Scotia Supreme Court, Jennifer Robertson, identified as the widow of QuadrigaCX founder Gerald Cotten, said the exchange owes its customers roughly 250 million CAD (US$190 million) in both cryptocurrency and fiat.

The exchange has since sought creditor protection in the court. On Tuesday, a Supreme Court judge granted the exchange its application, giving it a 30-day stay of proceedings to try and recover any cryptocurrencies, as well as find other avenues for reimbursing customers.

Canadian flag image via Shutterstock

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