Users of Crypto Site Where Dead CEO Lost $196M Are Preparing Suit

Making Moves

Remember that cryptocurrency exchange that said it lost $196 million of its customers’ money when CEO Gerald Cotten died — prompting conspiracy theories Cotten faked his own death?

Well, those 115,000 customers just lawyered up.

Ticking Clock

Michael Wood, a justice on Nova Scotia’s Supreme Court, issued a ruling Tuesday that QuadrigaCX customers would be represented by two law firms, Miller Thomson as well as Cox & Palmer, in the event of a class-action lawsuit, according to CoinDesk.

So far, no one has filed suit against QuadrigaCX — though the users’ new lawyers can start preparing one, according to CoinDesk. On Feb. 5, the courts approved a 30-day stay at the company’s request. That leaves QuadrigaCX with about two more weeks to settle the matter and come up with $196 million on its own before anyone can sue.