Canadian Crypto Exchange Loses $145 Million Because CEO With The Only Password Passes Away

Canadian Crypto Exchange Loses $145 Million Because CEO With The Only Password Passes Away

One of the largest bitcoin exchanges in Canada has reported a loss of almost $ 145 million USD. QuadrigaCX claims to have lost access to the companies cold storage containing a sizeable amount of crypto assets.  Included in the offline cold storage was 26,500 Bitcoin, 430,000 Ether, and 200,000 Litecoin.

From thehackernews.com:

“Following the sudden death of Gerry Cotten, founder and chief executive officer QuadrigaCX, the Canadian exchange this week filed for legal protection from creditors in the Nova Scotia Supreme Court until it locates and secures access to the lost funds.
In a sworn affidavit filed by Cotten’s widow Jennifer Robertson and obtained by Coindesk, Robertson said QuadrigaCX owes its customers some CAD 260 million (USD 198 Million) in both cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, and Ethereum, as well as fiat money.
However, Robertson said the cryptocurrency exchange only has smaller amount in a ‘hot wallet’ (USD 286,000), claiming that to protect its users funds from hackers, majority of coins were kept in a ‘cold wallet’—a physical device that is not connected to the internet—by Cotten, who died of Crohn’s disease on December 9 in Jaipur, India.”

 

But not everybody is buying the story. Some researchers and QuadrigaCX users have been doubtful of the Canadian crypto exchange’s claims. The amount claimed seems higher than it should be. Some claim QuadrigaCX never had access to such a large pool of funds. It could be true but it could also be a sneaky exit scam.  

If the claim is true, the company will be filing for bankruptcy and the crypto assets on the cold storage will never be accessed again.  

Keep your passwords safe friends! And make sure you have a way for your beneficiaries to securely access your passwords and modern-day keys. 

Get Ready! Hardware Wallets Are Coming To Exodus – The Full Exodus Wallet Roadmap

Get Ready! Hardware Wallets Are Coming To Exodus – The Full Exodus Wallet Roadmap

Exodus is easily one of our favorite Bitcoin and cryptocurrency wallets. The UI is amazing, you can store a multitude of different blockchain tokens and there is a built in exchange tool.

AND EXODUS LETS YOU CONTROL YOUR PRIVATE KEYS 👍

Currently Exodus supports Aragon, Augur, BAT, Bitcoin, Civic, Decred, Dash, EOS, Ethereum, Gnosis, Golem, Litecoin, OmiseGo, Qtum and SALT.

And now It has been confirmed! Hardware wallets will be available for Exodus!

“The Exodus team is very keen to add hardware wallet support (e.g. Trezor, KeepKey, Ledger Nano). I can also tell you that personally JP and I both want hardware wallet support ASAP… We also have heard from a number of high-net worth investors this is the ideal platform with the added hardware auth.

We can likely expect support for hardware wallets on Exodus sometime in 2018. The roadmap below has all the details on what Exodus plans to work on.

From woobull.com:

 

The Full EXODUS Roadmap

Feature Standard Release Eden[1]Release Details
Bitcoin 2015.12.09
Litecoin 2015.12.09
Dogecoin Removed Available in the initial 0.4.0 public release (2015.12.09), but removed for users with zero balances in 1.31.0 (2017.08.03) and fully removed from 1.34.0 onwards (2017.09.14) see Reddit post for more details.
Ethereum 2016.02.12 ERC20 asset support in v1.23.0 (2017.04.14)
Dash 2016.04.08 Excludes InstantX and PrivateSend features.
Golem 2017.04.14 Golem is the first ERC20 token to be supported by Exodus.
Augur 2017.04.27
Decred 2017.06.22 Excludes support for staking, but this is under evaluation for a future release.
EOS 2017.07.06
Aragon 2017.07.06
Gnosis 2017.07.20
OmiseGo 2017.08.25
Basic Attention Token 2017.08.31 2017.08.25
Civic 2017.09.14
Qtum 2017.08.31 2017.08.25
0x 2017.08.25
Bancor 2017.08.25
Bitcoin Cash 2017.08.25
DigixDAO 2017.08.25
District0x 2017.08.25
FirstBlood 2017.08.25
FunFair 2017.08.25
Metal 2017.08.25
Status 2017.08.25
Storj 2017.08.25
Wings 2017.08.25
Factom 2017.08.31 Private beta released 2017.02.10
SALT 2017.09.20
Ethereum Classic 2017.09.23

Exodus Eden Updates

  • 2017.08.25 : v1.32.0
  • 2017.08.31 : v1.33.1 : FCT
  • 2017.09.20 : v1.34.2 : SALT
  • 2017.09.23 : v1.34.3 : ETC

Future Roadmap

Feature Status Details
SEGWIT developing Support for Bitcoin SegWit transactions, currently under development, will reduce transaction fees.
Ripple developing
NEO developing
Monero 2017 Monero remains on the Exodus roadmap and we are excited to include this asset. Unfortunately, the UI/UX of Monero remains difficult and is still not ideal. Today novice users continue have difficulty with transaction notifications from the current beta GUI wallet from the Monero core team. Because Exodus does personal one-on-one support for each Exodus user we feel including Monero too early would cause a massive support burdon and confuse casual digital asset enthusiasts. Good news is we are getting closer and we do expect Monero to be included in 2017. Although pros and technical users may like bleeding edge technology, until Monero is rock solid, tested and “dog-fooded” internally Exodus will not release Monero until it is ready for “normal” (non-technical) digital asset consumers. Exodus posted an update on Reddit regarding the history and details on XMR integration (Jan 31, 2017).
ICONOMI 2017 Iconomi is an ERC20 token and expected to be released in 2017
Omni 2018 Likely in 2018. Omni, Maid, Tether all fall in the same body of work for Exodus
Maidsafe 2018 Maid is an Omni token and was expected to be released in 2017, but now delayed until 2018. These assets are built on the Bitcoin blockchain and will be contingent on the hard fork outcome in Q4 2017.
Tether 2018 Tether is an Omni token was expected to be released in 2017, but now delayed until 2018. These assets are built on the Bitcoin blockchain and will be contingent on the hard fork outcome in Q4 2017. We are most excited about Tether because of the ability to have a stable peg inside of the Exodus environment.
2FA planned 2-factor authentication support is on the roadmap, this is likely to precede Hardware Wallet Support
HARDWARE WALLET planned The Exodus team is very keen to add hardware wallet support (e.g. Trezor, KeepKey, Ledger Nano). I can also tell you that personally JP and I both want hardware wallet support ASAP… We also have heard from a number of high-net worth investors this is the ideal platform with the added hardware auth.
. .
Siacoin evaluating Exodus is intrigued with Sia but have not looked the tech to see what the options are.
SingularDTV evaluating SingularDTV is an ERC20 token.
TenX evaluating
Zcash evaluating If the Zcash network remains stable and has continual upgrades it is likely we will support this asset in 2017.
. .
Blackcoin excluded Exodus will have more interest in integrating staking protocols once Ethereum moves to proof-of-stake with Casper
Bytecoin excluded
Counterparty excluded
GameCredits excluded
IOTA excluded
Lisk excluded
NEM excluded
NXT excluded
Peercoin excluded Exodus will have more interest in integrating staking protocols once Ethereum moves to proof-of-stake with Casper
Steem excluded
Stellar excluded
Synereo excluded
Waves excluded

UPDATE HISTORY:

  • 2016-09-19: Storj, Siacoin, Blackcoin, Peercoin, Synereo, Bytecoin
  • 2016-09-23: Zcash
  • 2016-09-30: Monero, Omni, Tether
  • 2016-10-07: ICONOMI, Augur, SingularDTV, DigixDAO
  • 2016-10-17: Ethereum Classic
  • 2016-10-25: Waves
  • 2016-11-05: Maidsafe, Omni, Tether
  • 2016-11-13: Monero
  • 2017-01-15: Updates to status of most coins
  • 2017-02-13: Factom
  • 2017-03-07: Factom ETA updated
  • 2017-04-02: Factom ETA updated
  • 2017-04-06: ERC20, Golem
  • 2017-04-17: ERC20, Golem
  • 2017-04-22: Decred, Storj
  • 2017-05-01: Augur
  • 2017-06-05: Ethereum Classic
  • 2017-06-07: Factom
  • 2017-06-22: Decred
  • 2017-07-10: EOS, Aragon
  • 2017-07-20: Gnosis, Dogecoin, 2FA support
  • 2017-08-17: OmiseGo
  • 2017-08-27: Exodus Eden Assets: 0x, Basic Attention Token, Bitcoin Cash, Bancor, Civic, DigixDAO, District0x, FirstBlood, FunFair, Metal, Qtum, Status, Storj
  • 2017-08-27: Roadmap updates: OMNI, Tether, Ripple, NEO, IOTA, SALT, SegWit Txs
  • 2017-09-18: Basic Attention Token, Civic, Qtum
  • 2017-09-21: Factom, SALT
  • 2017-09-24: Ethereum Classic

EXODUS Bitcoin Wallet Review

EXODUS Bitcoin Wallet Review

In order to obtain and store digital currency, you will need a wallet. For this post we will focus on a popular desktop wallet application for storing multiple types of cryptocurrency. Here is our EXODUS Bitcoin Wallet Review:

In layman’s term a wallet is simply software program that can communicate with a blockchain. It must have unique addresses to receive and send cryptocurrency (virtual tokens).

The Exodus Wallet Fully supports Bitcoin, Ethereum, Dash, Litecoin, and Dogecoin. It is rumored that they will soon support Factoids, the digital token for Factom (a project that stores digital records on the blockchain).

Exodus is rated quite well on CryptoCompare. It currently has a 4.8 out of 5 rating. 

We prefer Exodus because of the beautiful user interface, private key control, and multi asset support.

Built In Exchange

The Exodus wallet leverages the ShapeShift digital currency exchange. It is conveniently built into the wallet.

No longer do you have to risk keeping your funds on an exchange. You can get great exchange rates from within the wallet.

 

Full Control Of Private Keys

“Exodus encrypts private keys and transaction data locally for your eyes only – no accounts, no servers, no data sharing.”

Additionally you can easily keep your wallet safe and backed up with the Exodus backup wizard.

 

Exodus Bitcoin Wallet Review Video:

 

Download & Start Using The Exodus Wallet.