
Cryptocurrency Exchange Locked Out of Funds After CEO's Death - joeyrideout
https://www.pcmag.com/news/366309/cryptocurrency-exchange-locked-out-of-funds-after-ceos-deat
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splintercell
People are reporting that despite the 'loss' of the keys, the funds are being
moved.

[https://www.reddit.com/r/BitcoinCA/comments/amb73w/quadrigac...](https://www.reddit.com/r/BitcoinCA/comments/amb73w/quadrigacx_ltc_cold_wallet_list_and_analysis/)

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lapink
I don’t get why would anyone carry that much crypto currencies on their
laptop. Fake story or crooks ?

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tonysdg
Never attribute to malice that which can be explained by incompetence. A
small-ish exchange, run by a small number of developer-employees, with limited
computing assets. I can easily see someone making the argument that moving
cold wallets to an encrypted, offline company machine would (1) free up
resources that could be used elsewhere and (2) would make a less obvious
target for hackers. Follow that up with no backups -- because let's face it,
most individuals and probably a lot of small businesses have no backups -- and
voila: you get a bus factor of 1.

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jobigoud
Backing up sensitive stuff is an art in itself. You have to make sure the data
is not accessible by the wrong person, but also that the key or password to
access to the backup is itself backed up or distributed.

