QuadrigaCX Founder's Widow to Repay Exchange’s Users With $9 Million

Jennifer Robertson, the widow of the late QuadrigaCX founder Gerald Cotten, is set to hand over $9 million worth of her assets to the users of the now-defunct cryptocurrency exchange.

According to a personal statement Robertson posted, first sent to CoinDesk, she is set to transfer the majority of her estate’s assets to Ernst & Young Canada, the firm that acted as a trustee in QuadrigaCX’s case.

Robertson’s statement reads:

I have now entered into a voluntary settlement agreement where the vast majority of my assets and all of the Estate’s assets are being returned to QCX to benefit the Affected Users.

QuadrigaCX went down after its founder Gerald Cotten passed away and his widow and other affiliates realized they had no way to access the cryptocurrency stored in its cold wallets. While around $145 million worth of client funds ended up being lost because of this, the $9 million from Robertson represent most of her assets.

A report by EY Canada reveals she will be handing over everything but around $162,700 in personal assets. These include cash, retirement savings, and outstanding shares of QuadrigaCX, among other assets. EY is set to liquidate the assets handed over for QuadrigaCX’s users who were affected.

After Cotten passed away it was found he mixed personal funds with those of the cryptocurrency exchange, something Robertson claims she wasn’t aware of. Per her words, she had no direct knowledge of how the exchange operated.

Featured image via Pixabay.

Dark Web Marketplace Bans Vendors Selling Fake COVID-19 Vaccines for Bitcoin

Dark web marketplace Monopoly Market has reportedly taken a stance against those trying to profit off of the COVID-19 outbreak, banning any vendor trying to take advantage of the pandemic.

According to The Independent, various sites on the dark web have seen a surge in listing selling materials for bitcoin claiming to be able to protect people from the disease. Monopoly Market’s admins have warned users they won’t be allowing these listings.

The market, which is relatively now and has little over 100 active vendors selling drugs ranging from cannabis to steroids for BTC or XMR, made the warning after receiving an influx of coronavirus-related listings from scammers. A forum post reads:

Any vendor caught flogging goods as a ‘cure’ to coronavirus will not only be permanently removed from this market but should be avoided like the Spanish flu.

Monopoly Market is also barring users from selling items impacted by shortages, including face masks. The post adds users are not to “under any circumstances use COVID-19 as a marketing tool.” On dark net markets, fake coronavirus vaccines claiming to be “fully tested and confirmed” have been spotted in listings, going from $200 to $300 in BTC.

There are currently about 20 vaccines in development in labs throughout the world, but experts have warned it could take 18 months for one to meet regulatory tests and standards. The Independent notes these are unrelated to the listings, however, as one vaccine listed on the Agartha market, priced at $300 in bitcoin, contains a mix of nicotine, cocaine, and amphetamines.

Monopoly Market has also called on vendors to take precautions to avoid transmitting the virus to clients:

You should already be doing this but please wear a pair of gloves, old pair of reading glasses, and a face mask if available. Vendors in all conditions should be keeping a certain level of good hygiene.

This is notably not the first time darknet users voluntarily halt the sale of dangerous or dubious products. In 2018, major marketplaces banned the sale of fentanyl after it was linked to hundreds of accidental overdoses.

Scammers, as CryptoGlobe reported, have even been impersonating the World Health Organization to steal bitcoin meant to help fight the coronavirus outbreak.

Featured image via Pixabay.