Daily Mail- Canada’s largest cryptocurrency exchange – which owes its customers $190million (£146million) – has been left with no way to access the majority of its funds after the co-founder died, taking with him the only password.
Hahahaha. Okay, sorry. Not to laugh at these peoples’ pain, but this is why no one should have invested in cryptocurrency. These people put a combined one hundred ninety MILLION in and can get zero out just because the guy that started the company didn’t write down the password. That has to be easily the most post-technology wasteland of a sentence I’ve ever heard.
I also don’t mean to make light of this guy’s death (which was sad, he died at 30 from complications from Crohn’s disease), but the fact that no one thought to have a way to access the money without this dude is insane. Human beings are fallible. There was seriously no one who thought hey, maybe we could use a ‘forgot password’ option? No one said listen, let’s just write this down in case there’s an emergency? It’s downright arrogant of this company to put everything on one human being.
I also can’t stop laughing at the idea that they hired a guy to break into the system and he couldn’t do it. Why would you make the password that complicated? It’s like they wanted this to happen. I understand that security matters when it comes to peoples’ money, but come on. At least have an override option. Part of the effort to break in to the bank was trying to find the money people put in:
‘[This includes] attempting to locate and secure our very significant cryptocurrency reserves held in cold wallets, and that are required to satisfy customer cryptocurrency balances on deposit. Unfortunately, these efforts have not been successful.’
This is what I mean! Banks fucked everyone in the 1930s because there was no regulation. Crypto banks have zero regulation, so putting your money in them is downright stupid, and this proves why. Imagine the stupid hipster that invested in this shit who’s now out a milli because he couldn’t just use normal money like a regular person. This definitely sucks, but I also definitely don’t feel bad for him. Stick to cash money, baby. I might only have $13.28 on me right now in cash, but at least I know it’s mine, and no one can die and take it away from me.