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Software Engineer Loses Life Savings in Quadriga Imbroglio

Monday February 11, 2019. 07:48 PM , from Slashdot
Software Engineer Loses Life Savings in Quadriga Imbroglio
Tong Zou wasn't a stereotypical crypto bro bent on accumulating flashy trophies such as Lamborghinis when he deposited his life savings into Quadriga CX's digital exchange. The 30-year-old software engineer, who'd been working in California for seven years, just wanted to save a few bucks on transfer fees after deciding to move to Vancouver. It proved to be a C$560,000 ($422,000) mistake. From a report: 'It's all my savings, so I'm just living on what little I have left and trying to start over,' Zou said in a phone interview Friday from Vancouver, where he has been living out of an AirBnB for the past month. 'It pretty much took everything away from me.' Zou is one of Quadriga's 115,000 clients who are out of luck after the sudden death of the firm's founder left C$190 million in cryptocurrencies protected by his passwords unretrievable. The exchange has halted operations and was granted protection from creditors on Feb. 5 in Nova Scotia Supreme Court in Halifax.

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