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This is a CBC podcast.

On January 14, 2019,

Quadriga CX finally told the public that its CEO Gerald Cotton was dead.

Even before that, customers were already jittery.

For almost a year, the company has been struggling to pay out their clients.

The value of Bitcoin has plummeted and there's been a mad rush to get money off the exchange.

When they start having withdrawal delays, that's when you start worrying and that's when you get your money out.

They couldn't get cash, they couldn't get crypto off the exchange.

It was all falling apart.

And for a whole month, the company appeared to operate as though its CEO weren't gone.

Because like when the news came out, the exchange was still running and they'd made a statement

that like everything's fine, we're not on fire.

That waited a very long time, obviously, to announce his passing.

So I think that's the first kind of shock to the system is that inconsistency between what

that being saying and what had clearly happened. I mean, why wait that long? That's extraordinary.

...