Cotten died December 9 of complications due to Crohn's disease in Jaipur, India, according to Robertson's affidavit and a statement of death from J.A. Snow Funeral Home in Halifax, dated December 12.
Cotten, whose sudden death left $190 million (US$145 million) in Bitcoin and other digital assets protected by his passwords unretrievable, signed his last will and testament on November 27, 2018. "As such, BCSC does not regulate it", a BCSC spokesman Brian Kladko told Reuters.
Cotten, 30, was a Nova Scotia resident originally from Ontario.
The CSA continues to urge Canadians to be cautious when considering buying crypto-assets through trading platforms.
"I do not know the password or recovery key". In a will that Cotten filed about 12 days before he died, he decided that the only beneficiary and executor for his estate was to be his wife, Jennifer Robertson.
The crypto community, in general, is treating Cotten's death with skepticism. Cotten's death certificate, issued by the Government of Rajasthan's Directorate of Economics and Statistics, has since surfaced. Cotten was reportedly admitted to the hospital in the evening of December 8 and died of cardiac arrest a little less than a day later on December 9.
The young Canadian man was already close to death when he was admitted to a hospital in the Indian city of Jaipur in early December. Cotten had also been suffering from Crohn's disease, an inflammatory bowel disease which can sometimes cause life-threatening complications. Cotton had complained of watery stools, vomiting, cramps and abdominal pain.
"Despite the best efforts of our clinicians the patient could not be revived and was declared dead approximately at 7:26 pm".
Cotten was also registered as CEO of the company since December 2013.
Meanwhile, industry critics have come forward to say the QuadrigaCX debacle has proven to be a major embarrassment for Canada's cryptocurrency industry, which includes more than a dozen exchanges across the country.
An analyst h as claimed that the "missing" funds from embattled Canadian crypto exchange QuadrigaCX may not be stuck in a cold wallet but missing altogether.
Back in October, the exchange was caught in another legal dispute with the Canadian Imperial Bank of Commerce [CIBC], which it accused of withholding and preventing access of funds worth $21.6 million.