Business Loses $190,000 because Boss dies with passwords needed to unlock customer accounts


Customers of a Canadian cryptocurrency exchange are reportedly unable to access $190 million of funds after the company’s founder died with the passwords needed to access the money. . .

About $190 million in cryptocurrency and traditional money is said to be in “cold storage,” with the digital key held by Cotten. While Robertson has Cotten’s laptop, she does not know its password and even a security expert has been unable to get past the device’s encryption.

This raises another level to my advice that 21st Century Estate Planning includes digital assets.

Are you a business owner? Add this to the lists of especial business planning actions. Does someone at your business have knowledge of your accounts and passwords should something happen to you?