Someone tracked Patryn to a scam forum called TalkGold, where Patryn talked to one user in particular, sceptre, a bunch. Gerald died while on a honeymoon with his wife Je The Netflix documentary will follow investors-turned-investigators looking into theories on the founder's sudden death. At the time, he was the CEO of QuadrigaCX, a company that performed cryptocurrency exchanges. Shortly after, the exchange stopped working entirely. And for some, things still looked suspicious. So, Patryn: shit-stirrer, criminal mastermind or another one beguiled by Cotten? [33] After the exchange was put into maintenance mode for several days in January, they announced on the 31st that they were applying for creditor protection. Facebook / Remembering Gerry Cotten In the weeks since Quadriga Fintech Solutions Corp. belatedly made his death public, the exchange's furious users have raised questions. Some have speculated that Gerald Cotten faked his own death and basically got a knock-off death certificate in India or perhaps he was killed by his business partners but even the death itself is incredibly suspicious. [48], On 5 February 2019, Nova Scotia Supreme Court Justice Michael J. There were other problems around that time. His body was repatriated to . His death sparked online debates and string theories on Reddit and. The user said that he left the company in 2016, and that the company was legitimate at the time. And why did the Indian hospital that treated Cotten misspell his name on his death certificate? They also found a substantial amount of money was used to fund a lavish lifestyle for the couple, including the use of private jets and luxury vehicles. When Taylor Monahan, founder of MyCrypto, examined the exchanges cold wallets, she couldnt find the lost crypto. Was the CEOknown for his luxurious lifestyle, which included jets, supercars and vacationsmurdered by a mob debt collector or a jealous lover? The couple were on their honeymoon in India, where Jennifer had dreams of opening an orphanage. Despite presenting himself as mild mannered and clean cut, Cotten was found to have had a history of carrying out financial cons - starting when he was just a teenager. Please refresh the page or navigate to another page on the site to be automatically logged in, Please refresh your browser to be logged in, A lost password, a sudden death and $180M in missing crypto, Extra 20% off selected fashion and sportswear at Very, Up to 20% off & extra perks with Booking.com Genius Membership, 50 cash with friend referrals at Virgin Mobile, 15% off extra plans with this Vodafone promo, Compare broadband packages side by side to find the best deal for you, Compare cheap broadband deals from providers with fastest speed in your area, All you need to know about fibre broadband, Best Apple iPhone Deals in the UK March 2023, Compare iPhone contract deals and get the best offer this March, Compare the best mobile phone deals from the top networks and brands. - October, November, December - during all that time," he said. ^ "Quadriga CEO's widow speaks out over his death and the missing crypto millions". It comes as we revealed some of the world's biggest crypto scams following the case of Bitcoin tradersRaees Cajee, 21 and Ameer, 18,who fledSouth Africa after allegedly pocketing 2.5billion. The circumstances sparked speculation from some in the crypto community that the CEO faked his death and stole his clients' money. At first, the now-closed company allegedly blamed the delay on a legal issue with a bank. Cotten also took flying lessons as he appeared to be possibly preparing for a life on the run. Then Cotten took a turn for the worse: he went into cardiac arrest three times; the third time, the doctors couldnt revive him and declared him dead. The estate includes an airplane, a sailboat, a 2017 Lexus, and real estate in Nova Scotia and Kelowna, British Columbia. Here's my take on Gerald Cotten and his suspicious death. On the 9th, he allegedly died after episodes of cardiac arrest. Despite no concrete evidenceindeed, the murdered mans. Image Credit: CTV Your Morning/YouTube. at the time Canadas largest cryptocurrency exchange, Gerald Cotten, 30, died in questionable circumstances, Canadian company founder took crucial password to the grave. Supposedly, Cottens business associates didnt even know he was married. [17][20], In 2017, Bitcoin experienced a speculative frenzy rising in price from about US$1,000 to almost US$20,000. Bankruptcy trustees have managed to recover around $34million from Quadriga and $12million in assests from Cotten's estate - but the rest remains locked away in the digital world of crypto. Subsequent investigations found that Michael Patryn, one of the co-founders, registered the domain name for QuadrigaCXnot Gerry. Someone tracked Patryn to a scam forum called TalkGold, where Patryn talked to one user in particular, sceptre, a bunch. Gerald 'Gerry' Cotten died in 2018, taking password to access funds with him Credit: Netflix. goes to Cottens hospital in India to put the whole fake death thing to bed. The tech whiz however didn't even need to do it - being an early believer in crypto, he likely would have got rich without the need to scam people. I think there were a couple years when it ran legitimately I dont think Gerry could have imagined a future with money pouring in the way it eventually did.. There was no autopsy on the body, for instance, and Cotten had signed his will two weeks after he diedleaving his riches to Jennifer. Finally, the OSC discovered something that cracked the case wide open. Netflixs documentary definitely seems to be in the corner that Cotten did die, despite the mystery surrounding his death. Photo by Gaetano Cessati on Unsplash. While the large increase in volume increased commissions, it also caused cash-flow problems due to the exchange's reliance on external payment processors and its lack of a proper accounting system. The sudden death of Gerald Cotten in December 2018 plunged the world of cryptocurrency into chaos. Where was the rest of the money? [7] Meanwhile, in order to manage the finances of the company during the process, a third-party monitor, Ernst & Young, was appointed. Since his death, Cotten has been recast as a habitual scammer who would enjoy the thrill of knowing he was duping his customers and investors. In her memoir, Ms Robertson denies shes part of an elaborate plot to fake her husbands death, adding that speculation has led to death threats from stalkers demanding she returns the missing millions. Cotten neglected to pass on the passwords to the accounts, and in 2019, when investigators tracked down Cotten's digital wallets, all the money was gone. (Neither men were charged in connection with Liberty Reserve). seeks to unravel the mystery of Gerald Cotten, the CEO of crypto exchange QuadrigaCX, who died in 2018. [19], Some Reddit users have suggested that Cotten faked his own death in order to defraud customers through an exit scam, while others believe that Cotten's death exposed a Ponzi scheme. It sucks.". Robertson has denied any knowledge of her husband's wrongdoing - and in 2019 returned $9million to the company to repay users. The business was run from Cotten's encrypted laptop from Cotten's home in Fall River, Nova Scotia. Then, the crypto millionaire suddenly died in India from complications from Crohn's disease about three years ago. Where was the rest of the money? Though some dont believe Mr Cotten is really gone, the money from Quadriga is. And with the mystery of Quadriga still being unraveled by the Feds, Mounties, amateur sleuths and investigative journalists - the question remains what happened to Cotten? But when co-founder Cotten died during a honeymoon in India, the money was seemingly lost forever. Netflix has tried to get to the bottom of things in its new 90-minute doc; read on to uncover the wild tale of Gerald Cotten. For instance, had Cottens death certificate, which spelled his name as Cottan, been faked? [7][8], Quadriga co-founder Michael Patryn was identified by The Globe and Mail as Omar Dhanani, who was convicted on identity theft charges in the U.S. and served 18 months in Federal prison. Gerald Cotten had an estimated net worth of $80 million at the time of his death. For instance, had Cottens death certificate, which spelled his name as Cott, , been faked? Image Source: Social Media. Dhanani also had pleaded guilty to burglary and grand theft charges and had been deported to Canada. He graduated from York with a bachelor of business administration in 2010. A new documentary on his mysterious death called Dead Man's Switch: A Crypto Mystery, airing on Discovery+, looks into accusations the crypto king made off with millions in investors' cash. So the Globe goes to Cottens hospital in India to put the whole fake death thing to bed. started to be convinced that he was dead, after all. Then the Ontario Securities Commission opened an investigation. The podcast was hosted by Takara Small. ET. Tong Zou is one of thousands of customers left seriously out of pocket following Gerald 'Gerry' Cotten's mysterious death in 2018 at the age of 30. ", "Vancouver crypto exchange, CIBC clash over frozen accounts", "Judge rules with CIBC, grants possession of disputed Quadriga funds to Ontario Superior Court", "The fintech 'genius' accused in $165m fraud", "Crypto Firm Cited in Bitfinex Case Had Also Worked With Quadriga", "Quadriga co-founder served time in U.S. for role in identity-theft ring, documents reveal", "Criminal Past Haunts Surviving Founder of Troubled Crypto Exchange", "Crypto firm CEO with $190 million password did die in Jaipur hospital", "Cryptocurrency Exchange Says It Can't Access $190 Million After CEO Unexpectedly Died", "Millions in cryptocurrencies frozen in Canada after only person who had password dies in India", "Crypto Exchange Founder Filed Will 12 Days Before He Died", "Quadriga CEO, whose death ignited a cryptocurrency storm, a kind man with taste for fine things, say friends", "Crypto Exchange Mystery Deepens as Board Seeks Court Protection", "Crypto exchange Quadriga files for creditor protection", "Quadriga mystery deepens with little evidence of cold wallets containing $250M", "A Crypto-Mystery: Is $136 Million Stuck or Missing? [52], The CBC released a 6-episode podcast about Quadriga and the death of its founder called A Death in Cryptoland. Still, questions about the missing money only mounted when two. The streaming service announced the feature alongside a slate of upcoming true-crime projects last week. Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in, Investors are still hunting for millions in vanished cryptocurrencies, writes Josh Marcus, Find your bookmarks in your Independent Premium section, under my profile. Its pretty much money by people for people.. Mr Patryn pled guilty in 2005 to working in an identity fraud ring, and did business under a company called Midas Gold as an intermediary with Liberty Reserve, a Costa Rican digital currency firm busted as one of the largest money laundering operations in history. The laptop computer from which Gerry carried out the companies business is encrypted and I do not know the password or recovery key. [27] Another payment processor used by Quadriga, Crypto Capital, was named in a civil suit filed by the New York Attorney General in April 2019. And, wildly, was Jennifer, his wife, even real? Netflixs latest true crime documentary, Trust No One: The Hunt for the Crypto King, has arrived on the streaming platforms extensive catalog of intriguing documentaries. ", QuadrigaCX founder used aliases, moved assets into personal accounts: report, "Quadriga Crypto Mystery Deepens With 'Cold Wallets' Found Empty", "After founder's sudden death, cryptocurrency exchange can't access $190 million in holdings", "Crypto Mystery: Quadriga's Wallets Are Empty, Putting Fate Of $137 Million in Doubt", "Unable to Retrieve Money, Cryptocurrency Investors Want Dead Executive Exhumed", Crypto exchange Quadriga was a fraud and founder was running Ponzi scheme, OSC report finds, QuadrigaCX: A Review by Staff of the Ontario Securities Commission, Quadriga CEO's widow speaks out over his death and the missing crypto millions, "Quadriga Accidentally Moved More Bitcoin to an Inaccessible Wallet", "Quadriga Founder's Widow Seeks Repayment of Her Costs", "Quadriga Lawyer Withdraws Amid Conflict of Interest Concerns", "Hot Docs Shane Smith: Weve crossed the digital divide", "Exit Scam: A Podcast Series about the Death and Afterlife of Gerald Cotten", "More than $400,000 in QuadrigaCX cryptocurrency disappears into 'cold wallet', "Before Quadriga: How shady ventures in Gerald Cotten's youth led to the creation of his ill-fated cryptocurrency exchange", "Widow of Quadriga crypto founder Gerald Cotten says she had no idea about the $215-million scam", https://en.wikipedia.org/w/index.php?title=Quadriga_Fintech_Solutions&oldid=1141935834, Financial services companies established in 2013, Companies that have filed for bankruptcy in Canada, Pages containing links to subscription-only content, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 27 February 2023, at 17:09. [19] Other than a few contractors, it had no employees, offices or bank accounts thereafter. Netflix has tried to get to the bottom of things in its, Trust No One depicts Cotten as a nerdy, happy-go-lucky, and charming CEO, who was knee-deep in, reporter that the banks, which didnt trust crypto exchanges, had, The investors found more questions than answers. Re-thinking indemnification for smart contract risks", "Bitcoin investors face long delays cashing out, criticize two B.C. An official investigation concluded that Quadriga was"an old-fashioned fraud wrapped in modern technology". Directed by Luke Sewell, the original Netflix documentary Trust No One: The Hunt for the Crypto King follows a group of cryptocurrency investors hired to investigate the death of exchange founder Gerry Cotten and the alleged $250 million that he stole from them. At this point, lots of investors think that Cotten, a man alleged to have a history of scamming, really had faked his own death. Gerald 'Gerry' Cotten | FAKE Behind 'Hunt For The Crypto King' Netflix | Where Are They Now?Subscribe Here! Mom 'stabs 3 of her kids to death and wounds 2 others in unsupervised visit', Daughter of murdered couple linked to Delphi case reveals paranoia, Serena Williams stepmom's debts continue to spiral amid crumbling home battle, Alex Murdaugh looks unrecognizable in new mugshot hours after sentencing, 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP. Jennifer, scared for her safety, entered a safe house. [4] Blockchain analysts have reported that they are unable to find evidence of Quadriga's cold wallets on the blockchain, a public ledger used for cryptocurrencies. You transferred them $1,000 and you could see the crypto in your account. Some have speculated his death was a clever ruse and there have been calls to have his body exhumed to prove it was a "fake". Despite no concrete evidenceindeed, the murdered mans first name was not the same as Robertsons ex-husband, some angry investors lobbed death threats at Jennifer, convinced that she had murdered Cotten, too. "Once I deposited it, it was basically gone.". A C$24.7 million disbursement fund has been planned with C$300,000 to go to Cotten's widow, Jennifer Robertson, who advanced that amount to start the court proceedings; C$200,000 will go to Ernst & Young and another C$250,000 to its lawyers; C$229,842 will go to Quadriga's lawyers; and C$17,000 to independent contractors. CRYPTO scams are popping up all over the internet. 29 2022, Published 3:03 p.m. But Cotten was a bad trader: losing money hand over fist, he gambled away about $150 million of customer funds. [1], The company's CEO and founder, Gerald William Cotten, allegedly died in 2018 after traveling to India. Then the Ontario Securities Commission opened an investigation. The user said that he left the company in 2016, and that the company was legitimate at the time. https://bit.ly/3cAIH4j Newest Vid's https://bit.ly/3JkFmEqFollow Us On Facebook https://bit.ly/3oh5cS8Gerald Cotten or Gerry Cotten's life and tragic passing are shrouded in mystery. The teen, a bright computer enthusiast from Belleville, Ontario, ran the operation on an online forum called TalkGold, and promised his investors inconceivable returns of up to 150 per cent in two days. Gerald Cotten Still Alive ? Two years after Liberty Reserve was taken down, the pair launched Quadriga, though Mr Patryn left the company in 2016 over a dispute on whether to list the company publicly and claims no involvement in the resulting schemes. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). "So far, nothing's been found. Is Gerald Cotten really dead? Sam, Bangs & Moonshine by Evaline Ness (Holt). His death certificate spells his name wrong, he was supposedly buried in a closed casket in Canada even though there is no evidence his body was ever moved from India and why would it need to be a closed casket? There's only two people who really know what happened in India. He is believed to have carried out Ponzi scheme scams since he was just 15 - such as playing a role in pre-crypto digital token eGold, according to investigator Amy Castor. A big chunk of it was given to him by his parents. I put myself into a deep hole and the only way to dig out of it was to sell my house.. Front Burner- Inside Canada's Crypto Mystery, Hot Docs Canadian International Documentary Festival, Trust No One: The Hunt for the Crypto King, "Investigation of Quadriga cryptocurrency debacle turns up only $28 million in assets", "Nothing sinister about bitcoin company CEO's sudden death, friend says", "Troubled Bitcoin trader QuadrigaCX takes another bizarre turn", "Canada's largest cryptocurrency exchange Quadriga seeks creditor protection", "Bitcoin Accounts for 95% of Cryptocurrency Crime, Says Analyst", "Crypto-Exchange Says It Can't Pay Investors Because Its C.E.O. https://www.blackhatworld.com/seo/hiring-a-programmer-website-like-bitstamp-bitcoin-trading-project.605236/. Citing decomposition concerns, lawyers requested the exhumation be completed no later than spring 2020. Cotten's sudden death in 2018 led to the disappearance of millions of dollars worth of his investors' Bitcoin funds. Cotten had allegedly told his wife he would create a mechanism that would allow her to access all of his crypto-related passwords should he die but. November 28, 2022 by Nurudeen. Following Quadrigas implosion in 2019, it was investigated by the Ontario Securities Commission, which concluded that, "what happened at Quadriga was an old-fashioned fraud wrapped in modern technology. The podcast was reported by Aaron Lammer and Lane Brown.[55]. [21], Throughout 2018, as Bitcoin prices crashed, customers of the exchange reported delays when attempting to withdraw dollars. Then in January, 2019, Cottens wife Jennifer Robertson announced that he had died a month earlier. [3][4][5], Quadriga likely never invested the funds entrusted to it, according to Chainalysis, a cryptocurrency tracking firm. [11] Lawyers for the customers of the exchange have asked that Cotten's body be exhumed.[12]. Here Is Why People Think Gerald Cotten Is Still Alive. In other news, Attack on Titan Season 4 Part 4 to release Fall 2023, confirms new trailer, Trust No One: The Hunt for the Crypto King | Official Trailer | Netflix, https://i.ytimg.com/vi/vW2BPQ15OSw/hqdefault.jpg. Cotton's sudden death from complications of Crohn's disease aged 30 shocked the crypto world - but many believe he may have faked his death in an elaborate "exit scam". [16] In 2014 only C$7.4 million worth of bitcoin were exchanged on Quadriga. Netflix announced an upcoming documentary about the Quadriga Bitcoin saga and the death of CEO Gerald Cotten. **Warning Spoilers ahead for Trust No One: The Hunt for the Crypto King**. Trust No One: The Hunt for the Crypto King is now streaming on Netflix. We explain how to spot them. The documentary follows a group of Quadriga investors turned sleuths who dig into the suspicious death of Cotten and the millions of missing cryptocurrency they believe Cotten stole from them, according to a tweet from Netflix announcing the film. The Globe and Mail reporters were on the case, and used photos to conclude that they were the same person. Start your Independent Premium subscription today. Likewise, the public was not much intrigued about their lives up until . [38][39], According to some of Cotten's family members, there was a crypto "Dead man's switch" that would provide Quadriga with operating information in the event of his death; however, "neither the monitor nor others involved with the organization are aware of a dead-man switch email having been received. So far, only about $46 million has been recovered. , one of the co-founders, registered the domain name for QuadrigaCXnot Gerry. I personally believe that Cotten is not dead but I would like to hear from people who know more than me about this topic and what they think about the situation. She says she never received the passwords. "[40][41], Ernst & Young found five Quadriga cold wallet addresses, but they were empty, containing no cryptocurrency since April 2018. Was a recently-active Skype account proof he was still alive? In that case, $851 million entrusted to Crypto Capital had been "lost, stolen or absconded with", according to the suit. [28], Quadriga used an unusual teller-window system for customers to withdraw their money. TRUST NO ONE: THE HUNT FOR THE CRYPTO KING, a DONT F*CK WITH CATS-style investigative thriller, is now streaming on Netflix. He was 30-years-old. It was alleged that Patryn was involved in a money-laundering ring under a different nameOmar Dhanani. He was able to keep the venture, called S&S Investments, going for three months, before it folded and investors money was gone. Quadriga's accounts are estimated to have held 190million ($250million). Up to C$250 million (US$190 million) in cryptocurrency owed to 115,000 customers was missing[2] or could not be accessed because only Cotten held the password to off-line cold wallets.

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