Fifteen years later, Mr Cotten, known as Gerry, would be accused of swindling people online of a much bigger prize. 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. [47], Gerald Cotten's widow has maintained that she knew nothing about her husband's activities and agreed to forfeit $12 million in assets. Supposedly, Cottens business associates didnt even know he was married. 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. Cbc.ca. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). We explain who Gerald Cotten is, the subject of this documentary, and reveal where he is now, including the mystery surrounding his downfall. Wood ordered a "30-day stay that precludes filing of claims against Quadriga", which is a temporary legal protection from its creditors under the Companies' Creditors Arrangement Act, a legal status that allows insolvent corporations to restructure their business and financial affairs. Some evidence suggested that Jennifer, if real, was acting strangely. goes to Cottens hospital in India to put the whole fake death thing to bed. But when the banks, the law, and the. Supposedly, Cottens business associates didnt even know he was married. The 33-year-old has attempted to get his money back in a lawsuit, but hasn't had any luck as yet. So, Patryn: shit-stirrer, criminal mastermind or another one beguiled by Cotten? In November 2018 the case was decided with the accounts going to the court to decide the ownership individually. The OSC found that after 2016, QuadrigaCX stopped producing consistent data about its holdings, and that large volumes of cryptocurrencies were being sent to foreign crypto exchanges. Retrieved 18 January 2022. So, Patryn: shit-stirrer, criminal mastermind or another one beguiled by Cotten? Gerald Cotten, 30, held the virtual keys to a whopping $137 . Cotten's sudden death in 2018 led to the disappearance of millions of dollars worth of his investors' Bitcoin funds. reporters had a hunch that this was Gerry Cotten, and traced the account to another online den of thieves, BlackHatWorld. No longer a likable nerd, investors thought that Gerald, now sceptre, had been operating scams since he was 15. 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. Email us at tech@the-sun.co.uk, Ring removes free perks for millions of users, you'll have pay to get them back, Android users told check for five Google 'danger phrases' don't ignore list, Facebook's hidden list reveals if you're a 'target' for criminals, People are just realizing Apple upgraded the iPhone with 7 life-changing secrets, 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP, Tong Zou tells his devastating story in new Netflix doc, Gerald 'Gerry' Cotten died in 2018, taking password to access funds with him. Gerald Cotten. He died just nine days into his honeymoon due to an acute stomach ache. Even after Cotten's death news, some people still believe that he is alive, and one of the main reasons is because of his mysterious death. Was Patryn, whom employees described as a macho, terrifying character, calling the shots, not Cotten? It left Robertson the entire C$9.6-million estate and named her as the trustee. I really prayed it wasn't a scam. Gerald Cotten had an estimated net worth of $80 million at the time of his death. Cotton took with him to the grave the keys that allowed access to the digital vault containing his investors cash that they had ploughed into Quadriga CX. Netflix's 'Trust No One: The Hunt for the Crypto King' explores the story of Gerald Cotten, founder and CEO of Canadian crypto exchange business QuadrigaCX, whose passed away unexpectedly in 2018. 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. [17] Michael Gastauer, Chief Executive of WB21, has been named in a civil lawsuit by the U.S. Securities and Exchange Commission as part of a US$165 million fraud. And not even he thinks that Gerald is deadnor did he ever meet his wife. Likewise, the public was not much intrigued about their lives up until . Mar. Miller Thomson LLP sent a letter to the Royal Canadian Mounted Police on Friday, requesting authorities conduct an exhumation and postmortem autopsy on the body of Gerald Cotten, founder of QuadrigaCX, citing what the firm called the questionable circumstances around his death earlier this year. No one but him can access accounts, he ran a whole market on a laptop by himself with no other employees or partners anymore so only he could access it and he suddenly dies when he would be in massive debt for delayed payments and would likely be convicted for fraud or money laundering. [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. 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. Netflix has seen a boom with its true-crime docuseries, from 'Tiger King' to 'Making a Murderer.' , and found an affidavit from Robertson saying that she didnt understand how QuadrigaCX operatedeven though one of Robertsons companies later wired cash to some of Quadrigas customers. The user said that he left the company in 2016, and that the company was legitimate at the time. Its the swindler story you havent heard of until now. Thats when the. Cotten also took flying lessons as he appeared to be possibly preparing for a life on the run. Then, out of the blue, one Mike Patryn joined the Telegram group that investors were using to discuss conspiracies. [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. April 2, 2022 Netflix Nobody was expecting Gerald Cotten, the CEO of Canadian Bitcoin exchange QuadrigaCX, to die at 30. "[18], The company tried to raise money and list on the Canadian Securities Exchange (CSE) working with Patryn. as well as other partner offers and accept our. Uncertainty about the missing funds has fueled speculation that Cotten may still be alive. I believe this is the reason why Quadriga could be formed because they made a fortune from Scamming before Quadriga. [19] Other than a few contractors, it had no employees, offices or bank accounts thereafter. Stay up to date with what you want to know. Jilted investors in a defunct cryptocurrency company want to confirm the death of the business's founder by exhuming his remains. Gerald Cotten Still Alive ? But, due to the strict security of crypto, we may never know. And why did the Indian hospital that treated Cotten misspell his name on his death certificate? 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. To add credence to the theory that he faked his own death and is still alive, Bloomberg reported that the crypto exchange founder filed his will just 12 days before he apparently died. I could have put it in stocks. Thinking that Jennifer had murdered Cotten, the Telegram group spiraled out of control. [53], A Netflix documentary titled Trust No One: The Hunt for the Crypto King about the story of Gerald Cotten was released in March 2022. It sucks.". Sam, Bangs & Moonshine by Evaline Ness (Holt). [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. Then, the crypto millionaire suddenly died in India from complications from Crohn's disease about three years ago. [48], On 5 February 2019, Nova Scotia Supreme Court Justice Michael J. Given the mysterious circumstances of his deathand the enormous amount of money he controlledits no surprise that conspiracies quickly sprang up in an attempt to piece together the puzzles around his death. Robertson has denied any knowledge of her husband's wrongdoing - and in 2019 returned $9million to the company to repay users. 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. Gerald Cotten. California (2) Massachusetts (1) Texas (2) Refine Your Search Results. In that case, $851 million entrusted to Crypto Capital had been "lost, stolen or absconded with", according to the suit. 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. Disclosure: Mathias Dpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member. According to an investigation by Canada's Globe and Mail, Cotten. 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. "At that point, we were desperate to recover funds and we were also convinced that a scam was underway," said QCX-INT, an individual who uncovered online documentation of Mr Cottens history of fraudulent behaviour, speaking anonymously to the CBC this year. Netflixs documentary definitely seems to be in the corner that Cotten did die, despite the mystery surrounding his death. Then the Ontario Securities Commission opened an investigation. [34][35], On 14 January 2019,[36] Quadriga announced that their CEO, Gerald Cotten, had died the month prior from Crohn's disease while doing volunteer work at an orphanage in India. The circumstances are dodgy that they chose to honeymoon to India and he suddenly dies from complications of Crohn's disease. Access your favorite topics in a personalized feed while you're on the go. All Filters. 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. - Watch Full Details ! However, in 2018, Bitcoin prices crashed and many began withdrawing their funds from Quadriga, except they were being met with error messages before the exchanges website stopped working in 2019. We just send money from our Bitcoin app directly to those paper wallets, and keep it safe that way. You get rid of a lot of the regulations, he said on a podcast in 2014. His death certificate was issued by the Indian authorities and contains an incorrect spelling of his name. The mystery of Cotten and Quadriga is now the subject of podcasts Exit Scam and A Death In Cryptoland. A NEW documentary on rogue crypto trader Gerald Cotton, who took up to $215million in Bitcoin and other digital currencies to his grave, has sparked rumours he may have faked his death. Jennifer RobertsonGerry Cotten,. Jennifer, scared for her safety, entered a safe house. 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. At first, the now-closed company allegedly blamed the delay on a legal issue with a bank. #GeraldCotten #QuadrigaCX #Netflix #truecrime #wherearetheynow #gerrycotten #crypto #fraud #docuseries #truestory #biography #whathappenedto ------------------------------------IN THIS VIDEO:Sierra Walker ------------------------------------PRODUCER \u0026 FILMED BY:Chris Stiuso------------------------------------VIDEO EDITED BY:Brianna Raakman: https://www.instagram.com/brianna_raakman/ It just wasnt there. She has also said she has no idea what the passwords are to access sequestered customer funds, and that it wasnt written down anywhere. Cotten and Patryn's past: He's also been linked to many other "Cryptocurrency markets" in the past with his old partner Patryn who has changed his name twice because he was charged with laundering money. Some 76,000 investors like Zou collectively lost out. Resides in Beverly Hills, CA. The podcast was reported by Aaron Lammer and Lane Brown.[55]. (India is notorious for forging fake death certificates by paying people off). In 2019 the exchange ceased operations and the company filed for bankruptcy with C$215.7 million in liabilities and about C$28 million in assets. Image Credit: CTV Your Morning/YouTube. I ended up losing my life savings I lost $400,000, Tong Zou, a tech worker quoted in the film, says. Gerald Cotten died suddenly of Crohn's disease - or did he? Do you have a story for The Sun Online Tech & Science team? And for some, things still looked suspicious. Was a recently-active Skype account proof he was still alive? TRUST NO ONE: THE HUNT FOR THE CRYPTO KINGFollow a group of investors turned sleuths as they try to unlock the suspicious death of cryptocurrency multimillionaire Gerry Cotten and the missing $250 million they believe he stole from them. And, wildly, was Jennifer, his wife, even real? 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. But months later, customers still couldnt take their money out. 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. Netflix Special on Bitcoin Fraudster Gerald Cotten, His Wife, and QuadrigaCX. Lawyers for customers of an insolvent cryptocurrency exchange have asked police to exhume the body of the companys founder, amid efforts to recover about $190m in Bitcoin which were locked in an online black hole after his death. For instance, had Cottens death certificate, which spelled his name as Cott, , been faked? They reported that Jennifer said she couldnt get into Cottens laptops, and found an affidavit from Robertson saying that she didnt understand how QuadrigaCX operatedeven though one of Robertsons companies later wired cash to some of Quadrigas customers. TRUST NO ONE: THE HUNT FOR THE CRYPTO KING, a DONT F*CK WITH CATS-style investigative thriller, is now streaming on Netflix.
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