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The public didnt learn about the death for another 36 days, until January 2019. California (2) Massachusetts (1) Texas (2) Refine Your Search Results. Gerald Cotten, 30, held the virtual keys to a whopping $137 . It was one of the only games in town [for crypto enthusiasts], Sheona McDonald, who directed the film, told The New York Post. Sam, Bangs & Moonshine by Evaline Ness (Holt). Shortly after, the exchange stopped working entirely. I put myself into a deep hole and the only way to dig out of it was to sell my house.. Trust No One: The Hunt for the Crypto King is now streaming on Netflix. However, it was eventually discovered that Gerald had transferred all of his belongings to his wife before his death. [33] Aaron Matthews served as Director of Operations. [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. "What Quadriga really did with the money that customers gave it to buy Bitcoin remains a mystery," according to Chainalysis. There is a clear lesson here that having a single person owning this information creates a huge vulnerability.. All Filters. But even the forensic accountants only managed to trace $46 million of the total $215 million customers had deposited onto the exchange. Check out: Personal Finance Insider's picks for best cryptocurrency exchanges. Some also believe that Gerald isnt even dead at all but rather hiding away with the hundreds of millions of dollars he controlled. ", 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. lets break it all down. You get rid of a lot of the regulations, he said on a podcast in 2014. It was a perfect match, sparked up on Tinder, she said in the documentary. By Robin Hill-Gray. Something was afoot. He was able to keep the venture, called S&S Investments, going for three months, before it folded and investors money was gone. Gerald 'Gerry' Cotten died in 2018, taking password to access funds with him Credit: Netflix. For instance, had Cottens death certificate, which spelled his name as Cottan, been faked? 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. Disclosure: Mathias Dpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member. More than three years after the sudden death of Quadriga CEO Gerald Cotten and the revelations that the company was a massive cryptocurrency scam, his widow,. Netflix Special on Bitcoin Fraudster Gerald Cotten, His Wife, and QuadrigaCX. Everyone knows the story about the now-defunct QuadrigaCX . [17][20], In 2017, Bitcoin experienced a speculative frenzy rising in price from about US$1,000 to almost US$20,000. When Quadriga CEO Gerald Cotten died suddenly in 2018, the passcodes for his cryptocurrency exchange died with him. 4 people named Gerald Betzen found in California, Texas and Massachusetts. Here's my take on Gerald Cotten and his suspicious death. Access your favorite topics in a personalized feed while you're on the go. [31], Robertson filed an affidavit on behalf of the company which included a "Statement of Death" for Cotten, filed in Halifax, Nova Scotia, on 12 December 2018. Either this is a 1 in 100 million coincidence or he is still alive. It apparently had no formal accounting system. 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. 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. There were other problems around that time. Image Source: Social Media. Then, as their accounts accumulated hundreds of millions of dollars, Gerald passed unexpectedly, taking the passwords to the accounts to his grave. Gerald Cotten. "Once I deposited it, it was basically gone.". Thinking that Jennifer had murdered Cotten, the Telegram group spiraled out of control. He appointed Peter Wedlake of Grant Thornton to be chief restructuring officer. It was alleged that Patryn was involved in a money-laundering ring under a different nameOmar Dhanani. Cotten's sudden death in 2018 led to the disappearance of millions of dollars. TRUST NO ONE: THE HUNT FOR THE CRYPTO KING, a DONT F*CK WITH CATS-style investigative thriller, is now streaming on Netflix. It's clear to me that Cotten gave himself millions of dollars worth of crypto as the owner to trade people fake crypto and give himself millions of dollars. [42], Quadriga continued to accept deposits until 26 January. My sisters not a liar.. The Netflix documentary will follow investors-turned-investigators looking into theories on the founder's sudden death. Things began to sour, however, in 2018, when the price of Bitcoin collapsed. Jennifer RobertsonGerry Cotten,. Its the swindler story you havent heard of until now. Gerald Cotten. Netflix has seen a boom with its true-crime docuseries, from 'Tiger King' to 'Making a Murderer.' His clients were locked out of about $250 million, and investigators later. Then you get rid of the fees. Then, out of the blue, one Mike Patryn joined the Telegram group that investors were using to discuss conspiracies. Subsequent investigations found that Michael Patryn, one of the co-founders, registered the domain name for QuadrigaCXnot Gerry. His wife Jennifer Robertson said he had promised to create a mechanism that turned thepasswords over to her when he died. Still, all this evidence was circumstantialinvestors hadnt yet found a smoking gun. https://www.blackhatworld.com/seo/hiring-a-programmer-website-like-bitstamp-bitcoin-trading-project.605236/. The user said that he left the company in 2016, and that the company was legitimate at the time. 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. And for some, things still looked suspicious. Jennifer Robertson, the widow of QuadrigaCX founder Gerald (Gerry) Cotten, will be allowed to keep more than $90,000 cash and a Jeep Cherokee in a settlement agreement with the company's bankruptcy trustee. Some 76,000 investors like Zou collectively lost out. "[40][41], Ernst & Young found five Quadriga cold wallet addresses, but they were empty, containing no cryptocurrency since April 2018. I didnt know that Gerry was married, he says. 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. ^ "Quadriga CEO's widow speaks out over his death and the missing crypto millions". "[46] The Official Ontario Securities report on Quadriga is attached here. Conspiracy theorists insist that Cotten faked his own death, however, as many irregularities surrounding his death began to circulate, including a copy of his misspelled death certificate and the fact that his funeral had a closed casket. [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. CRYPTO scams are popping up all over the internet. 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. I just prayed. He hopes the Netflix doc will get authorities to "move their asses and do something about it" but also to raise awareness "so it doesn't happen to other people". In December of 2018, the jet-setting crypto couple headed to India for their honeymoon, where Mr Cotten died of complications from Crohns disease, 12 days after modifying his will. Likewise, the public was not much intrigued about their lives up until . Many believe that Cotten faked his death, however, as part of an exit scam to get away with stealing millions from Quadrigas customers. 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. seeks to unravel the mystery of Gerald Cotten, the CEO of crypto exchange QuadrigaCX, who died in 2018. She says she never received the passwords. When he was a 15-year-old in Belleville, Ont., Gerald Cotten was selling get-rich-quick schemes on online forums that taught him how to deceive investors and cover his tracks. Lawyers representing investors in what BBC. But, due to the strict security of crypto, we may never know. Rather than pay customers via bank wires, they were told to come to a nondescript building in Laval, Quebec to pick up the cash. 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. On this Wikipedia the language links are at the top of the page across from the article title. [3][4][5], Quadriga likely never invested the funds entrusted to it, according to Chainalysis, a cryptocurrency tracking firm. Lived In Los Angeles CA, Austin TX, Van Nuys CA . Their online exchange launched after the first month. [54], A 2021 8-episode podcast entitled Exit Scam followed the buildup of Quadriga, and investigated whether Gerald Cotten had faked his own death. 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. Quadriga Fintech Solutions was the owner and operator of QuadrigaCX, which was believed to be Canada's largest cryptocurrency exchange. 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. "I could have invested it in real estate. 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. 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. name was not the same as Robertsons ex-husband, some angry investors lobbed death threats at Jennifer, convinced that she had murdered Cotten, too. Investigations into the firm revealed that Mr Cotten made numerous fake accounts on Quadriga to influence trades on the platform, at one time being involved personally in 87 per cent of transactions. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). 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? 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. https://bit.ly/3cAIH4j Newest Vid's https:. An official investigation concluded that Quadriga was"an old-fashioned fraud wrapped in modern technology". Then it emerged that Jennifer had legally changed her name three times in the past few years, and a man sharing one of her former last names was at the center of an unsolved murder case. The firm launched in 2014 amid a spectacular rise in the price of cryptocurrencies like Bitcoin, and was handling $1 billion in trades by 2017. 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. Gerald Cotten died suddenly of Crohn's disease - or did he? A bitcoin mining operation in Saint Hyacinthe, Quebec. It stated that Gerald Cotten committed fraud by opening accounts under aliases and crediting himself with fictitious currency and crypto asset balances, which he traded with unsuspecting clients and that "What happened at Quadriga was an old-fashioned fraud wrapped in modern technology. [9][10], The Royal Canadian Mounted Police (RCMP) and the U.S. Federal Bureau of Investigation (FBI) were reportedly investigating the company. Was a recently-active Skype account proof he was still alive? Widow of Quadriga crypto founder Gerald Cotten says she had no idea about the $215-million scam In an exclusive interview, Jennifer Robertson speaks out publicly about her deceased husband,. Gerald 'Gerry' Cotten | FAKE Behind 'Hunt For The Crypto King' Netflix | Where Are They Now?Subscribe Here! It essentially removes the need for a central authority. ", He added: "We thought we were looking for basically a rich guy who had stolen money, Now either [Cotten is] dead, or if hes alive, hes a gambling addict whos broke.". Robertson has denied any knowledge of her husband's wrongdoing - and in 2019 returned $9million to the company to repay users. Customers reported that once they arrived, there was nobody in the office, or that there was no cash to be disbursed. "I couldn't get any sleep. The 33-year-old has attempted to get his money back in a lawsuit, but hasn't had any luck as yet. [6], Ernst & Young was appointed as an independent monitor while Quadriga was granted temporary legal protection from its creditors under the Companies' Creditors Arrangement Act. The only catch: only Gerry knew the passwords to the companys crypto-vaults. Cotten also took flying lessons as he appeared to be possibly preparing for a life on the run. But the money, of course, was still missing. Like other crypto-exchanges, Quadriga kept its funds in so-called cold wallets, digital storage devices not connected to the internet, which are safe from hacking. [15] He learned about Bitcoin in Toronto and travelled to Vancouver, British Columbia, where he founded Quadriga in November 2013 with Michael Patryn. There's only two people who really know what happened in India. Gerald Cotten was the founder of one of Canada's largest cryptocurrency exchanges, Quadriga CX. Gerald Cleophas Betzen, 68. Image Credit: CTV Your Morning/YouTube. But when co-founder Cotten died during a honeymoon in India, the money was seemingly lost forever. Attack on Titan Season 4 Part 4 to release Fall 2023, confirms new trailer, {{#media.media_details}} {{#media.focal_point}}. I'm new to this subreddit, I apologise if anything I have said breaks the rules. Citing decomposition concerns, lawyers requested the exhumation be completed no later than spring 2020. Here's a link to the BlackHat forum. Still, questions about the missing money only mounted when two. She has also said she has no idea what the passwords are to access sequestered customer funds, and that it wasnt written down anywhere. The company's CEO and founder, Gerald William Cotten, allegedly died in 2018 after traveling to India. 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. https://www.blackhatworld.com/seo/hiring-a-programmer-website-like-bitstamp-bitcoin-trading-project.605236/. Companies have backups, safeguards to protect against this kind of thing. Further complicating the matter the company's co-founder Michael Patryn was revealed to actually be a man named Omar Dhanani, who had previously been convicted in the US of identity fraud. Indian authorities maintain that Cotten, whose body was repatriated to Nova Scotia for a small closed-casket funeral, died on Dec. 9, 2018, shortly after checking into a luxury hotel in Jaipur. It certainly started to look like fraud, said one anonymous investor in the doc.