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[45], In June 2020, the Ontario Securities Commission officially concluded that Quadriga was indeed a fraud and a Ponzi scheme. The Crypto King, aka Gerald "Gerry" Cotten, died in 2018, but his mysterious death is still a subject of controversy today. The media dragged Gerald Cotten's wife, Jennifer Robertson, into the spotlight after his mysterious death. [30], According to Jennifer Robertson, Cotten's widow, he died on 9 December 2018 while travelling in India. The thing about conspiracy theories, though, is that they mutate out of control very quickly, and arent always reflective of the latest evidence. I didnt know that Gerry was married, he says. [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. 4 people named Gerald Betzen found in California, Texas and Massachusetts. He and his wife, Jennifer Robertson, jetted all over the world on private planes, visiting chic locales in Paris, Hawaii, and Morocco. 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. Companies have backups, safeguards to protect against this kind of thing. One of the Globe reporters had a hunch that this was Gerry Cotten, and traced the account to another online den of thieves, BlackHatWorld. reporters had a hunch that this was Gerry Cotten, and traced the account to another online den of thieves, BlackHatWorld. "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. [9][10], The Royal Canadian Mounted Police (RCMP) and the U.S. Federal Bureau of Investigation (FBI) were reportedly investigating the company. Cotten also took flying lessons as he appeared to be possibly preparing for a life on the run. The public didnt learn about the death for another 36 days, until January 2019. 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. 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. 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. Still, questions about the missing money only mounted when two Globe and Mail reporters followed up on the case. lets break it all down. Cbc.ca. A Canadian bank froze another $21 million of funds. TRUST NO ONE: THE HUNT FOR THE CRYPTO KING, a DONT F*CK WITH CATS-style investigative thriller, is now streaming on Netflix. So far, only about $46 million has been recovered. He appointed Peter Wedlake of Grant Thornton to be chief restructuring officer. Stay up to date with what you want to know. firms", "What happens when your bitcoin banker dies? (India is notorious for forging fake death certificates by paying people off). that after 2016, QuadrigaCX stopped producing consistent data about its holdings, and that large volumes of cryptocurrencies were being sent to foreign crypto exchanges. Gerald 'Gerry' Cotten | FAKE Behind 'Hunt For The Crypto King' Netflix | Where Are They Now?Subscribe Here! [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. Trust No One: The Hunt for the Crypto King is now streaming on Netflix. His wife Jennifer Robertson said he had promised to create a mechanism that turned thepasswords over to her when he died. Sam, Bangs & Moonshine by Evaline Ness (Holt). 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. 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. Forensic accountants discovered that Gerry was trading against fake users, crediting their account with fake currencies and pocketing the cash, using the proceeds to play the crypto market. [42], Quadriga continued to accept deposits until 26 January. Mar. [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. In that case, $851 million entrusted to Crypto Capital had been "lost, stolen or absconded with", according to the suit. An official investigation concluded that Quadriga was"an old-fashioned fraud wrapped in modern technology". Was, whom employees described as a macho, terrifying character, that Patryn was involved in a money-laundering ring under a different name, Then, out of the blue, one Mike Patryn joined the Telegram group that investors were using to discuss conspiracies. It was alleged that Patryn was involved in a money-laundering ring under a different nameOmar Dhanani. X-rays. 5 Netflix's latest true crime doc, "Trust No One: The Hunt for the Crypto King", seeks to unravel the mystery of Gerald Cotten, the CEO of crypto exchange QuadrigaCX, who died in 2018. [17][29] Bloomberg also identified Patryn as Dhanani, showing that he had officially changed his name from Omar Dhanani to Omar Patryn in British Columbia in March 2003 and changed it again to Michael Patryn in October 2008. 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,. Everyone knows the story about the now-defunct QuadrigaCX . - October, November, December - during all that time," he said. [42] Another three empty wallets were believed to possibly be owned by Quadriga. [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. There is a clear lesson here that having a single person owning this information creates a huge vulnerability.. Another "appears to have been used to receive Bitcoin from another cryptocurrency exchange account and subsequently transfer Bitcoin to the Quadriga hot wallet" on 3 December. 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, Jennifer Robertson, tells her side of the story.#Quadriga #GeraldCotten #BitcoinWatch The National live on YouTube Sunday-Friday at 9 p.m. ETSubscribe to The National: https://www.youtube.com/user/CBCTheNational?sub_confirmation=1Connect with The National online:Facebook | https://www.facebook.com/thenationalTwitter | https://twitter.com/CBCTheNationalInstagram | https://www.instagram.com/cbcthenationalMore from CBC News | https://www.cbc.ca/newsThe National is CBC's flagship nightly news program, featuring the day's top stories with in-depth and original journalism, with hosts Adrienne Arsenault and Andrew Chang in Toronto, Ian Hanomansing in Vancouver and the CBC's chief political correspondent, Rosemary Barton in Ottawa. [33], Cotten's will was signed 27 November 2018, twelve days before he allegedly died. She had accompanied him to a hospital in Jaipur the previous day and he was diagnosed with septic shock, perforation, peritonitis, and intestinal obstruction. 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. Image Credit: CTV Your Morning/YouTube. The business was run from Cotten's encrypted laptop from Cotten's home in Fall River, Nova Scotia. And why did the Indian hospital that treated Cotten misspell his name on his death certificate? "[18], The company tried to raise money and list on the Canadian Securities Exchange (CSE) working with Patryn. His will was signed off just two weeks before he and wife Jennifer Robertson travelled to India on their honeymoon. Gerald 'Gerry' Cotten | FAKE Behind 'Hunt For The Crypto King' Netflix | Where Are They Now?Subscribe Here! Gerald Cotten, who was born on May 11th, 1988, was raised in Belleville, Ontario, before relocating to Toronto to enroll at York University's Schulich School of Business. CIBC stated that they could not determine the ownership of the money and could not contact Cotten or Quadriga. Jennifer, scared for her safety, entered a safe house. The 33-year-old has attempted to get his money back in a lawsuit, but hasn't had any luck as yet. Robertsons sister, for the record, doesnt think that Cotten had fabricated his relationship with Jennifer. "Trust No One: The Hunt for the Crypto King". https://www.blackhatworld.com/seo/hiring-a-programmer-website-like-bitstamp-bitcoin-trading-project.605236/. [37] According to an affidavit by the CEO's widow, approximately 115,000 customers are owed C$250 million (US$190 million), most of which was cryptocurrency held in Quadriga's cold wallet in the laptop that only the deceased CEO had access to. 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. "It did become an obsession.. Have something to tell us about this article? Still, all this evidence was circumstantialinvestors hadnt yet found a smoking gun. But, due to the strict security of crypto, we may never know. All that money vanished into the crypto ether and only once investigations occured did people start to think that it may have been a scam all along. Cotten's widow has rarely spoken publicly, but in an affidavit has described herself as being subject to "slanderous comments" over accusations her husband faked his death. G erald Cotten was 15 when he ran his first documented get-rich-quick scheme. Netflixs documentary definitely seems to be in the corner that Cotten did die, despite the mystery surrounding his death. According to the documentary, thats around the time that Cotten started to invest his money in islands, cars and property, traveling the world while running his exchange. Gerald Cotten was the founder of one of Canada's largest cryptocurrency exchanges, Quadriga CX. This was my entire savings, built through ten years of work, said one disgruntled customer in the doc. Gerald Cotten was the talk of the cryptocurrency world in Canada after he introduced QuadrigaCX, a place where investors could buy and sell cryptocurrency. Some evidence suggested that Jennifer, if real, was acting strangely. My sisters not a liar.. On 10 December, a death certificate was issued by the local municipality as well as a "no objection certificate" from the police to return the body to Nova Scotia. Given the intrigue, some went so far as to question whether Mr Cotten had really died and demanded his body be exhumed. So the. CRYPTO scams are popping up all over the internet. 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. He graduated from York with a bachelor of business administration in 2010. "You appear dead for a few days, until you get the cure," the source said. 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. 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. Gerald and Jennifer kept most of their relationship away from the public. The dude literally said that comment as a complete joke, and I even . [54], A 2021 8-episode podcast entitled Exit Scam followed the buildup of Quadriga, and investigated whether Gerald Cotten had faked his own death. His body was repatriated to Canada and a funeral was held in Halifax, Nova Scotia. Browse Locations. 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. Still, questions about the missing money only mounted when two. So, Patryn: shit-stirrer, criminal mastermind or another one beguiled by Cotten? Someone tracked Patryn to a scam forum called TalkGold, where Patryn talked to one user in particular, sceptre, a bunch. However, it was eventually discovered that Gerald had transferred all of his belongings to his wife before his death. 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. By Robin Hill-Gray. Quadriga's customers are owed C$260 million in cryptocurrency and cash. The crypto entrepreneur bought increasingly lavish purchases: a $600,000 yacht, a high-end Lexus, 17 homes in Canada, a plane. [17], Ernst & Young reported on 6 February 2019 that C$468,675 (US$354,300) of bitcoin were "inadvertently" sent to an inaccessible cold wallet. Despite repeated and diligent searches, I have not been able to find them written down anywhere, she said in court filings. The OSC. #GeraldCottenReallyDead #GeraldCottenStillAliveGerald Cotten Really Dead ? He passed away in 2018 with the secret of $250 million. Then, out of the blue, one Mike Patryn joined the Telegram group that investors were using to discuss conspiracies. Soon after his death, however, reports surfaced that nearly 80,000 users of QuadrigaCX at the time Canadas largest cryptocurrency exchange were unable to access funds totalling more $190m. Cotten passed away from complications that arose from Crohn's disease while on a honeymoon in Indiaapparently taking some $215 million of customer funds to the grave. Gerald Cotten, 30, held the virtual keys to a whopping $137 . A sneak preview of the Netflix doc contains images that suggest the documentary will show the investors dive deeper into these conspiracies. Cotten was the only one with access to necessary permissions. Many believe that Cotten faked his death, however, as part of an exit scam to get away with stealing millions from Quadrigas customers. 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". He launched QuadrigaCX in 2013, and it quickly became one of the largest crypto exchanges. So what exactly happened to Cotten, and is he still alive somewhere sitting on a mountain of stolen crypto? Attack on Titan Season 4 Part 4 to release Fall 2023, confirms new trailer, {{#media.media_details}} {{#media.focal_point}}. goes to Cottens hospital in India to put the whole fake death thing to bed. Things began to sour, however, in 2018, when the price of Bitcoin collapsed. The teen, a bright computer enthusiast from Belleville, Ontario, ran the operation on an online forum called TalkGold . Though some dont believe Mr Cotten is really gone, the money from Quadriga is. 29 2022, Published 3:03 p.m. [17], In 2016, Cotten became the sole director of Quadriga when all the other directors resigned. ET. Cotten encrypted and stored about $190 million worth of his customers' Bitcoin caches and held sole responsibility for the passwords needed to access those funds. 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. "At that time, there was nothing I could do. Reported by Fansided, Globe and Mail journalist Nathan Vanderklippe spoke to Dr. Sharma, who dealt with Cotten when he came into the hospital. 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.