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Companies have backups, safeguards to protect against this kind of thing. Is Gerald Cotten really dead? 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. 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. The couple were on their honeymoon in India, where Jennifer had dreams of opening an orphanage. 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. Was Patryn, whom employees described as a macho, terrifying character, calling the shots, not Cotten? Gerald Cleophas Betzen, 68. And for some, things still looked suspicious. Jennifer, scared for her safety, entered a safe house. Bitcoin fraudster's widow breaks silence about the missing crypto Indeed, QuadrigaCX launched just three months after sceptre put out a call to build a crypto exchange. Fake trading: I'm almost certain that he was trading with fake crypto, Chris Markay was one of the accounts that Cotten used to trade his "crypto" he also is known to have other aliases Sceptre Gerry, Aretwo Deetwo and Seethree Peaohh. 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. started to be convinced that he was dead, after all. 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,. [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. 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. [33], Cotten's will was signed 27 November 2018, twelve days before he allegedly died. 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. 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. He died just nine days into his honeymoon due to an acute stomach ache. One source in the doco goes as far as to claim Cotton may have used a substance known as "Haitian zombie powder" to fake his death. [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. 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. Cops believe that Quadriga CX was actually an wide-ranging Ponzi scheme - and Cotten would use fake accounts under the name "Chris Markay" to "buy" his customers Bitcoin using fake cash. April 2, 2022 Netflix Nobody was expecting Gerald Cotten, the CEO of Canadian Bitcoin exchange QuadrigaCX, to die at 30. 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". [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. The two first met in November 2014 and had been together for some time before tying the knot in October 2018. Gerald Cotten. Jennifer Robertson (Quadriga) - Wikipedia After some more digging, the reporter found an order form filled out by one Gerald Cotten. It certainly started to look like fraud, said one anonymous investor in the doc. [3][4][5], Quadriga likely never invested the funds entrusted to it, according to Chainalysis, a cryptocurrency tracking firm. at the time Canadas largest cryptocurrency exchange, Gerald Cotten, 30, died in questionable circumstances, Canadian company founder took crucial password to the grave. [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. 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. Netflix announced an upcoming documentary about the Quadriga Bitcoin saga and the death of CEO Gerald Cotten. 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. Check out: Personal Finance Insider's picks for best cryptocurrency exchanges. 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. The only catch: only Gerry knew the passwords to the companys crypto-vaults. 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. In November 2018 the case was decided with the accounts going to the court to decide the ownership individually. The business was run from Cotten's encrypted laptop from Cotten's home in Fall River, Nova Scotia. Despite repeated and diligent searches, I have not been able to find them written down anywhere, she said in court filings. 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. 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. Supposedly, Cottens business associates didnt even know he was married. 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. A C$100,000 trust fund was made to provide lifelong care for Cotten's two chihuahuas in case of Robertson's death. Gerald died while on a honeymoon with his wife Jennifer in India, Cotten has been recast since his death as a thrill-seeking scammer, Michael Patryn - real name Omar Dhanani - had previously been convicted of identity fraud, Bitcoin miner electrocuted to death by his computer after forcing it to churn out endless amounts of crypto. seeks to unravel the mystery of Gerald Cotten, the CEO of crypto exchange QuadrigaCX, who died in 2018. pic.twitter.com/rGymJ5f9Or. "You appear dead for a few days, until you get the cure," the source said. [47], Gerald Cotten's widow has maintained that she knew nothing about her husband's activities and agreed to forfeit $12 million in assets. The teen, a bright computer enthusiast from Belleville, Ontario, ran the operation on an online forum called TalkGold . Customers reported that once they arrived, there was nobody in the office, or that there was no cash to be disbursed. Though some dont believe Mr Cotten is really gone, the money from Quadriga is. "I could have invested it in real estate. Obituary -Gerald Cotten Wife, Death Cause, Alive or Death? Wikipedia Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. It left Robertson the entire C$9.6-million estate and named her as the trustee. The dude literally said that comment as a complete joke, and I even . Cotten passed away from complications that arose from Crohns disease while on a honeymoon in Indiaapparently taking some $215 million of customer funds to the grave. The accounting firm Ernst & Young, tasked with auditing the company as it undergoes bankruptcy proceedings, discovered numerous money-losing trades executed by Cotten, using customers funds. According to an investigation by Canada's Globe and Mail, Cotten. So, Patryn: shit-stirrer, criminal mastermind or another one beguiled by Cotten? Investors want QuadrigaCX founder Gerald Cotten's remains exhumed How did Gerald Cotten die? A Quadriga mystery, from India to Canada and One of the Globe reporters had a hunch that this was Gerry Cotten, and traced the account to another online den of thieves, BlackHatWorld. "Trust No One: The Hunt for the Crypto King". His wife Jennifer Robertson said he had promised to create a mechanism that turned thepasswords over to her when he died. His death sparked online debates and string theories on Reddit and. Gerald Cotten is allegedly meant to have died from Crohns disease after the exchange crashed. Overcast with rain showers at times. [54], A 2021 8-episode podcast entitled Exit Scam followed the buildup of Quadriga, and investigated whether Gerald Cotten had faked his own death. 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.. Where Is Gerald Cotten Now? - Vimbuzz.com He was able to keep the venture, called S&S Investments, going for three months, before it folded and investors money was gone. [7][8] On 8 April 2019 the firm entered bankruptcy under the Bankruptcy and Insolvency Act as the possibility of a successful reorganization appeared to be remote. QuadrigaCX's Crypto Accounts Were Emptied Months Before CEO's Either the funds were never received or quickly went missing. But even the forensic accountants only managed to trace $46 million of the total $215 million customers had deposited onto the exchange. Living a jet set life, he cruised the world on yachts, flew in private jets and investigators even released photos of piles of cash on his kitchen table. 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. 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. Sam, Bangs & Moonshine by Evaline Ness (Holt). 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. (India is notorious for forging fake death certificates by paying people off). So what exactly happened to Cotten, and is he still alive somewhere sitting on a mountain of stolen crypto? Gerald died while on a honeymoon with his wife Je Their online exchange launched after the first month. [1], The company's CEO and founder, Gerald William Cotten, allegedly died in 2018 after traveling to India. Gerald Cotten, 30, died abruptly in December 2018 of complications relating to Crohn's disease while on honeymoon in Jaipur, India, with his wife, Jennifer Robertson. He was 30-years-old at the time of his death. What really happened to Gerald Cotten, Netflix's Crypto King? Still, all this evidence was circumstantialinvestors hadnt yet found a smoking gun. [42], Quadriga continued to accept deposits until 26 January. 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. For instance, had Cottens death certificate, which spelled his name as Cott, , been faked? Evidence of him faking death: There's lots of bizaare things that are suspicious. We pay for your stories! The new documentary "Dead Man's Switch" looks at the mystery of Gerald Cotten, the QuadrigaCX CEO who unexpectedly died and some $250 in investors' money seemingly disappeared with him. "What Quadriga really did with the money that customers gave it to buy Bitcoin remains a mystery," according to Chainalysis. Netflixs 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. The tech-savvy individual traced domain names, links, and trades on the blockchain, discovering a lengthy track-record of schemes, from Mr Cottens early days on TalkGold, to his association with a business partner named Michael Patryn. ", 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. Despite no concrete evidenceindeed, the murdered mans. 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. Quadriga Fintech Solutions - Wikipedia Gerald Cotten. Its the swindler story you havent heard of until now. A 33-YEAR-OLD man lost his life savings after getting involved with a cryptocurrency trader who died, taking the password to access funds to the grave. The doctor stated that while dying from Crohns disease is very rare, Cotten appeared to show signs of illness and suffered from three heart attacks in the same day the paramedics were unable to resuscitate him after his third cardiac arrest. [42] Another three empty wallets were believed to possibly be owned by Quadriga. California (2) Massachusetts (1) Texas (2) Refine Your Search Results. Customers have since struggled to regain access to their money, citing withdrawl issues and lack of communication from the company. [19] Other than a few contractors, it had no employees, offices or bank accounts thereafter. But when co-founder Cotten died during a honeymoon in India, the money was seemingly lost forever. Lawyers representing investors in what BBC. Mr Cotten, 30 at the time of his death, seemed to be living the dream life of a financial titan. 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. The OSC. You get rid of a lot of the regulations, he said on a podcast in 2014. Here Is Why People Think Gerald Cotten Is Still Alive: The Death firms", "What happens when your bitcoin banker dies? November 28, 2022 by Nurudeen. Was a recently-active Skype account proof he was still alive? I believe this is the reason why Quadriga could be formed because they made a fortune from Scamming before Quadriga. 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. I really prayed it wasn't a scam. The shocking story has been recounted in a new Netflix documentary, Trust No One: The Hunt For The Crypto King. Some speculate that Cotten, who suffered with Crohn's disease, might actually be alive. 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 Netflix documentary will follow investors-turned-investigators looking into theories on the founder's sudden death. It was one of the only games in town [for crypto enthusiasts], Sheona McDonald, who directed the film, told The New York Post. He first encountered Bitcoin in Vancouver, British . Jennifer RobertsonGerry Cotten,. 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. And why did the Indian hospital that treated Cotten misspell his name on his death certificate? The thing is, a CEOs death shouldnt lock customers out of their money. After his death in December, his colleagues said that about $137 million in cryptocurrency belonging to about 115,000 customers was held offline in "cold storage" and inaccessible. Dying from Crohn's disease when only 1.6% of sufferers from this disease die of it and to happen to die from . goes to Cottens hospital in India to put the whole fake death thing to bed. [48], On 5 February 2019, Nova Scotia Supreme Court Justice Michael J. [33] Aaron Matthews served as Director of Operations. Its pretty much money by people for people.. 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. Both Canadas tax authorities and the FBI are also investigating the company. The doctor, reported the Globe, initially diagnosed Cotten with little more than travelers diahrrea, but kept him in hospital just in case. Lived In Los Angeles CA, Austin TX, Van Nuys CA . Then, out of the blue, one Mike Patryn joined the Telegram group that investors were using to discuss conspiracies. Criminal probes continue by the Royal Canadian Mounted Police and the FBI as leading digital investing publication Coindesk branded his death as the "crypto's biggest mystery". Did Cotten fake his own death, investors began to ask, absconding to lands anew under a new name and a surgically rejigged face? It is highly unusual for only a single executive to be the one with access to a company's fund, further muddying the waters around what happened to Cotten. 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". And meanwhile, Dead Man's Switch director Sheona McDonald said: "There's only two people who really know what happened in India.". Gerald Cotten faked his death? QuadrigaCX Full Story Uncovered. The user said that he left the company in 2016, and that the company was legitimate at the time. Many believe that Cotten faked his death, however, as part of an exit scam to get away with stealing millions from Quadrigas customers. 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. I took out three loans from the bank and put it all into crypto. 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. 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. He launched QuadrigaCX in 2013, and it quickly became one of the largest crypto exchanges. [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. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). But Bitcoin crashed at the end of 2018, and Cottens flashy lifestyle needed cash to sustain itself. 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. Access your favorite topics in a personalized feed while you're on the go. "I kept asking them: Where's my money? Likewise, the public was not much intrigued about their lives up until . When Quadriga CEO Gerald Cotten died suddenly in 2018, the passcodes for his cryptocurrency exchange died with him. **Warning Spoilers ahead for Trust No One: The Hunt for the Crypto King**. Attack on Titan Season 4 Part 4 to release Fall 2023, confirms new trailer, {{#media.media_details}} {{#media.focal_point}}. Something was afoot. In December 2018, Cotten died during his honeymoon with his wife, Jennifer Robertson, in Jaipur, India. He graduated from York in 2010 with a bachelor's degree in business administration. Gerald Cotten's body should be exhumed, investors in QuadrigaCX tell Was he avoiding something or someone? Cbc.ca. 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. While Robertson has possession of the laptop containing the necessary passwords, she remains locked out. Here's my take on Gerald Cotten and his suspicious death. Cotten also took flying lessons as he appeared to be possibly preparing for a life on the run. Gerald Cotten is a bitcoin millionaire from Canada whose death, supposedly from complications relating to Crohn's disease, is now being questioned. X-rays. Mystery of crypto CEO who died, taking $250 million with him There were other problems around that time. Jilted investors of Cotton's crypto firm QuadrigaCX have demanded his corpse be exhumed and tests run to confirm its his body. Cryptocurrency investors locked out of $190m after exchange founder dies, Original reporting and incisive analysis, direct from the Guardian every morning.