A bitcoin mining operation in Saint Hyacinthe, Quebec. Gerald and Jennifer kept most of their relationship away from the public. You transferred them $1,000 and you could see the crypto in your account. 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. 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. 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. seeks to unravel the mystery of Gerald Cotten, the CEO of crypto exchange QuadrigaCX, who died in 2018. Angry and suspicious investors congregated on Reddit and Telegram to try to get to the bottom of the mystery. Gerald Cotten is allegedly meant to have died from Crohn's disease after the exchange crashed. After some more digging, the reporter found an order form filled out by one Gerald Cotten. 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. The public didnt learn about the death for another 36 days, until January 2019. [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. Where was the rest of the money? [30], According to Jennifer Robertson, Cotten's widow, he died on 9 December 2018 while travelling in India. 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. 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. [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. 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. Mystery of crypto CEO who died, taking $250 million with him Citing decomposition concerns, lawyers requested the exhumation be completed no later than spring 2020. [15] He learned about Bitcoin in Toronto and travelled to Vancouver, British Columbia, where he founded Quadriga in November 2013 with Michael Patryn. Died, and He Had the Passwords", "Pre-filing report of the proposed monitor", "Controversial QuadrigaCX cryptocurrency exchange placed in bankruptcy", "Quadriga Should Shift to Bankruptcy Proceedings, Monitor Says", "FBI Probing Bitcoin Exchange Quadriga Over Missing $136 Million, Source Alleges", "Quadriga: Lawyers for users of bankrupt crypto firm seek exhumation of founder", "How Gerald Cotten built Quadriga and created the ensuing crypto storm", "Ponzi Schemes, Private Yachts, and a Missing $250 Million in Crypto: The Strange Tale of Quadriga", "Geek Speak: Gerald Cotton, CEO of Quadriga CX", "Crypto chaos: From Vancouver to Halifax, tracing the mystery of Quadriga's missing millions", "Quadriga's late founder used to store clients' Bitcoin passwords on paper so they wouldn't get lost", "A crypto exchange CEO dies-with the only key to $137 million", "Details emerging about Gerald Cotten, the young founder of QuadrigaCX", "My smart contract just ate $14 millionnow what? "[18], The company tried to raise money and list on the Canadian Securities Exchange (CSE) working with Patryn. Cryptocurrency investors locked out of $190m after exchange founder dies, Original reporting and incisive analysis, direct from the Guardian every morning. And not even he thinks that Gerald is deadnor did he ever meet his wife. 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. [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. Here's my take on Gerald Cotten and his suspicious death. 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. 'Bitcoin widow' reveals how she fell victim to her own husband's $215m 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. It essentially removes the need for a central authority. [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. 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. The laptop computer from which Gerry carried out the companies business is encrypted and I do not know the password or recovery key. There were other problems around that time. He passed away in 2018 with the secret of $250 million. I ended up losing my life savings I lost $400,000, Tong Zou, a tech worker quoted in the film, says. Trust No One: The Hunt for the Crypto King is now streaming on Netflix. I believe this is the reason why Quadriga could be formed because they made a fortune from Scamming before Quadriga. - Watch Full Details ! 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. And, wildly, was Jennifer, his wife, even. The 33-year-old has attempted to get his money back in a lawsuit, but hasn't had any luck as yet. He is believed to have scooped around around $115million in crypto from his own accounts and put them into high risk financial bets - many of which crashed, costing him more money than Quadriga ever actually made. I really prayed it wasn't a scam. Supposedly, Cottens business associates didnt even know he was married. 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. But even the forensic accountants only managed to trace $46 million of the total $215 million customers had deposited onto the exchange. I didnt know that Gerry was married, he says. Netflix announced an upcoming documentary about the Quadriga Bitcoin saga and the death of CEO Gerald Cotten. 'Trust No One: The Hunt for the Crypto King' will be released sometime in 2022. Business picked up when Bitcoin hit the big time in 2017, reaching prices close to $20,000. Zou resorted to the cryptocurrency scheme to avoid bank charges when moving Vancouver, shifting his money from the US to a Canadian account. Their online exchange launched after the first month. Quadriga Fintech Solutions - Wikipedia Uncertainty about the missing funds has fueled speculation that Cotten may still be alive. 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. [24][25][26], According to court filings, Quadriga also used WB21 as a payment processor. It left Robertson the entire C$9.6-million estate and named her as the trustee. His wife Jennifer Robertson said he had promised to create a mechanism that turned thepasswords over to her when he died. 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. A computer issue wiped $14 million of Ethereum off the exchange. And not even. He died just nine days into his honeymoon due to an acute stomach ache. 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. She has also said she has no idea what the passwords are to access sequestered customer funds, and that it wasnt written down anywhere. 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. Here's my take on Gerald Cotten and his suspicious death. The only catch: only Gerry knew the passwords to the companys crypto-vaults. But Bitcoin crashed at the end of 2018, and Cottens flashy lifestyle needed cash to sustain itself. Jennifer RobertsonGerry Cotten,. His body was repatriated to . https://www.blackhatworld.com/seo/hiring-a-programmer-website-like-bitstamp-bitcoin-trading-project.605236/. (India is notorious for forging fake death certificates by paying people off). He was 30-years-old. It certainly started to look like fraud, said one anonymous investor in the doc. Trust No One depicts Cotten as a nerdy, happy-go-lucky, and charming CEO, who was knee-deep in Bitcoin and a fierce advocate of the technology. Robertsons sister, for the record, doesnt think that Cotten had fabricated his relationship with Jennifer. I put myself into a deep hole and the only way to dig out of it was to sell my house.. Supposedly, Cottens business associates didnt even know he was married. [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. Still, all this evidence was circumstantialinvestors hadnt yet found a smoking gun. [17], In 2016, Cotten became the sole director of Quadriga when all the other directors resigned. He appointed Peter Wedlake of Grant Thornton to be chief restructuring officer. 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. It apparently had no formal accounting system. , one of the co-founders, registered the domain name for QuadrigaCXnot Gerry. Even today, some investors remain unconvinced that Cotten really is dead. Dhanani also had pleaded guilty to burglary and grand theft charges and had been deported to Canada. So his spiral down into a life of crime was either pure greed or him seeking the thrill. But the money, of course, was still missing. In that case, $851 million entrusted to Crypto Capital had been "lost, stolen or absconded with", according to the suit. Exit Scam host Aaron Lammer told CoinDesk: "My read was that, on some level, Gerry was addicted to scamming, "Addicted to stealing peoples money. 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". Netflix announced an upcoming documentary about the Quadriga Bitcoin saga and the death of CEO Gerald Cotten. started to be convinced that he was dead, after all. Robertson has not been accused of any wrongdoing - and has denied any knowledge of her husband's business dealings. Gerald Cotten: 5 Fast Facts You Need to Know | Heavy.com The media dragged Gerald Cotten's wife, Jennifer Robertson, into the spotlight after his mysterious death. Things began to sour, however, in 2018, when the price of Bitcoin collapsed. "So far, nothing's been found. Is Gerald Cotten Still Alive? Did He Really Die? - The Cinemaholic It has led the pack of other streaming giants, producing the most projects in the true-crime genre as of 2020. There's a small chance that someone was investigating his old accounts and that they accessed his BlackHat but it's very unlikely. Neither Costodian or Quadriga could access the funds. Like the end of a classic Ponzi, the OSC said that due to Cottens bad trades, QuadrigaCX couldnt afford to credit customers who withdrew funds. Gerald Cotten was the founder of one of Canada's largest cryptocurrency exchanges, Quadriga CX. Thinking that Jennifer had murdered Cotten, the Telegram group spiraled out of control. 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. When Taylor Monahan, founder of MyCrypto, examined the exchanges cold wallets, she couldnt find the lost crypto. 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. When Quadriga CEO Gerald Cotten died suddenly in 2018, the passcodes for his cryptocurrency exchange died with him. At the time, he was the CEO of QuadrigaCX, a company that performed cryptocurrency exchanges. By Robin Hill-Gray. Image Credit: CTV Your Morning/YouTube. Investors who lost $190m demand exhumation of cryptocurrency mogul 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. - October, November, December - during all that time," he said. Though some dont believe Mr Cotten is really gone, the money from Quadriga is. Gerald 'Gerry' Cotten | FAKE Behind 'Hunt For The Crypto King' Netflix Is Gerald Cotten really dead? Cotten told a Globe and Mail reporter that the banks, which didnt trust crypto exchanges, had frozen the exchanges bank accounts. Gerald Gerry Cotten is the founder of Canadian cryptocurrency exchange Quadriga Fintech Solutions and is at the helm of a groundbreaking investment scam that the Netflix documentary investigates. gerald cotten belize - Fullpackcanva.com He graduated from York in 2010 with a bachelor's degree in business administration. Disclosure: Mathias Dpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member. G erald Cotten was 15 when he ran his first documented get-rich-quick scheme. Furious investors continue to fight a legal battle to try and have Cotten's body exhumed as they believe his death was a cut and run scam. He was 30-years-old at the time of his death. 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. 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. Did he Die? After beginning as an entrepreneur, Cotten founded Quadriga Fintech Solutions in 2013 and the company evolved to become the largest crypto exchange in the country, and it even helped to legitimize Bitcoin. ET. X-rays. The business was run from Cotten's encrypted laptop from Cotten's home in Fall River, Nova Scotia. Lammer believes the evidence does suggest that Cotten died suddenly - having battled Crohn's disease for a number of years, even though the timing was suspicious. [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. [1], The company's CEO and founder, Gerald William Cotten, allegedly died in 2018 after traveling to India. Here Is Why People Think Gerald Cotten Is Still Alive. Likewise, the public was not much intrigued about their lives up until . **Warning Spoilers ahead for Trust No One: The Hunt for the Crypto King**. 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. Quadriga's customers are owed C$260 million in cryptocurrency and cash. On the 9th, he allegedly died after episodes of cardiac arrest. His will was signed off just two weeks before he and wife Jennifer Robertson travelled to India on their honeymoon. An official investigation concluded that Quadriga was"an old-fashioned fraud wrapped in modern technology". There's also other posts on his Murdoch1337 account that are weird he asks for people to sell him old reddit accounts presumably because he would use these alt accounts to downvote people trying to slander his company or he would make posts on these alts saying how great Quadriga is. "It just makes me more depressed about it," Zou told Sky News. Given the intrigue, some went so far as to question whether Mr Cotten had really died and demanded his body be exhumed. But when co-founder Cotten died during a honeymoon in India, the money was seemingly lost forever. "I kept asking them: Where's my money? In December 2018, Cotten died during his honeymoon with his wife, Jennifer Robertson, in Jaipur, India. Gerald 'Gerry' Cotten | FAKE Behind 'Hunt For The Crypto King' Netflix | Where Are They Now?Subscribe Here! Gerald Cotten Really Dead ? Gerald Cotten Still Alive ? - Watch Full And, wildly, was Jennifer, his wife, even real? So far, only about $46 million has been recovered. 'The Crypto King': Who is Gerald Cotten and Where is Gerry Now? - Newsweek Soon enough, QuadrigaCXs customers struggled to withdraw money from the exchange. After some more digging, the reporter found an order form filled out by one Gerald Cotten. One of the. [2], In January 2019 Ernst & Young reported that Quadriga did not have a bank account, but instead used third-party payment processors. ", "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? 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. 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. Customers reported that once they arrived, there was nobody in the office, or that there was no cash to be disbursed. 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. 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. https://bit.ly/3cAIH4j Newest Vid's https:. 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. A big chunk of it was given to him by his parents. There was no way of getting my money back. [49], On 5 March 2019, Justice Wood extended Quadriga's court protection to 23 April. [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. 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. , initially diagnosed Cotten with little more than travelers diahrrea, but kept him in hospital just in case. Was a recently-active Skype account proof he was still alive? His clients were locked out of about $250 million, and investigators later. goes to Cottens hospital in India to put the whole fake death thing to bed. We explain how to spot them. What Happened to Jennifer Robertson and Where Is Gerald Cotten's Wife Now? This was more of a gamblers high than a rich guys high as he pursued more and more of other peoples money, the stakes went up. Gerald Cotten's body should be exhumed, investors in QuadrigaCX tell Jennifer Robertson (Quadriga) - Wikipedia 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. Official investigations into the matter have yet to produce any definitive answers. Quadriga started by doing only local trades.