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. The 33-year-old has attempted to get his money back in a lawsuit, but hasn't had any luck as yet. Netflix announced an upcoming documentary about the Quadriga Bitcoin saga and the death of CEO Gerald Cotten. Was a recently-active Skype account proof he was still alive? 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. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). [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. ET. 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. [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. '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. The company raised C$850,000 but cancelled plans to list on the exchange in early 2016. A C$100,000 trust fund was made to provide lifelong care for Cotten's two chihuahuas in case of Robertson's death. 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. A computer issue wiped $14 million of Ethereum off the exchange. Where is Gerald Cotten's Wife Jen Robertson Now? - The Cinemaholic 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. And meanwhile, Dead Man's Switch director Sheona McDonald said: "There's only two people who really know what happened in India.". goes to Cottens hospital in India to put the whole fake death thing to bed. Subsequent investigations found that Michael Patryn, one of the co-founders, registered the domain name for QuadrigaCXnot Gerry. Thats when the Globe started to be convinced that he was dead, after all. Quadriga's customers are owed C$260 million in cryptocurrency and cash. 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. "It just makes me more depressed about it," Zou told Sky News. , initially diagnosed Cotten with little more than travelers diahrrea, but kept him in hospital just in case. He was one of the wealthiest people in the crypto world, and his company was at its pinnacle. Gerald Cotten: 5 Fast Facts You Need to Know | Heavy.com I didnt know that Gerry was married, he says. And for some, things still looked suspicious. "What Quadriga really did with the money that customers gave it to buy Bitcoin remains a mystery," according to Chainalysis. Fifteen years later, Mr Cotten, known as Gerry, would be accused of swindling people online of a much bigger prize. NOW WATCH: Netflix is headed for a huge profit milestone in 2018, Personal Finance Insider's picks for best cryptocurrency exchanges. There's only two people who really know what happened in India. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). 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. 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. Cottens death will likely remain a mystery, with some believing that he is still residing somewhere in the world with the stolen money. Mystery of crypto CEO who died, taking $250 million with him Then, out of the blue, one Mike Patryn joined the Telegram group that investors were using to discuss conspiracies. 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. ^ "Quadriga CEO's widow speaks out over his death and the missing crypto millions". He was able to keep the venture, called S&S Investments, going for three months, before it folded and investors money was gone. Gerald Cotten was the talk of the cryptocurrency world in Canada after he introduced QuadrigaCX, a place where investors could buy and sell cryptocurrency. reporters had a hunch that this was Gerry Cotten, and traced the account to another online den of thieves, BlackHatWorld. Gerald Cotten is allegedly meant to have died from Crohn's disease after the exchange crashed. Robertson has denied any knowledge of her husband's wrongdoing - and in 2019 returned $9million to the company to repay users. What really happened to Gerald Cotten, Netflix's Crypto King? An official investigation concluded that Quadriga was"an old-fashioned fraud wrapped in modern technology". [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 OSC. 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. Gerald Cotten is still alive (proof) I remember exactly 2 and a half weeks ago, someone on this subreddit that was jokingly talking about gerald said "Watch Quadriga say that they can't access cold wallets because Gerald died and he was the only one with access to the keys". Where Is Gerald Cotten Now? - Vimbuzz.com 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. Some speculate that Cotten, who suffered with Crohn's disease, might actually be alive. Investors who lost $190m demand exhumation of cryptocurrency mogul firms", "What happens when your bitcoin banker dies? Image Source: Social Media. gerald cotten belize - Fullpackcanva.com The Globe and Mail reporters were on the case, and used photos to conclude that they were the same person. 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. 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.. What Happened to Jennifer Robertson and Where Is Gerald Cotten's Wife Now? In their letter to the RCMP the law firm underlined the need for certainty around the question of whether Mr Cotten is in fact deceased. 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. At this point, lots of investors think that Cotten, a man alleged to have a history of scamming, really had faked his own death. Still, questions about the missing money only mounted when two Globe and Mail reporters followed up on the case. The Secret Life and Strange Death of Quadriga Founder Gerald Cotten 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. [42] Another three empty wallets were believed to possibly be owned by Quadriga. Is Gerald Cotten really dead? 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. Customers reported that once they arrived, there was nobody in the office, or that there was no cash to be disbursed. She says she never received the passwords. 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. Some also believe that Gerald isnt even dead at all but rather hiding away with the hundreds of millions of dollars he controlled. So the Globe goes to Cottens hospital in India to put the whole fake death thing to bed. His death certificate was issued by the Indian authorities and contains an incorrect spelling of his name. A lost password, a sudden death and $180M in missing crypto Official investigations into the matter have yet to produce any definitive answers. 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. There was no way of getting my money back. Given the intrigue, some went so far as to question whether Mr Cotten had really died and demanded his body be exhumed. QuadrigaCX's Crypto Accounts Were Emptied Months Before CEO's 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. Finally, the OSC discovered something that cracked the case wide open. [49], On 5 March 2019, Justice Wood extended Quadriga's court protection to 23 April. I just prayed. His clients were locked out of about $250 million, and investigators later. Still, questions about the missing money only mounted when two. Is Gerald Cotten really dead? : r/QuadrigaCX - reddit 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. Resides in Beverly Hills, CA. Ernst & Young was able to recover $24m in cash and $9m in assets held by Robertson. 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. 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. Thinking that Jennifer had murdered Cotten, the Telegram group spiraled out of control. He was 30-years-old at the time of his death. "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. Gerald Cotten Really Dead ? Gerald Cotten Still Alive ? - Watch Full [54], A 2021 8-episode podcast entitled Exit Scam followed the buildup of Quadriga, and investigated whether Gerald Cotten had faked his own death. as well as other partner offers and accept our. Then the Ontario Securities Commission opened an investigation. - Watch Full Details ! 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. Netflix Special on Bitcoin Fraudster Gerald Cotten, His Wife, and QuadrigaCX. The dude literally said that comment as a complete joke, and I even . 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. 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. Re-thinking indemnification for smart contract risks", "Bitcoin investors face long delays cashing out, criticize two B.C. The company's CEO and founder, Gerald William Cotten, allegedly died in 2018 after traveling to India. Jennifer, scared for her safety, entered a safe house. [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. Obituary -Gerald Cotten Wife, Death Cause, Alive or Death? Wikipedia In December 2018, Cotten died during his honeymoon with his wife, Jennifer Robertson, in Jaipur, India. [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. 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. 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". thinks that Gerald is deadnor did he ever meet his wife. Cotten's sudden death in 2018 led to the disappearance of millions of dollars worth of his investors' Bitcoin funds. A sneak preview of the Netflix doc contains images that suggest the documentary will show the investors dive deeper into these conspiracies. pic.twitter.com/rGymJ5f9Or. Gerald Cotten was 15 when he ran his first documented get-rich-quick scheme. It was a perfect match, sparked up on Tinder, she said in the documentary. "I couldn't get any sleep. https://bit.ly/3cAIH4j Newest Vid's https:. But when co-founder Cotten died during a honeymoon in India, the money was seemingly lost forever. He would then use this crypto to make investments himself on other digital exchanges as he furnished his own pockets at the expense of his investors, according to accounting firm Ernst & Young. But Cotten was a bad trader: losing money hand over fist, he gambled away about $150 million of customer funds. 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. Gerald died while on a honeymoon with his wife Je Cotten told a Globe and Mail reporter that the banks, which didnt trust crypto exchanges, had frozen the exchanges bank accounts. 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. Mr Cotten, 30 at the time of his death, seemed to be living the dream life of a financial titan. I took out three loans from the bank and put it all into crypto. 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. Sign up for notifications from Insider! He launched QuadrigaCX in 2013, and it quickly became one of the largest crypto exchanges. 29 2022, Published 3:03 p.m. Do you have a story for The Sun Online Tech & Science team? You get rid of a lot of the regulations, he said on a podcast in 2014. One of the. 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. 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. The podcast was hosted by Takara Small. Was a recently-active Skype account proof he was still alive? He passed away in 2018 with the secret of $250 million. Crypto CEO's Mysterious Death Will Be Made Into Netflix Doc How did Gerald Cotten die? A Quadriga mystery, from India to Canada and Reported by Fansided, Globe and Mail journalist Nathan Vanderklippe spoke to Dr. Sharma, who dealt with Cotten when he came into the hospital. Have something to tell us about this article? The estate includes an airplane, a sailboat, a 2017 Lexus, and real estate in Nova Scotia and Kelowna, British Columbia. https://www.blackhatworld.com/seo/hiring-a-programmer-website-like-bitstamp-bitcoin-trading-project.605236/. Then, the crypto millionaire suddenly died in India from complications from Crohn's disease about three years ago. 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. #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/ 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. Bitcoin fraudster's widow breaks silence about the missing crypto The mystery of Cotten and Quadriga is now the subject of podcasts Exit Scam and A Death In Cryptoland. I'm new to this subreddit, I apologise if anything I have said breaks the rules. Jennifer RobertsonGerry Cotten,. There were other problems around that time. The public didnt learn about the death for another 36 days, until January 2019. [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. How Gerald Cotten, the "Crypto King," Really Died - Bustle The young entrepreneur seemed to be at the height of his success, traveling around the world with his wife, Jennifer, and leading a jet-setting lifestyle. Many believe that Cotten faked his death, however, as part of an exit scam to get away with. did gerry and his wife fake his passing and steal the money? Want to bookmark your favourite articles and stories to read or reference later? Premieres in 2022 pic.twitter.com/rP9iFJHkWm. 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. Photo by Gaetano Cessati on Unsplash. Mr Cottens story is now the subject of the documentary Dead Mans Switch: A Crypto Mystery, which streams on Discovery+, and in the new memoir of wife Jennifer Robertson, Bitcoin Widow: Love, Betrayal and the Missing Millions. However, it was eventually discovered that Gerald had transferred all of his belongings to his wife before his death. The thing about conspiracy theories, though, is that they mutate out of control very quickly, and arent always reflective of the latest evidence. Since his death, Cotten has been recast as a habitual scammer who would enjoy the thrill of knowing he was duping his customers and investors. Supposedly, Cottens business associates didnt even know he was married. I'm 99% sure he is still alive living nicely. Now Cottens jet-set lifestyle looked suspicious. [17], In 2016, Cotten became the sole director of Quadriga when all the other directors resigned. The documentary follows a group of Quadriga investors turned sleuths who dig into the suspicious death of Cotten and the millions of missing cryptocurrency they believe Cotten stole from them, according to a tweet from Netflix announcing the film. [19] Other than a few contractors, it had no employees, offices or bank accounts thereafter. But when the banks, the law, and the. 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. [17] In a 2014 interview, founder Gerald Cotten explained that the company stored customer funds on paper wallets in safe deposit boxes: "So we just send money to them, we dont need to go back to the bank every time we want to put money into it. 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. Netflix has seen a boom with its true-crime docuseries, from 'Tiger King' to 'Making a Murderer.' 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. His death was kept secret for a month by the firm before it was finally announced - and it was found he had spent millions in investors' money funding his own lavish lifestyle.