[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.
How did Gerald Cotten die? A Quadriga mystery, from India to Canada and "It did become an obsession.. Gerald Cotten was 15 when he ran his first documented get-rich-quick scheme. 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. 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? 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. For instance, had Cottens death certificate, which spelled his name as Cottan, been faked? [49], On 5 March 2019, Justice Wood extended Quadriga's court protection to 23 April. Then, the crypto millionaire suddenly died in India from complications from Crohn's disease about three years ago. Image Source: Social Media. [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. A new documentary on his mysterious death called Dead Man's Switch: A Crypto Mystery, airing on Discovery+, looks into accusations the crypto king made off with millions in investors' cash.
Investors want QuadrigaCX founder Gerald Cotten's remains exhumed Trust No One: The Hunt for the Crypto King. Exit Scam host Aaron Lammer told CoinDesk: "My read was that, on some level, Gerry was addicted to scamming, "Addicted to stealing peoples money. #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/ He passed away in 2018 with the secret of $250 million. **Warning Spoilers ahead for Trust No One: The Hunt for the Crypto King**. Gerald Cotten. [54], A 2021 8-episode podcast entitled Exit Scam followed the buildup of Quadriga, and investigated whether Gerald Cotten had faked his own death. Citing decomposition concerns, lawyers requested the exhumation be completed no later than spring 2020. Gerald Cotten is allegedly meant to have died from Crohns disease after the exchange crashed. Is Gerald Cotten really dead? Did he Die? - October, November, December - during all that time," he said. [45], In June 2020, the Ontario Securities Commission officially concluded that Quadriga was indeed a fraud and a Ponzi scheme. Many believe that Cotten faked his death, however, as part of an exit scam to get away with. There were other problems around that time. However, it was eventually discovered that Gerald had transferred all of his belongings to his wife before his 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.. [33], Cotten's will was signed 27 November 2018, twelve days before he allegedly died. Cotten was the only one with access to necessary permissions. 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. Want to bookmark your favourite articles and stories to read or reference later? A Canadian bank froze another $21 million of funds. 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. I ended up losing my life savings I lost $400,000, Tong Zou, a tech worker quoted in the film, says. [7][8], Quadriga co-founder Michael Patryn was identified by The Globe and Mail as Omar Dhanani, who was convicted on identity theft charges in the U.S. and served 18 months in Federal prison. Cottens death will likely remain a mystery, with some believing that he is still residing somewhere in the world with the stolen money.
A lost password, a sudden death and $180M in missing crypto Netflix has seen a boom with its true-crime docuseries, from 'Tiger King' to 'Making a Murderer.' Dying from Crohn's disease when only 1.6% of sufferers from this disease die of it and to happen to die from . Cotten's sudden death in 2018 led to the disappearance of millions of dollars worth of his investors' Bitcoin funds. California (2) Massachusetts (1) Texas (2) Refine Your Search Results. Gerald Cotten is a bitcoin millionaire from Canada whose death, supposedly from complications relating to Crohn's disease, is now being questioned.
Mystery of crypto CEO who died, taking $250 million with him Uncertainty about the missing funds has fueled speculation that Cotten may still be alive. 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. It left Robertson the entire C$9.6-million estate and named her as the trustee. It essentially removes the need for a central authority. The laptop computer from which Gerry carried out the companies business is encrypted and I do not know the password or recovery key. 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. 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. Gerald Cotten Still Alive ? 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. ^ "Quadriga CEO's widow speaks out over his death and the missing crypto millions". April 2, 2022 Netflix Nobody was expecting Gerald Cotten, the CEO of Canadian Bitcoin exchange QuadrigaCX, to die at 30.
'Bitcoin widow' reveals how she fell victim to her own husband's $215m [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.
I lost $500,000 life savings in cryptocurrency after 'trader DIED with The estate includes an airplane, a sailboat, a 2017 Lexus, and real estate in Nova Scotia and Kelowna, British Columbia. By Robin Hill-Gray. His wife Jennifer Robertson said he had promised to create a mechanism that turned thepasswords over to her when he died. Gerald Cotten, the founder of QuadrigaCX, was thought to have had sole access to the funds and coins exchanged on it. 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. [9][10], The Royal Canadian Mounted Police (RCMP) and the U.S. Federal Bureau of Investigation (FBI) were reportedly investigating the company. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). You get rid of a lot of the regulations, he said on a podcast in 2014. A sneak preview of the Netflix doc contains images that suggest the documentary will show the investors dive deeper into these conspiracies. Dhanani also had pleaded guilty to burglary and grand theft charges and had been deported to Canada. He and his wife, Jennifer Robertson, jetted all over the world on private planes, visiting chic locales in Paris, Hawaii, and Morocco. 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. His body was embalmed and sent back to Canada for a closed-casket funeral. We just send money from our Bitcoin app directly to those paper wallets, and keep it safe that way. Did Cotten fake his own death, investors began to ask, absconding to lands anew under a new name and a surgically rejigged face? But even the forensic accountants only managed to trace $46 million of the total $215 million customers had deposited onto the exchange. "[18], The company tried to raise money and list on the Canadian Securities Exchange (CSE) working with Patryn. The doctor, reported the Globe, initially diagnosed Cotten with little more than travelers diahrrea, but kept him in hospital just in case. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). ET.
Investors who lost $190m demand exhumation of cryptocurrency mogul According to an investigation by Canada's Globe and Mail, Cotten. Cbc.ca. [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. He launched QuadrigaCX in 2013, and it quickly became one of the largest crypto exchanges. So the. 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. Its the swindler story you havent heard of until now. At this point, lots of investors think that Cotten, a man alleged to have a history of scamming, really had faked his own death. For instance, had Cottens death certificate, which spelled his name as Cott, , been faked? 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. Despite repeated and diligent searches, I have not been able to find them written down anywhere, she said in court filings. 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. And not even he thinks that Gerald is deadnor did he ever meet his wife. 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. [43][44] On 13 December 2019, the court-appointed law firm representing the exchange's former users sent a letter to the RCMP asking that they exhume Cotten's body to confirm his identity and verify a cause of death. Shortly after, the exchange stopped working entirely. [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. The podcast was hosted by Takara Small. ", "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? Photo by Gaetano Cessati on Unsplash. 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. [48], On 5 February 2019, Nova Scotia Supreme Court Justice Michael J. 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. [42] Another three empty wallets were believed to possibly be owned by Quadriga. 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,. at the time Canadas largest cryptocurrency exchange, Gerald Cotten, 30, died in questionable circumstances, Canadian company founder took crucial password to the grave. https://bit.ly/3cAIH4j Newest Vid's https:. 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. Investors who believed that Cotten had faked his own death and ran away with the money had made one huge assumption: that Cotten had money to steal. ", 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.