Then you get rid of the fees. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). But Cotten was a bad trader: losing money hand over fist, he gambled away about $150 million of customer funds. Quadriga's accounts are estimated to have held 190million ($250million). The two first met in November 2014 and had been together for some time before tying the knot in October 2018. But months later, customers still couldnt take their money out. The only catch: only Gerry knew the passwords to the companys crypto-vaults. - October, November, December - during all that time," he said. Official investigations into the matter have yet to produce any definitive answers. Mr Cotten, 30 at the time of his death, seemed to be living the dream life of a financial titan. Premieres in 2022 pic.twitter.com/rP9iFJHkWm. CIBC stated that they could not determine the ownership of the money and could not contact Cotten or Quadriga. Still, questions about the missing money only mounted when two Globe and Mail reporters followed up on the case. 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. [27] Another payment processor used by Quadriga, Crypto Capital, was named in a civil suit filed by the New York Attorney General in April 2019. November 28, 2022 by Nurudeen. Both Canadas tax authorities and the FBI are also investigating the company. Customers have since struggled to regain access to their money, citing withdrawl issues and lack of communication from the company. 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. [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. An official investigation concluded that Quadriga was"an old-fashioned fraud wrapped in modern technology". Jilted investors of Cotton's crypto firm QuadrigaCX have demanded his corpse be exhumed and tests run to confirm its his body. 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. When Quadriga CEO Gerald Cotten died suddenly in 2018, the passcodes for his cryptocurrency exchange died with him. 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. Do you have a story for The Sun Online Tech & Science team? "[40][41], Ernst & Young found five Quadriga cold wallet addresses, but they were empty, containing no cryptocurrency since April 2018. #GeraldCottenReallyDead #GeraldCottenStillAliveGerald Cotten Really Dead ? 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? Customers reported that once they arrived, there was nobody in the office, or that there was no cash to be disbursed. And not even. [21], Throughout 2018, as Bitcoin prices crashed, customers of the exchange reported delays when attempting to withdraw dollars. Gerald Cotten (born 11 May 1988)[14] lived in Belleville, Ontario before attending the Schulich School of Business at York University in Toronto. Shortly after, the exchange stopped working entirely. In December 2018, Cotten died during his honeymoon with his wife, Jennifer Robertson, in Jaipur, India. 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 circumstances are dodgy that they chose to honeymoon to India and he suddenly dies from complications of Crohn's disease. 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. Netflix has tried to get to the bottom of things in its, Trust No One depicts Cotten as a nerdy, happy-go-lucky, and charming CEO, who was knee-deep in, reporter that the banks, which didnt trust crypto exchanges, had, The investors found more questions than answers. His body was embalmed and sent back to Canada for a closed-casket funeral. [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. [33] After the exchange was put into maintenance mode for several days in January, they announced on the 31st that they were applying for creditor protection. I'm new to this subreddit, I apologise if anything I have said breaks the rules. One of the Globe reporters had a hunch that this was Gerry Cotten, and traced the account to another online den of thieves, BlackHatWorld. 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. 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. 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. Rather than pay customers via bank wires, they were told to come to a nondescript building in Laval, Quebec to pick up the cash. Cotten told a Globe and Mail reporter that the banks, which didnt trust crypto exchanges, had frozen the exchanges bank accounts. There was no autopsy on the body, for instance, and Cotten had signed his will two weeks after he diedleaving his riches to Jennifer. 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. Thats when the Globe started to be convinced that he was dead, after all. 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. Like many in the industry, he framed his enterprise not merely as a financial tool, but a radical societal change, touting the crypto gospel in podcast appearances and videos on YouTube. Jilted investors in a defunct cryptocurrency company want to confirm the death of the business's founder by exhuming his remains. Mar. 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. We explain who Gerald Cotten is, the subject of this documentary, and reveal where he is now, including the mystery surrounding his downfall. The media dragged Gerald Cotten's wife, Jennifer Robertson, into the spotlight after his mysterious death. Retrieved 18 January 2022. And not even he thinks that Gerald is deadnor did he ever meet his wife. Jennifer, scared for her safety, entered a safe house. did gerry and his wife fake his passing and steal the money? started to be convinced that he was dead, after all. [47], Gerald Cotten's widow has maintained that she knew nothing about her husband's activities and agreed to forfeit $12 million in assets. ", "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? 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. There was no way of getting my money back. Companies have backups, safeguards to protect against this kind of thing. Is Gerald Cotten really dead? Dhanani also had pleaded guilty to burglary and grand theft charges and had been deported to Canada. Two years after Liberty Reserve was taken down, the pair launched Quadriga, though Mr Patryn left the company in 2016 over a dispute on whether to list the company publicly and claims no involvement in the resulting schemes. The thing is, a CEOs death shouldnt lock customers out of their money. Gerald Cotten is allegedly meant to have died from Crohns disease after the exchange crashed. Jennifer, scared for her safety, entered a safe house. 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 was a perfect match, sparked up on Tinder, she said in the documentary. 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. 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. Attack on Titan Season 4 Part 4 to release Fall 2023, confirms new trailer, {{#media.media_details}} {{#media.focal_point}}. I put myself into a deep hole and the only way to dig out of it was to sell my house.. [22][23] C$28 million held by Costodian, a Quadriga payment processor, was frozen by the Canadian Imperial Bank of Commerce (CIBC) in January 2018. Some evidence suggested that Jennifer, if real, was acting strangely. Things began to sour, however, in 2018, when the price of Bitcoin collapsed. 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. 29 2022, Published 3:03 p.m. 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. 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. Given the intrigue, some went so far as to question whether Mr Cotten had really died and demanded his body be exhumed. Photo by Gaetano Cessati on Unsplash. 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. "I couldn't get any sleep. seeks to unravel the mystery of Gerald Cotten, the CEO of crypto exchange QuadrigaCX, who died in 2018. Robertson has not been accused of any wrongdoing - and has denied any knowledge of her husband's business dealings. Then, the crypto millionaire suddenly died in India from complications from Crohn's disease about three years ago. Gerald Cotten, the founder of QuadrigaCX, was thought to have had sole access to the funds and coins exchanged on it. But when co-founder Cotten died during a honeymoon in India, the money was seemingly lost forever. She had accompanied him to a hospital in Jaipur the previous day and he was diagnosed with septic shock, perforation, peritonitis, and intestinal obstruction. Quadriga had four employees in 2015 with offices in Vancouver and Toronto, but ran out of money by June 2015. The investors found more questions than answers. Gerald 'Gerry' Cotten died in 2018, taking password to access funds with him Credit: Netflix. Soon enough, QuadrigaCXs customers struggled to withdraw money from the exchange. The company's CEO and founder, Gerald William Cotten, allegedly died in 2018 after traveling to India. On the 9th, he allegedly died after episodes of cardiac arrest. Its pretty much money by people for people.. Some speculate that Cotten, who suffered with Crohn's disease, might actually be alive. [54], A 2021 8-episode podcast entitled Exit Scam followed the buildup of Quadriga, and investigated whether Gerald Cotten had faked his own death. And, wildly, was Jennifer, his wife, even real? Though some dont believe Mr Cotten is really gone, the money from Quadriga is. In January 2014 they installed the second Bitcoin ATM in Vancouver. 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. Here's my take on Gerald Cotten and his suspicious death. Cotten was the only one with access to necessary permissions. March 30, 2022. [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. [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. So, Patryn: shit-stirrer, criminal mastermind or another one beguiled by Cotten? A computer issue wiped $14 million of Ethereum off the exchange. The OSC tugged on the same thread, but neither could get hold of him. 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. G erald Cotten was 15 when he ran his first documented get-rich-quick scheme. The couple were on their honeymoon in India, where Jennifer had dreams of opening an orphanage.
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