By clicking Sign up, you agree to receive marketing emails from Insider 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. Disclosure: Mathias Dpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member. 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. But pour in it did. 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. 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. Either the funds were never received or quickly went missing. An official investigation concluded that Quadriga was"an old-fashioned fraud wrapped in modern technology". The company raised C$850,000 but cancelled plans to list on the exchange in early 2016. Gerald Cotten faked his death? QuadrigaCX Full Story Uncovered. His body was embalmed and sent back to Canada for a closed-casket funeral. "It did become an obsession.. Thinking that Jennifer had murdered Cotten, the Telegram group spiraled out of control. He would grow up to be a cryptocurrency entrepreneur and run Canadas largest crypto exchange, QuadrigaCX, before dying under bizarre circumstances in 2018, leaving investors looking for a missing $180 million Canadian dollars. Business picked up when Bitcoin hit the big time in 2017, reaching prices close to $20,000. 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. But the mingling didnt end there: the crypto kingpin also allegedly mixed client money with his own, according to investigators, funding the lavish lifestyle he became known for. But when co-founder Cotten died during a honeymoon in India, the money was seemingly lost forever. So the. I believe this is the reason why Quadriga could be formed because they made a fortune from Scamming before Quadriga. Quadriga CEO's widow speaks out over his death and the missing - CBC After some more digging, the reporter found an order form filled out by one Gerald Cotten. Where is Gerald Cotten now from Netflix's Hunt for the Crypto - HITC [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. 4 people named Gerald Betzen found in California, Texas and Massachusetts. Cotten's sudden death in 2018 led to the disappearance of millions of dollars worth of his investors' Bitcoin funds. Here's a link to the BlackHat forum. 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. Gerald 'Gerry' Cotten | FAKE Behind 'Hunt For The Crypto King' Netflix | Where Are They Now?Subscribe Here! Gerald and Jennifer kept most of their relationship away from the public. 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. 'Bitcoin widow' reveals how she fell victim to her own husband's $215m 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. Gerald Cotten is a bitcoin millionaire from Canada whose death, supposedly from complications relating to Crohn's disease, is now being questioned. "[18], The company tried to raise money and list on the Canadian Securities Exchange (CSE) working with Patryn. 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. 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. Mr Cotten, 30 at the time of his death, seemed to be living the dream life of a financial titan. On this Wikipedia the language links are at the top of the page across from the article title. Was, whom employees described as a macho, terrifying character, that Patryn was involved in a money-laundering ring under a different name, Then, out of the blue, one Mike Patryn joined the Telegram group that investors were using to discuss conspiracies. Cotten had allegedly told his wife he would create a mechanism that would allow her to access all of his crypto-related passwords should he die but. 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. ^ "Quadriga CEO's widow speaks out over his death and the missing crypto millions". His body was repatriated to Canada and a funeral was held in Halifax, Nova Scotia. Where was the rest of the money? It was one of the only games in town [for crypto enthusiasts], Sheona McDonald, who directed the film, told The New York Post. Was a recently-active Skype account proof he was still alive? At the time, he was the CEO of QuadrigaCX, a company that performed cryptocurrency exchanges. Rather than pay customers via bank wires, they were told to come to a nondescript building in Laval, Quebec to pick up the cash. Where Is Gerald Cotten Now? - Vimbuzz.com Was Patryn, whom employees described as a macho, terrifying character, calling the shots, not Cotten? 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. 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. [21], Throughout 2018, as Bitcoin prices crashed, customers of the exchange reported delays when attempting to withdraw dollars. The OSC found that after 2016, QuadrigaCX stopped producing consistent data about its holdings, and that large volumes of cryptocurrencies were being sent to foreign crypto exchanges. [17] In June 2017, Quadriga announced that they had lost ethereum worth US$14 million due to a smart contract error. The Netflix documentary will follow investors-turned-investigators looking into theories on the founder's sudden death. 5 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? 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. It has led the pack of other streaming giants, producing the most projects in the true-crime genre as of 2020. The shocking story has been recounted in a new Netflix documentary, Trust No One: The Hunt For The Crypto King. as well as other partner offers and accept our. Gerald Cotten Still Alive ? In court filings, it was revealed that Mr Cottens email was listed as Midas Golds contact. The OSC tugged on the same thread, but neither could get hold of him. 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. He first encountered Bitcoin in Vancouver, British . How did Gerald Cotten die? A Quadriga mystery, from India to Canada and Gerald Cotten is allegedly meant to have died from Crohns disease after the exchange crashed. It sucks.". Widow of Quadriga crypto founder Gerald Cotten says she had no idea 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. Gerald Cotten was the founder of one of Canada's largest cryptocurrency exchanges, Quadriga CX. Stay up to date with what you want to know. NOW WATCH: Netflix is headed for a huge profit milestone in 2018, Personal Finance Insider's picks for best cryptocurrency exchanges. Re-thinking indemnification for smart contract risks", "Bitcoin investors face long delays cashing out, criticize two B.C. firms", "What happens when your bitcoin banker dies? Shortly after, the exchange stopped working entirely. [19] Other than a few contractors, it had no employees, offices or bank accounts thereafter. started to be convinced that he was dead, after all. CIBC stated that they could not determine the ownership of the money and could not contact Cotten or Quadriga. Thinking that Jennifer had murdered Cotten, the Telegram group spiraled out of control. 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. Then, the crypto millionaire suddenly died in India from complications from Crohn's disease about three years ago. https://bit.ly/3cAIH4j Newest Vid's https://bit.ly/3JkFmEqFollow Us On Facebook https://bit.ly/3oh5cS8Gerald Cotten or Gerry Cotten's life and tragic passing are shrouded in mystery. "So far, nothing's been found. I ended up losing my life savings I lost $400,000, Tong Zou, a tech worker quoted in the film, says. Gerald Cotten. 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. And why did the Indian hospital that treated Cotten misspell his name on his death certificate? Then Gerald Cotten suddenly died, in December of 2018, from complications with Crohn's disease. 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. You transferred them $1,000 and you could see the crypto in your account. How Gerald Cotten, the "Crypto King," Really Died - Bustle My sisters not a liar.. Both Canadas tax authorities and the FBI are also investigating the company. All Filters. , initially diagnosed Cotten with little more than travelers diahrrea, but kept him in hospital just in case. ", 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. Netflix has seen a boom with its true-crime docuseries, from 'Tiger King' to 'Making a Murderer.' By Robin Hill-Gray. [24][25][26], According to court filings, Quadriga also used WB21 as a payment processor. He appointed Peter Wedlake of Grant Thornton to be chief restructuring officer. did gerry and his wife fake his passing and steal the money? The dude literally said that comment as a complete joke, and I even . She had accompanied him to a hospital in Jaipur the previous day and he was diagnosed with septic shock, perforation, peritonitis, and intestinal obstruction. Gerald Cleophas Betzen, 68. Official investigations into the matter have yet to produce any definitive answers. 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. 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. At this point, lots of investors think that Cotten, a man alleged to have a history of scamming, really had faked his own death. Cbc.ca. The death, and the resulting collapse of Quadriga, set off a score of government and citizen investigations into how so much digital currency could be spirited away. Mystery of rogue Bitcoin trader who 'died' taking with him password to Something was afoot. [33], Cotten's will was signed 27 November 2018, twelve days before he allegedly died. His clients were locked out of about $250 million, and investigators later. https://bit.ly/3cAIH4j Newest Vid's https:. Quadriga's customers are owed C$260 million in cryptocurrency and cash. Still, questions about the missing money only mounted when two. 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. It apparently had no formal accounting system. Cryptocurrency investors locked out of $190m after exchange founder dies, Original reporting and incisive analysis, direct from the Guardian every morning. Cotten was the only one with access to necessary permissions. So what exactly happened to Cotten, and is he still alive somewhere sitting on a mountain of stolen crypto? Some speculate that Cotten, who suffered with Crohn's disease, might actually be alive. (His wife says he is in fact dead and witnessed his funeral). He was 30-years-old. [9][10], The Royal Canadian Mounted Police (RCMP) and the U.S. Federal Bureau of Investigation (FBI) were reportedly investigating the company. 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. 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. Robertsons sister, for the record, doesnt think that Cotten had fabricated his relationship with Jennifer. 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. [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. Netflix Special Explores Gerald Cotten's Wife and the QuadrigaCX Scandal Want to bookmark your favourite articles and stories to read or reference later? Do you have a story for The Sun Online Tech & Science team? Where Is Gerald Cotten's Wife, Jennifer Robertson Now? - Ecelebritymirror 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. Fourteen trading accounts that were also examined were used to trade on other exchanges. , 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. In December 2018, Cotten died during his honeymoon with his wife, Jennifer Robertson, in Jaipur, India. 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. 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. #GeraldCottenReallyDead #GeraldCottenStillAliveGerald Cotten Really Dead ? The circumstances sparked speculation from some in the crypto community that the CEO faked his death and stole his clients' money. Now . Gerald Cotten, 30, died abruptly in December 2018 of complications relating to Crohns disease while on honeymoon in Jaipur, India, with his wife, Jennifer Robertson. There's a small chance that someone was investigating his old accounts and that they accessed his BlackHat but it's very unlikely. 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. Please refresh the page or navigate to another page on the site to be automatically logged in, Please refresh your browser to be logged in, A lost password, a sudden death and $180M in missing crypto, Extra 20% off selected fashion and sportswear at Very, Up to 20% off & extra perks with Booking.com Genius Membership, 50 cash with friend referrals at Virgin Mobile, 15% off extra plans with this Vodafone promo, Compare broadband packages side by side to find the best deal for you, Compare cheap broadband deals from providers with fastest speed in your area, All you need to know about fibre broadband, Best Apple iPhone Deals in the UK March 2023, Compare iPhone contract deals and get the best offer this March, Compare the best mobile phone deals from the top networks and brands. 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. A big chunk of it was given to him by his parents. goes to Cottens hospital in India to put the whole fake death thing to bed. Image Source: Social Media. Gerald Cotten's body should be exhumed, investors in QuadrigaCX tell And, wildly, was Jennifer, his wife, even. I didnt know that Gerry was married, he says. 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. It certainly started to look like fraud, said one anonymous investor in the doc. Attack on Titan Season 4 Part 4 to release Fall 2023, confirms new trailer, {{#media.media_details}} {{#media.focal_point}}. The estate includes an airplane, a sailboat, a 2017 Lexus, and real estate in Nova Scotia and Kelowna, British Columbia. It left Robertson the entire C$9.6-million estate and named her as the trustee. There was no way of getting my money back. Following Quadrigas implosion in 2019, it was investigated by the Ontario Securities Commission, which concluded that, "what happened at Quadriga was an old-fashioned fraud wrapped in modern technology. The Globe and Mail reporters were on the case, and used photos to conclude that they were the same person. Sign up for notifications from Insider! Investors tried to pull their money from Quadriga, but sometimes faced month-long delays. Still, questions about the missing money only mounted when two Globe and Mail reporters followed up on the case. Despite no concrete evidenceindeed, the murdered mans. It was a perfect match, sparked up on Tinder, she said in the documentary. Overcast with rain showers at times. I didnt know that Gerry was married, he says. 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. In November 2018 the case was decided with the accounts going to the court to decide the ownership individually. Finally, the OSC discovered something that cracked the case wide open. [52], The CBC released a 6-episode podcast about Quadriga and the death of its founder called A Death in Cryptoland. Gerald died while on a honeymoon with his wife Je His death certificate was issued by the Indian authorities and contains an incorrect spelling of his name. But, due to the strict security of crypto, we may never know. Here Is Why People Think Gerald Cotten Is Still Alive. 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. Though some dont believe Mr Cotten is really gone, the money from Quadriga is. The streaming service announced the feature alongside a slate of upcoming true-crime projects last week. 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. Was he avoiding something or someone? 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. [3][4][5], Quadriga likely never invested the funds entrusted to it, according to Chainalysis, a cryptocurrency tracking firm. But when the banks, the law, and the. Exit Scam host Aaron Lammer told CoinDesk: "My read was that, on some level, Gerry was addicted to scamming, "Addicted to stealing peoples money. The funeral, according to a Redditor claiming to be a contractor for QuadrigaCX, said that it was a closed-casket affair, and that Jennifer was fake grieving and dancing at the funeral to bacchanalian excess, and even kicked out Geralds family. And not even he thinks that Gerald is deadnor did he ever meet his wife. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). The 33-year-old has attempted to get his money back in a lawsuit, but hasn't had any luck as yet. She has also said she has no idea what the passwords are to access sequestered customer funds, and that it wasnt written down anywhere. [42] Another three empty wallets were believed to possibly be owned by Quadriga. His death sparked online debates and string theories on Reddit and. He graduated from York with a bachelor of business administration in 2010. [49], On 5 March 2019, Justice Wood extended Quadriga's court protection to 23 April. Sam, Bangs & Moonshine by Evaline Ness (Holt). Thats when the. But months later, customers still couldnt take their money out. 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.