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[49], On 5 March 2019, Justice Wood extended Quadriga's court protection to 23 April. When Taylor Monahan, founder of MyCrypto, examined the exchanges cold wallets, she couldnt find the lost crypto. There is a clear lesson here that having a single person owning this information creates a huge vulnerability.. Gerald Cotten. Quadriga CX was left owning its 76,000 investors around $215million (CAD). 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. Have something to tell us about this article? Gerald Cotten was the talk of the cryptocurrency world in Canada after he introduced QuadrigaCX, a place where investors could buy and sell cryptocurrency. A C$100,000 trust fund was made to provide lifelong care for Cotten's two chihuahuas in case of Robertson's death. So, Patryn: shit-stirrer, criminal mastermind or another one beguiled by Cotten? The new documentary "Dead Man's Switch" looks at the mystery of Gerald Cotten, the QuadrigaCX CEO who unexpectedly died and some $250 in investors' money seemingly disappeared with him. An official investigation concluded that Quadriga was"an old-fashioned fraud wrapped in modern technology". Gerald Cotten had an estimated net worth of $80 million at the time of his death. Fifteen years later, Mr Cotten, known as Gerry, would be accused of swindling people online of a much bigger prize. But the money, of course, was still missing. The public didnt learn about the death for another 36 days, until January 2019. Quadriga started by doing only local trades. 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. Then, as their accounts accumulated hundreds of millions of dollars, Gerald passed unexpectedly, taking the passwords to the accounts to his grave. I lost $500,000 life savings in cryptocurrency after 'trader DIED with Despite no concrete evidenceindeed, the murdered mans. The couple were on their honeymoon in India, where Jennifer had dreams of opening an orphanage. 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 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. 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. [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. Image Source: Social Media. 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. started to be convinced that he was dead, after all. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). November 28, 2022 by Nurudeen. For instance, had Cottens death certificate, which spelled his name as Cott, , been faked? Then, the crypto millionaire suddenly died in India from complications from Crohn's disease about three years ago. [1], The company's CEO and founder, Gerald William Cotten, allegedly died in 2018 after traveling to India. The media dragged Gerald Cotten's wife, Jennifer Robertson, into the spotlight after his mysterious death. We just send money from our Bitcoin app directly to those paper wallets, and keep it safe that way. There was no autopsy on the body, for instance, and Cotten had signed his will two weeks after he diedleaving his riches to Jennifer. Zou resorted to the cryptocurrency scheme to avoid bank charges when moving Vancouver, shifting his money from the US to a Canadian account. "Trust No One: The Hunt for the Crypto King". I put myself into a deep hole and the only way to dig out of it was to sell my house.. 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. 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. My sisters not a liar.. 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,. I'm new to this subreddit, I apologise if anything I have said breaks the rules. , one of the co-founders, registered the domain name for QuadrigaCXnot Gerry. Gerald Cotten's body should be exhumed, investors in QuadrigaCX tell Disclosure: Mathias Dpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member. The OSC tugged on the same thread, but neither could get hold of him. 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. Gerald 'Gerry' Cotten | FAKE Behind 'Hunt For The Crypto King' Netflix | Where Are They Now?Subscribe Here! His body was embalmed and sent back to Canada for a closed-casket funeral. Did Cotten fake his own death, investors began to ask, absconding to lands anew under a new name and a surgically rejigged face? Netflix announced an upcoming documentary about the Quadriga Bitcoin saga and the death of CEO Gerald Cotten. He was able to keep the venture, called S&S Investments, going for three months, before it folded and investors money was gone. "I could have invested it in real estate. It left Robertson the entire C$9.6-million estate and named her as the trustee. Companies have backups, safeguards to protect against this kind of thing. 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. #GeraldCottenReallyDead #GeraldCottenStillAliveGerald Cotten Really Dead ? Cotton's sudden death from complications of Crohn's disease aged 30 shocked the crypto world - but many believe he may have faked his death in an elaborate "exit scam". firms", "What happens when your bitcoin banker dies? Resides in Beverly Hills, CA. NOW WATCH: Netflix is headed for a huge profit milestone in 2018, Personal Finance Insider's picks for best cryptocurrency exchanges. You get rid of a lot of the regulations, he said on a podcast in 2014. Now . He died just nine days into his honeymoon due to an acute stomach ache. 29 2022, Published 3:03 p.m. [21], Throughout 2018, as Bitcoin prices crashed, customers of the exchange reported delays when attempting to withdraw dollars. Netflix Special Explores Gerald Cotten's Wife and the QuadrigaCX Scandal Either this is a 1 in 100 million coincidence or he is still alive. - Watch Full Details ! [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. Official investigations into the matter have yet to produce any definitive answers. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. "I kept asking them: Where's my money? 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. Investors want QuadrigaCX founder Gerald Cotten's remains exhumed [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. Cotten also took flying lessons as he appeared to be possibly preparing for a life on the run. Gerald Cotten was 15 when he ran his first documented get-rich-quick scheme. This was my entire savings, built through ten years of work, said one disgruntled customer in the doc. However, it was eventually discovered that Gerald had transferred all of his belongings to his wife before his death. Jennifer, scared for her safety, entered a safe house. At this point, lots of investors think that Cotten, a man alleged to have a history of scamming, really had faked his own death. Jennifer Robertson (Quadriga) - Wikipedia In that case, $851 million entrusted to Crypto Capital had been "lost, stolen or absconded with", according to the suit. And not even he thinks that Gerald is deadnor did he ever meet his wife. Attack on Titan Season 4 Part 4 to release Fall 2023, confirms new trailer, {{#media.media_details}} {{#media.focal_point}}. The circumstances are dodgy that they chose to honeymoon to India and he suddenly dies from complications of Crohn's disease. It just wasnt there. Using a reputable custodian to hold the private keys outside the company is perhaps the best option to ensure these codes are not lost, Erik Wilgenhof Plante, the former CCO of the exchange BeQuant, told The Independent at the time. 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. Some people called for Geralds body to be exhumed. Access your favorite topics in a personalized feed while you're on the go. Reported by Fansided, Globe and Mail journalist Nathan Vanderklippe spoke to Dr. Sharma, who dealt with Cotten when he came into the hospital. 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. But pour in it did. Before Quadriga: How shady ventures in Gerald Cotten's youth led to the The user said that he left the company in 2016, and that the company was legitimate at the time. His wife Jennifer Robertson said he had promised to create a mechanism that turned thepasswords over to her when he died. [17] In June 2017, Quadriga announced that they had lost ethereum worth US$14 million due to a smart contract error. Was a recently-active Skype account proof he was still alive? 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. 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. The user said that he left the company in 2016, and that the company was legitimate at the time. He was one of the wealthiest people in the crypto world, and his company was at its pinnacle. 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. He launched QuadrigaCX in 2013, and it quickly became one of the largest crypto exchanges. While Robertson has possession of the laptop containing the necessary passwords, she remains locked out. Robertson has denied any knowledge of her husband's wrongdoing - and in 2019 returned $9million to the company to repay users. Mystery of rogue Bitcoin trader who 'died' taking with him password to Jilted investors in a defunct cryptocurrency company want to confirm the death of the business's founder by exhuming his remains. Finally, the OSC discovered something that cracked the case wide open. Like other crypto-exchanges, Quadriga kept its funds in so-called cold wallets, digital storage devices not connected to the internet, which are safe from hacking. 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. 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. A computer issue wiped $14 million of Ethereum off the exchange. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). Some 76,000 investors like Zou collectively lost out. [16] In 2014 only C$7.4 million worth of bitcoin were exchanged on Quadriga. Re-thinking indemnification for smart contract risks", "Bitcoin investors face long delays cashing out, criticize two B.C. Gerald 'Gerry' Cotten | FAKE Behind 'Hunt For The Crypto King' Netflix | Where Are They Now?Subscribe Here! Uncertainty about the missing funds has fueled speculation that Cotten may still be alive.