It is highly unusual for only a single executive to be the one with access to a company's fund, further muddying the waters around what happened to Cotten. There was no autopsy on the body, for instance, and Cotten had signed his will two weeks after he diedleaving his riches to Jennifer. Wood ordered a "30-day stay that precludes filing of claims against Quadriga", which is a temporary legal protection from its creditors under the Companies' Creditors Arrangement Act, a legal status that allows insolvent corporations to restructure their business and financial affairs. Mom 'stabs 3 of her kids to death and wounds 2 others in unsupervised visit', Daughter of murdered couple linked to Delphi case reveals paranoia, Serena Williams stepmom's debts continue to spiral amid crumbling home battle, Alex Murdaugh looks unrecognizable in new mugshot hours after sentencing, 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP. Robertsons sister, for the record, doesnt think that Cotten had fabricated his relationship with Jennifer. The crypto entrepreneur bought increasingly lavish purchases: a $600,000 yacht, a high-end Lexus, 17 homes in Canada, a plane. Dying from Crohn's disease when only 1.6% of sufferers from this disease die of it and to happen to die from . Where was the rest of the money? 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. Criminal probes continue by the Royal Canadian Mounted Police and the FBI as leading digital investing publication Coindesk branded his death as the "crypto's biggest mystery". 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. 4 people named Gerald Betzen found in California, Texas and Massachusetts. [45], In June 2020, the Ontario Securities Commission officially concluded that Quadriga was indeed a fraud and a Ponzi scheme. Neither Costodian or Quadriga could access the funds. The podcast was hosted by Takara Small. 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. Quadriga Fintech Solutions was the owner and operator of QuadrigaCX, which was believed to be Canada's largest cryptocurrency exchange.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.. [17], In 2016, Cotten became the sole director of Quadriga when all the other directors resigned. TRUST NO ONE: THE HUNT FOR THE CRYPTO KINGFollow a group of investors turned sleuths as they try to unlock the suspicious death of cryptocurrency multimillionaire Gerry Cotten and the missing $250 million they believe he stole from them. Gerald and Jennifer kept most of their relationship away from the public. 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. CIBC stated that they could not determine the ownership of the money and could not contact Cotten or Quadriga. The Netflix documentary will follow investors-turned-investigators looking into theories on the founder's sudden death. Then, the crypto millionaire suddenly died in India from complications from Crohn's disease about three years ago. #GeraldCottenReallyDead #GeraldCottenStillAliveGerald Cotten Really Dead ? Gerald 'Gerry' Cotten | FAKE Behind 'Hunt For The Crypto King' Netflix | Where Are They Now?Subscribe Here! Is Gerald Cotten really dead? 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. 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. 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. Netflix announced an upcoming documentary about the Quadriga Bitcoin saga and the death of CEO Gerald Cotten. 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. Angry and suspicious investors congregated on Reddit and Telegram to try to get to the bottom of the mystery. [48], On 5 February 2019, Nova Scotia Supreme Court Justice Michael J. I put myself into a deep hole and the only way to dig out of it was to sell my house.. 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. I believe this is the reason why Quadriga could be formed because they made a fortune from Scamming before Quadriga. His clients were locked out of about $250 million, and investigators later. The circumstances sparked speculation from some in the crypto community that the CEO faked his death and stole his clients' money. There's a small chance that someone was investigating his old accounts and that they accessed his BlackHat but it's very unlikely. firms", "What happens when your bitcoin banker dies? Gerald Cotten, 30, held the virtual keys to a whopping $137 . 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. All that money vanished into the crypto ether and only once investigations occured did people start to think that it may have been a scam all along. Netflix announced an upcoming documentary about the Quadriga Bitcoin saga and the death of CEO Gerald Cotten. at the time Canadas largest cryptocurrency exchange, Gerald Cotten, 30, died in questionable circumstances, Canadian company founder took crucial password to the grave. Gerald Cleophas Betzen, 68. 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. Here's a link to the BlackHat forum. Zou trusted Quadriga CX, Canada's largest cryptocurrency exchange, with C$500,000 (305,000). His wife has said she was "upset and disappointed" to learn about the extent of the fraud at her husbands company, writing in a 2019 statement, she wasnt aware or involved in Gerrys trading activities, nor his appropriation of customer funds." Here Is Why People Think Gerald Cotten Is Still Alive. 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. [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. He graduated from York with a bachelor of business administration in 2010. Gerald 'Gerry' Cotten died in 2018, taking password to access funds with him Credit: Netflix. There's also other posts on his Murdoch1337 account that are weird he asks for people to sell him old reddit accounts presumably because he would use these alt accounts to downvote people trying to slander his company or he would make posts on these alts saying how great Quadriga is. The doctor, reported the Globe, initially diagnosed Cotten with little more than travelers diahrrea, but kept him in hospital just in case. The media dragged Gerald Cotten's wife, Jennifer Robertson, into the spotlight after his mysterious death. name was not the same as Robertsons ex-husband, some angry investors lobbed death threats at Jennifer, convinced that she had murdered Cotten, too. Soon enough, QuadrigaCXs customers struggled to withdraw money from the exchange. The circumstances are dodgy that they chose to honeymoon to India and he suddenly dies from complications of Crohn's disease. Robertson has not been accused of any wrongdoing - and has denied any knowledge of her husband's business dealings. So the Globe goes to Cottens hospital in India to put the whole fake death thing to bed. ", 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. The two first met in November 2014 and had been together for some time before tying the knot in October 2018. The only catch: only Gerry knew the passwords to the companys crypto-vaults. Thats when the Globe started to be convinced that he was dead, after all. [17] In June 2017, Quadriga announced that they had lost ethereum worth US$14 million due to a smart contract error. He was 30-years-old. Even today, some investors remain unconvinced that Cotten really is dead. We just send money from our Bitcoin app directly to those paper wallets, and keep it safe that way. [2], In January 2019 Ernst & Young reported that Quadriga did not have a bank account, but instead used third-party payment processors. But, due to the strict security of crypto, we may never know. Quadriga's accounts are estimated to have held 190million ($250million). Cotten also took flying lessons as he appeared to be possibly preparing for a life on the run. While the large increase in volume increased commissions, it also caused cash-flow problems due to the exchange's reliance on external payment processors and its lack of a proper accounting system. By clicking Sign up, you agree to receive marketing emails from Insider 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. Here's my take on Gerald Cotten and his suspicious death. 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. When Quadriga CEO Gerald Cotten died suddenly in 2018, the passcodes for his cryptocurrency exchange died with him. [7] Meanwhile, in order to manage the finances of the company during the process, a third-party monitor, Ernst & Young, was appointed. Gerald Cotten died suddenly of Crohn's disease - or did he? A computer issue wiped $14 million of Ethereum off the exchange. [33] Aaron Matthews served as Director of Operations. He convinced tons of investors to fork over their money so he could invest it into Crypto. Facebook / Remembering Gerry Cotten In the weeks since Quadriga Fintech Solutions Corp. belatedly made his death public, the exchange's furious users have raised questions. 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. 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. Some evidence suggested that Jennifer, if real, was acting strangely. 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. No longer a likable nerd, investors thought that Gerald, now sceptre, had been operating scams since he was 15. He first encountered Bitcoin in Vancouver, British . Customers reported that once they arrived, there was nobody in the office, or that there was no cash to be disbursed. However, it was eventually discovered that Gerald had transferred all of his belongings to his wife before his death. 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. Quadriga had four employees in 2015 with offices in Vancouver and Toronto, but ran out of money by June 2015. (His wife says he is in fact dead and witnessed his funeral). There is a clear lesson here that having a single person owning this information creates a huge vulnerability.. So, Patryn: shit-stirrer, criminal mastermind or another one beguiled by Cotten? 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. 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. The Globe and Mail reporters were on the case, and used photos to conclude that they were the same person. Robertson has denied any knowledge of her husband's wrongdoing - and in 2019 returned $9million to the company to repay users. After some more digging, the reporter found an order form filled out by one Gerald Cotten. 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. But the money, of course, was still missing. I'm new to this subreddit, I apologise if anything I have said breaks the rules. 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.

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