There were other problems around that time. 4 people named Gerald Betzen found in California, Texas and Massachusetts. Re-thinking indemnification for smart contract risks", "Bitcoin investors face long delays cashing out, criticize two B.C. Image Credit: CTV Your Morning/YouTube. "What Quadriga really did with the money that customers gave it to buy Bitcoin remains a mystery," according to Chainalysis. California (2) Massachusetts (1) Texas (2) Refine Your Search Results. Angry and suspicious investors congregated on Reddit and Telegram to try to get to the bottom of the mystery. 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.. "It did become an obsession.. Cbc.ca. 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. #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/ Cottens death will likely remain a mystery, with some believing that he is still residing somewhere in the world with the stolen money. So the. 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. Some speculate that Cotten, who suffered with Crohn's disease, might actually be alive. According to the documentary, thats around the time that Cotten started to invest his money in islands, cars and property, traveling the world while running his exchange. Given the mysterious circumstances of his deathand the enormous amount of money he controlledits no surprise that conspiracies quickly sprang up in an attempt to piece together the puzzles around his death. 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. 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. He graduated from York in 2010 with a bachelor's degree in business administration. On the 9th, he allegedly died after episodes of cardiac arrest. Thats when the. **Warning Spoilers ahead for Trust No One: The Hunt for the Crypto King**. ", 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. One of the Globe reporters had a hunch that this was Gerry Cotten, and traced the account to another online den of thieves, BlackHatWorld. The thing about conspiracy theories, though, is that they mutate out of control very quickly, and arent always reflective of the latest evidence. Many believe that Cotten faked his death, however, as part of an exit scam to get away with stealing millions from Quadrigas customers. (Neither men were charged in connection with Liberty Reserve). [19], Some Reddit users have suggested that Cotten faked his own death in order to defraud customers through an exit scam, while others believe that Cotten's death exposed a Ponzi scheme. Cotten also took flying lessons as he appeared to be possibly preparing for a life on the run. It sucks.". He appointed his wife as the executor of his estate, handing over a $9million real estate empire, his yacht and his Cessna plane - and he even left his two dogs an inheritance of $100,000. "I could have invested it in real estate. Business picked up when Bitcoin hit the big time in 2017, reaching prices close to $20,000. In December 2018, Cotten died during his honeymoon with his wife, Jennifer Robertson, in Jaipur, India. Jilted investors in a defunct cryptocurrency company want to confirm the death of the business's founder by exhuming his remains. Cryptocurrency investors locked out of $190m after exchange founder dies, Original reporting and incisive analysis, direct from the Guardian every morning. So the Globe goes to Cottens hospital in India to put the whole fake death thing to bed. Reported by Fansided, Globe and Mail journalist Nathan Vanderklippe spoke to Dr. Sharma, who dealt with Cotten when he came into the hospital. So, Patryn: shit-stirrer, criminal mastermind or another one beguiled by Cotten? [17][20], In 2017, Bitcoin experienced a speculative frenzy rising in price from about US$1,000 to almost US$20,000. He passed away in 2018 with the secret of $250 million. Stay up to date with what you want to know. A computer issue wiped $14 million of Ethereum off the exchange. Gerald 'Gerry' Cotten died in 2018, taking password to access funds with him Credit: Netflix. There's only two people who really know what happened in India. 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. 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 added: "We thought we were looking for basically a rich guy who had stolen money, Now either [Cotten is] dead, or if hes alive, hes a gambling addict whos broke.". Some also believe that Gerald isnt even dead at all but rather hiding away with the hundreds of millions of dollars he controlled. 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. Its pretty much money by people for people.. I just prayed. - October, November, December - during all that time," he said. [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. 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. lets break it all down. A big chunk of it was given to him by his parents. On this Wikipedia the language links are at the top of the page across from the article title. At this point, lots of investors think that Cotten, a man alleged to have a history of scamming, really had faked his own death. The only catch: only Gerry knew the passwords to the companys crypto-vaults. Either this is a 1 in 100 million coincidence or he is still alive. https://bit.ly/3cAIH4j Newest Vid's https:. The Netflix documentary will follow investors-turned-investigators looking into theories on the founder's sudden death. The doctor, reported the Globe, initially diagnosed Cotten with little more than travelers diahrrea, but kept him in hospital just in case. 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. But even the forensic accountants only managed to trace $46 million of the total $215 million customers had deposited onto the exchange. [54], A 2021 8-episode podcast entitled Exit Scam followed the buildup of Quadriga, and investigated whether Gerald Cotten had faked his own death. 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. 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 teen, a bright computer enthusiast from Belleville, Ontario, ran the operation on an online forum called TalkGold . He launched QuadrigaCX in 2013, and it quickly became one of the largest crypto exchanges. She says she never received the passwords. [33], Cotten's will was signed 27 November 2018, twelve days before he allegedly died. Fake trading: I'm almost certain that he was trading with fake crypto, Chris Markay was one of the accounts that Cotten used to trade his "crypto" he also is known to have other aliases Sceptre Gerry, Aretwo Deetwo and Seethree Peaohh. 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. 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. It was one of the only games in town [for crypto enthusiasts], Sheona McDonald, who directed the film, told The New York Post. Quadriga's customers are owed C$260 million in cryptocurrency and cash. [42] Another three empty wallets were believed to possibly be owned by Quadriga. Gerald Cleophas Betzen, 68. March 30, 2022. A sneak preview of the Netflix doc contains images that suggest the documentary will show the investors dive deeper into these conspiracies. By Robin Hill-Gray. Here's my take on Gerald Cotten and his suspicious 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. 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. Fifteen years later, Mr Cotten, known as Gerry, would be accused of swindling people online of a much bigger prize. TRUST NO ONE: THE HUNT FOR THE CRYPTO KING, a DONT F*CK WITH CATS-style investigative thriller, is now streaming on Netflix. 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. 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 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. 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". Did Cotten fake his own death, investors began to ask, absconding to lands anew under a new name and a surgically rejigged face? 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. 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. A C$100,000 trust fund was made to provide lifelong care for Cotten's two chihuahuas in case of Robertson's death.

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