Jennifer Robertson, the widow of QuadrigaCX founder Gerald (Gerry) Cotten, will be allowed to keep more than $90,000 cash and a Jeep Cherokee in a settlement agreement with the company's bankruptcy trustee. He was one of the wealthiest people in the crypto world, and his company was at its pinnacle. #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/ 'Trust No One: The Hunt for the Crypto King' will be released sometime in 2022. 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". Gerald Cotten is still alive (proof) I remember exactly 2 and a half weeks ago, someone on this subreddit that was jokingly talking about gerald said "Watch Quadriga say that they can't access cold wallets because Gerald died and he was the only one with access to the keys". It certainly started to look like fraud, said one anonymous investor in the doc. The 33-year-old has attempted to get his money back in a lawsuit, but hasn't had any luck as yet. Gerald Gerry Cotten is the founder of Canadian cryptocurrency exchange Quadriga Fintech Solutions and is at the helm of a groundbreaking investment scam that the Netflix documentary investigates. , initially diagnosed Cotten with little more than travelers diahrrea, but kept him in hospital just in case. 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,. 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. His clients were locked out of about $250 million, and investigators later. It stated that Gerald Cotten committed fraud by opening accounts under aliases and crediting himself with fictitious currency and crypto asset balances, which he traded with unsuspecting clients and that "What happened at Quadriga was an old-fashioned fraud wrapped in modern technology. Gerald Cotten is allegedly meant to have died from Crohn's disease after the exchange crashed. The user said that he left the company in 2016, and that the company was legitimate at the time. "What Quadriga really did with the money that customers gave it to buy Bitcoin remains a mystery," according to Chainalysis. Its pretty much money by people for people.. Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in, Investors are still hunting for millions in vanished cryptocurrencies, writes Josh Marcus, Find your bookmarks in your Independent Premium section, under my profile. ET. And who dies from Crohns disease at 24 years old? The crypto entrepreneur bought increasingly lavish purchases: a $600,000 yacht, a high-end Lexus, 17 homes in Canada, a plane. 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. Image Credit: CTV Your Morning/YouTube. 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. - Watch Full Details ! Still, all this evidence was circumstantialinvestors hadnt yet found a smoking gun. It essentially removes the need for a central authority. My sisters not a liar.. 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. Gerald Cotten died suddenly of Crohn's disease - or did he? Was a recently-active Skype account proof he was still alive? I put myself into a deep hole and the only way to dig out of it was to sell my house.. 29 2022, Published 3:03 p.m. Netflix has seen a boom with its true-crime docuseries, from 'Tiger King' to 'Making a Murderer.' Then, the crypto millionaire suddenly died in India from complications from Crohn's disease about three years ago. The circumstances sparked speculation from some in the crypto community that the CEO faked his death and stole his clients' money. 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? Cotten encrypted and stored about $190 million worth of his customers' Bitcoin caches and held sole responsibility for the passwords needed to access those funds. 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. 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." 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. We explain how to spot them. Thinking that Jennifer had murdered Cotten, the Telegram group spiraled out of control. Then Gerald Cotten suddenly died, in December of 2018, from complications with Crohn's disease. The estate includes an airplane, a sailboat, a 2017 Lexus, and real estate in Nova Scotia and Kelowna, British Columbia. The public didnt learn about the death for another 36 days, until January 2019. 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. "I kept asking them: Where's my money? Angry and suspicious investors congregated on Reddit and Telegram to try to get to the bottom of the mystery. Trust No One depicts Cotten as a nerdy, happy-go-lucky, and charming CEO, who was knee-deep in Bitcoin and a fierce advocate of the technology. They surfed his social media accounts at first, then traced Cottens digital footprints even more closely for clues. It sucks.". [33] Aaron Matthews served as Director of Operations. Quadriga's accounts are estimated to have held 190million ($250million). Cotten In 2013 was looking for a programmer to help him create a bitcoin marketplace using the account name Murdoch1337 on a BlackHat Forum and this account was last seen active in August 2019 at this point he should have been "dead" for a long time. 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. Here's a link to the BlackHat forum. Some speculate that Cotten, who suffered with Crohn's disease, might actually be alive. But when the banks, the law, and the. 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. In November 2018 the case was decided with the accounts going to the court to decide the ownership individually. He died just nine days into his honeymoon due to an acute stomach ache. But even the forensic accountants only managed to trace $46 million of the total $215 million customers had deposited onto the exchange. that after 2016, QuadrigaCX stopped producing consistent data about its holdings, and that large volumes of cryptocurrencies were being sent to foreign crypto exchanges. Robertsons sister, for the record, doesnt think that Cotten had fabricated his relationship with Jennifer. His body was embalmed and sent back to Canada for a closed-casket funeral. But when co-founder Cotten died during a honeymoon in India, the money was seemingly lost forever. 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. Overcast with rain showers at times. An official investigation concluded that Quadriga was"an old-fashioned fraud wrapped in modern technology". I took out three loans from the bank and put it all into crypto. But even the forensic accountants only managed to trace $46 million of the total $215 million customers had deposited onto the exchange. The doctor, reported the Globe, initially diagnosed Cotten with little more than travelers diahrrea, but kept him in hospital just in case. He hopes the Netflix doc will get authorities to "move their asses and do something about it" but also to raise awareness "so it doesn't happen to other people". [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. seeks to unravel the mystery of Gerald Cotten, the CEO of crypto exchange QuadrigaCX, who died in 2018. In that case, $851 million entrusted to Crypto Capital had been "lost, stolen or absconded with", according to the suit. Many believe that Cotten faked his death, however, as part of an exit scam to get away with. [17] In June 2017, Quadriga announced that they had lost ethereum worth US$14 million due to a smart contract error. She has also said she has no idea what the passwords are to access sequestered customer funds, and that it wasnt written down anywhere. Thats when the Globe started to be convinced that he was dead, after all. Cotten told a Globe and Mail reporter that the banks, which didnt trust crypto exchanges, had frozen the exchanges bank accounts. After some more digging, the reporter found an order form filled out by one Gerald Cotten. A C$100,000 trust fund was made to provide lifelong care for Cotten's two chihuahuas in case of Robertson's death. ", "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? Quadriga started by doing only local trades. 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. Though some dont believe Mr Cotten is really gone, the money from Quadriga is. He launched QuadrigaCX in 2013, and it quickly became one of the largest crypto exchanges. 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. Now . The media dragged Gerald Cotten's wife, Jennifer Robertson, into the spotlight after his mysterious death. 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. Despite repeated and diligent searches, I have not been able to find them written down anywhere, she said in court filings. And for some, things still looked suspicious. 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. [42] Another three empty wallets were believed to possibly be owned by Quadriga. [48], On 5 February 2019, Nova Scotia Supreme Court Justice Michael J. Was a recently-active Skype account proof he was still alive? 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. I'm 99% sure he is still alive living nicely. 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. ", 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. His death sparked online debates and string theories on Reddit and. On this Wikipedia the language links are at the top of the page across from the article title. A computer issue wiped $14 million of Ethereum off the exchange. as well as other partner offers and accept our. Still, questions about the missing money only mounted when two. Dying from Crohn's disease when only 1.6% of sufferers from this disease die of it and to happen to die from . reporters had a hunch that this was Gerry Cotten, and traced the account to another online den of thieves, BlackHatWorld. "[40][41], Ernst & Young found five Quadriga cold wallet addresses, but they were empty, containing no cryptocurrency since April 2018. Quadriga Fintech Solutions was the owner and operator of QuadrigaCX, which was believed to be Canada's largest cryptocurrency exchange. And why did the Indian hospital that treated Cotten misspell his name on his death certificate? Netflix Special on Bitcoin Fraudster Gerald Cotten, His Wife, and QuadrigaCX. Premieres in 2022 pic.twitter.com/rP9iFJHkWm. Was the CEOknown for his luxurious lifestyle, which included jets, supercars and vacationsmurdered by a mob debt collector or a jealous lover? 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? Thinking that Jennifer had murdered Cotten, the Telegram group spiraled out of control. (India is notorious for forging fake death certificates by paying people off). Evidence of him faking death: There's lots of bizaare things that are suspicious. 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. 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. You transferred them $1,000 and you could see the crypto in your account. Fifteen years later, Mr Cotten, known as Gerry, would be accused of swindling people online of a much bigger prize. Mr Cotten, 30 at the time of his death, seemed to be living the dream life of a financial titan. [21], Throughout 2018, as Bitcoin prices crashed, customers of the exchange reported delays when attempting to withdraw dollars. The company raised C$850,000 but cancelled plans to list on the exchange in early 2016. He appointed Peter Wedlake of Grant Thornton to be chief restructuring officer. Gerald Cotten is a bitcoin millionaire from Canada whose death, supposedly from complications relating to Crohn's disease, is now being questioned. Was Patryn, whom employees described as a macho, terrifying character, calling the shots, not Cotten? On 10 December, a death certificate was issued by the local municipality as well as a "no objection certificate" from the police to return the body to Nova Scotia. 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. "Trust No One: The Hunt for the Crypto King". And, wildly, was Jennifer, his wife, even. Gerald Cotten. 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. Then it emerged that Jennifer had legally changed her name three times in the past few years, and a man sharing one of her former last names was at the center of an unsolved murder case. 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. Start your Independent Premium subscription today. #GeraldCottenReallyDead #GeraldCottenStillAliveGerald Cotten Really Dead ? [16] In 2014 only C$7.4 million worth of bitcoin were exchanged on Quadriga. One of the Globe reporters had a hunch that this was Gerry Cotten, and traced the account to another online den of thieves, BlackHatWorld. I believe this is the reason why Quadriga could be formed because they made a fortune from Scamming before Quadriga. The company's CEO and founder, Gerald William Cotten, allegedly died in 2018 after traveling to India. Then, out of the blue, one Mike Patryn joined the Telegram group that investors were using to discuss conspiracies. However, it was eventually discovered that Gerald had transferred all of his belongings to his wife before his death. Exit Scam host Aaron Lammer told CoinDesk: "My read was that, on some level, Gerry was addicted to scamming, "Addicted to stealing peoples money. No longer a likable nerd, investors thought that Gerald, now sceptre, had been operating scams since he was 15. The thing about conspiracy theories, though, is that they mutate out of control very quickly, and arent always reflective of the latest evidence. 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. Jilted investors of Cotton's crypto firm QuadrigaCX have demanded his corpse be exhumed and tests run to confirm its his body. lets break it all down. [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. He was 30-years-old. Gerald Cleophas Betzen, 68. Something was afoot. Subsequent investigations found that Michael Patryn, one of the co-founders, registered the domain name for QuadrigaCXnot Gerry. 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.