The crypto king is reportedly dead. A man who claimed to have the ability to transfer money from one person to another has passed away, and experts believe the funds that he claims to have deposited were stolen. That’s right, the crypto king, Gerry Cotten, was a fraud and he had been siphoning off millions of dollars from clients in the past. Read on to find out more about his death and how it is linked to the cryptocurrency scam.
Gerry Cotten’s death is a cryptocurrency scam
If you’re an investor in the digital currency market, chances are you’ve heard about Gerry Cotten. He was the founder of the Canadian crypto exchange Quadriga CX, which was the biggest exchange in the country at the time.
But the Canadian entrepreneur also left behind a trail of fraudulent activities. One of these was stealing customer funds. A group of investors is trying to figure out how Gerald Cotten died, and how he managed to steal $250 million in investor funds.
The crypto community needs to understand that some scammers will disappear without a trace, or offer partial cash-outs. That means you must have a legal mechanism for recovering funds stolen from you. And there are still several huge scams out there in the digital currency market.
Some of these scams involve HYIPs, or high-yield inves
tment plans. In these schemes, investors are lured by promises of big returns, usually with a minimum amount of money.
Cotten’s partner was an alias for Omar Dhanani
In The Hunt for the Crypto King, Michael Patryn is described as Gerald Cotten’s partner. This isn’t quite the truth. Rather, he is a con artist alias for Omar Dhanani.
Cotten and Patryn met online, and Patryn supposedly worked as an adviser to Cotten. Their relationship began on an investment program website called TalkGold. After a while, they became regular posters and commenters on the same message boards. They made inside jokes and responded to each other’s posts.
A few years later, Omar Dhanani was arrested in the United States on charges of fraud. According to authorities, he is a member of an identity theft ring that traffics stolen credit card information. He was also involved in a global sting operation, targeting an online marketplace for forged documents.
During the investigation, a QCX-INT guy uncovered the secrets of Cotten’s fortune. He was the only person with the passcodes to customer funds.
Cotten’s missing $250 million is a cryptocurrency scam
Gerry Cotten, the Canadian crypto whiz, died suddenly last year in India. He had more than $250 million in Quadriga accounts when he passed away, but it seems the money has gone missing.
According to a court filing, there were more than 76,319 unsecured creditors owed $214.6 million. These include a large number of Quadriga users. However, the vast majority of the funds haven’t been found. The Quadriga community has been left devastated by Cotten’s death.
As a result, a new documentary, “Dead Man’s Switch,” has been released. It is based on the story of Gerald Cotten and his wife, Jennifer Robertson. They met on a forum called TalkGold.
They married, even while the cryptocurrency market was in turmoil. At the time, they owned a US$600,000 yacht.
Cotten and Robertson traveled to Jaipur, India, for their honeymoon. But when he fell ill, his condition deteriorated and he was rushed to a private hospital.