American online streaming giant Netflix is preparing to release a documentary, which focuses on the death of Gerald Cotten, founder and CEO of the now-defunct Canadian cryptocurrency exchange, QuadrigaCX.
- Netflix made the announcement via Twitter on Thursday (September 23, 2021), with the documentary titled “Trust no One: The Hunt for the Crypto King.”
- According to the synopsis, a group of QuadrigaCX investors who have become investigators will seek to uncover the suspicious death of Cotten and also the 250 CAD million belonging to investors that was allegedly stolen by the CEO.
THE PUPPER MASTER: HUNTING THE ULTIMATE CONMAN
This three-part series coming in January tells the insane story of an audacious conman who was convicted in 2005. Then, in a shocking twist, the story reaches into the present day as a family suddenly fears for their mom’s safety. pic.twitter.com/OLY179J1W4
— Netflix (@netflix) September 23, 2021
- The Netflix documentary is indeed based on the true events of a Canadian cryptocurrency exchange that collapsed in 2019. Before the company’s demise, it was one of the largest Bitcoin exchanges in Canada.
- However, things became bad for the company when its founder and CEO, Gerald Cotten, died in Jaipur, India, from Crohn’s disease at age 30. What made events interesting was the fact that only Cotten had access to the exchange’s cold storage wallet, meaning that customers could not get their funds back.
- A court filing at the time showed that QuadrigaCX owed users around 250 million CAD ($197.5 million). Lawyers representing the company’s victims even requested to have the body of the QuadrigaCX CEO exhumed to confirm Cotten’s identity and the cause of death.
- In June 2020, more than a year after the exchange collapsed, Canada’s securities regulator, the Ontario Securities Commission (OSC), published a report on its investigations into QuadrigaCX. According to the OSC, the company fell not because of Cotten’s death but as a result of the fraudulent activities by the CEO while he was alive.
- Although Netflix did not mention the exact date when it will release the documentary, the online streaming giant said the show will premier in 2022.