Next year, Netflix will release a film about the founder of the QuadrigaCX exchange Gerald Cotten, whose death led to the loss of access to cryptoassets by users of the site for $ 250 million.
According to a Netflix press release, the documentary, titled “Trust No One: The Hunt For The Crypto King,” will tell the story of Canadian cryptocurrency exchange founder Gerald Cotten, who died on his honeymoon in India in 2018.
The documentary will shed light on the actions of a group of exchange clients who are trying to uncover the suspicious death of a cryptocurrency multimillionaire and return $ 250 million, in their opinion, stolen from users of the site.
The film is directed by BAFTA-nominated documentary filmmaker Luke Sewell and produced by UK-based Minnow Films. The film will premiere in 2022.
Recall that in January 2019, the Canadian cryptocurrency exchange QuadrigaCX went offline after the death of its founder Gerald Cotten. Some of the site’s lenders believe that Cotten did not actually die, but faked his own death and fled with clients’ money. Lawyers for QuadrigaCX clients demanded the exhumation of Cotten’s body in early 2020, but were refused.
According to a report by Ernst & Young, the trustee of QuadrigaCX, Cotten spent the exchange’s money on luxury goods long before his death. To do this, he created a fake account at QuadrigaCX and bought cryptocurrencies from clients for fake Canadian dollars.
An investigation by journalist Amy Castor detailed how Cotten had been involved in fraud for many years. Years before the opening of the exchange, he participated in the work of financial pyramids, one of which was closed by the FBI. Last summer, the Ontario Securities Commission said QuadrigaCX was also a pyramid scheme.
At the end of 2020, Ernst & Young announced that it could only satisfy the claims of users of the closed exchange for $ 29.8 million out of $ 171 million.
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