Many who have been active participants in the digital currency ecosystem for some time may know about QuadrigaCx, a centralized Canadian cryptocurrency exchange whose owner, Gerald Cotten died, plunging the trading platform into long-protracted chaos. With the exchange storing its customer’s keys and funds in a centralized database that only Cotten had access to, many users were unable to access their funds on the trading platform. A total of over $250 million was reported missing at the time.
With a series of court cases and the legal system’s intervention, Ernst & Young, a globally renowned auditing firm was contracted to investigate the exchange and perhaps proffer a solution that could lead to customer’s succor. Trailing this story of hurt and intrigue, popular video streaming and movie production giant, Netflix Inc has announced it will unveil a documentary about the QuadrigaCx exchange as part of the series of new shows it plans to debut in the coming months.
The Netflix-QuadrigaCx documentary is titled TRUST NO ONE: THE HUNT FOR THE CRYPTO KING, and is based on the beliefs of some of the platform’s customers who have held onto the opinion that Gerard Cotten’s death was faked so he could run away with people’s money.
“Follow a group of investors turned sleuths as they try to unlock the suspicious death of cryptocurrency multimillionaire Gerry Cotten and the missing $250 million they believe he stole from them,” Netflix tweeted in its description of the documentary.
QuadrigaCx Declared Bankruptcy
After a long legal tussle, the Apex Canadian Court, the Nova Scotia Supreme finally declared the digital currency trading platform ‘bankrupt,’ as of April 2019. As part of the moves to settle users of the platform, EY reached an agreement with the third-party processors where the exchange user’s pending payments were yet to be settled.
The reserve assets of Cotten were also locked and his widowed wife was prohibited from selling off the assets, should there be a need to cover up extra costs in paying the aggrieved exchange’s customers. Known for its precision in its documentaries, there may be a number of never-before-seen or heard of details in the QuadrigaCx and Gerald Cotten’s case that may be unveiled in the Netflix original documentaries.
The documentary is billed to premiere in 2022.
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