Netflix will premier a new documentary about the QuadrigaCX exchange CEO in 2022 while the company still goes into its saga since its crash so let’s read more in our latest crypto news today.
The American streaming giant Netflix will premier a new documentary that focuses on the death of Gerald Cotten who was teh founder of the now-defunct Canadian crypto exchange QuadrigaCX. Netflix made the announcement via Twitter with the documentary titled “Trust no One: The Hunt for the Crypto King.” As per the synopsis, the group of QuadrigaCX investors that became investigators will seek to uncover the death of Cotten and the 250 CAD million that belonged to the investor which was reportedly stolen by the CEO.
The 2022 series revolves around a restaurateur that falls for a man who cons her out of millions after convincing her he can expand her food empire and make her beloved dog immortal — as long as she never questions his increasingly bizarre requests pic.twitter.com/BMBogLkk7u
— Netflix (@netflix) September 23, 2021
The documentary is based on the true events of the Canadian crypto exchange which collapsed in 2019 and before its demise, it was one of the biggest BTC exchanges in Canada. However, things became quite bad for the company when its founder and CEO Gerland Cotten died in India from Crohn’s disease at age 30. What became even more interesting was the fact that Cotten was the only person that had access to the exchange’s cold storage wallet which means that the customers could not get their money back.
The court filing at the time showed that the exchange owed users more than $198 million. The lawyers that represented the company’s victims requested to have the body of the CEO exhumed to confirm his identity and the cause of death. In June 2020, a year after the exchange collapsed, Canada’s securities regulator- Ontario’s Securities Commission published a report on the investigations into QuadrigacX and per the regulator, the company fell not really because of Cotten’s death but as a result of the fraudulent activities by the CEO during his time on this planet. Netflix didn’t mention the date when it will release the documentary as the online streaming giant said the show will premier in 2022.
As recently reported, QuadrigaCX is bankrupt but 17,053 users filed claims worth a collective of $291 million. EY, the Quadriga trustee filed a report with a Canadian court outlining how it believes recovered funds should be distributed. Back in 2018, the founder of the exchange Gerald Cotten died. Two years later, users of the crypto exchange tried to get their money back but they are still unable to do so.
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