• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: BREAKING: Three Arrows Capital Co-Founder Receives 4-Month Jail Sentence In Singapore
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Three Arrows Capital Co-Founder Receives 4-Month Jail Sentence In Singapore
Netflix, “Trust No One: The Hunt for the Crypto King”

Everything We Know About Netflix’s “Trust No One: The Hunt for the Crypto King”

Eduardo Próspero by Eduardo Próspero
2 years ago
in Bitcoin, Bitcoin Businesses, Bitcoin Security
0

It’s about time Netflix’s true crime unit turned its eye to cryptocurrencies. In the tradition of “The Tinder Swindler,” “Crime Scene: The Vanishing at the Cecil Hotel,” and “Abducted in Plain Sight,” a new documentary will have people talking soon. This time, Netflix will tell the story of QuadrigaCX, a cryptocurrency exchange with something to hide. Did Gerry Cotton fake his own death or did his wife poison him? And more important still, are the coins locked forever?

Related Reading | Netflix Orders Doc Series About Crypto Laundering Of A Couple

But, let’s not get ahead of ourselves. “Bad Sport’s” Luke Sewell directed “Trust No One: The Hunt for the Crypto King.” Let’s quote the trailer’s YouTube description box:

“There’s only one rule in the world of crypto and bitcoin, trust no one. $250 million of bitcoin randomly disappears from QuadrigaCX, once Canada’s largest crypto exchange, and the only person who can get it back mysteriously dies. Greed is a matter of life and death in this true crime documentary about the rise and fall of QuadrigaCX, the mysterious death of its founder Gerry Cotton, and the victims left behind to pick up the pieces.”

This is the trailer:

What Does Netflix Know About QuadrigaCX?

SPOILER ALERT: Everything the following text covers might ruin your enjoyment of “Trust No One: The Hunt for the Crypto King.” Read it at your own peril.

Since QuadrigaCX is a Canadian company, we went to the Ontario Security Commission’s review of the case. The executive summary alone reveals a lot of what the documentary is about, and its similarities with the Mt. Gox case.

“The downfall of crypto asset trading platform QuadrigaCX (Quadriga) resulted from a fraud committed by Quadriga’s co-founder and CEO Gerald Cotten (Cotten). Clients entrusted their assets to Quadriga, which provided false assurances that those assets would be safeguarded. In reality, Cotten spent, traded and used those assets at will. Operating without any proper system of oversight or internal controls, Cotten was able to misuse client assets for years, unchecked and undetected, ultimately bringing down the entire platform.”

Not to victim-blame, but this whole thing happened because QuadrigaCX’s users trusted a third party. They gave custody to an entity that had all the permissions and none of the responsibilities. And, who could blame them? QuadrigaCX was certified by Canada’s anti-money-laundering authority, the company had a FinTRAC money-services business license. 

Back to the OSC report:

“Quadriga clients could not have known what Cotten was doing. Under the Quadriga business model, clients entrusted their money and crypto assets to Quadriga. Quadriga provided no meaningful insight into how those assets were being stored, moved and spent. To the contrary, Quadriga provided false assurances about asset storage.”

And when Gerry Cotton died taking the private keys for the whole operation with him, all hell broke loose.

BTCUSD price chart for 03/22/2022 - TradingView

BTC price chart for 03/22/2022 on FTX | Source: BTC/USD on TradingView.com

What Do We Know About Gerry Cotton?

This can also spoil your enjoyment of Netflix’s documentary, but, this is the Vanity Fair article that inspired it. In it, we find out who searches for Gerry Cotton. The Internet does. In the tradition of “Don’t F**k with Cats: Hunting an Internet Killer,” the article informs us about what happens in episode two of “Trust No One.”

“The most effective and thorough investigation to date, however, has been conducted by anonymous accounts posting on Twitter, Reddit, Pastebin, and Telegram. Their findings, though baroquely technical, could be distilled to a two-word conclusion:

Gerry’s alive.”

Related Reading | Paying Netflix With Bitcoin? Here Is How It Could Happen

The mainstream publication doesn’t let the opportunity to bash bitcoin go to waste. While discussing the legendary Pizza Day, Vanity Fair claims, “With that, Bitcoin became like any other form of currency, a mass delusion: Its value derived from the belief that it had value.” Yeah, sure. Have fun staying poor, Vanity Fair.

And, to the rest of you, have fun discovering the rest of the story by watching Netflix’s “The Crypto Swindl… we mean, “Trust No One: The Hunt for the Crypto King.”

Featured Image: Screenshot from the documentary's trailer | Charts by TradingView
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Eduardo Próspero

Eduardo Próspero

Eduardo Prospero is an author, a content writer, and a professional rapper. A Bitcoin maximalist in disguise. Working on a Bitcoin book. Beware of my Telegram impersonator!

Related Posts

Bitcoin price $30,000

Bitcoin Price Sets Sights On $30,000 As Holder Metric Hits New All-Time High

1 day ago
Bitcoin

Bitcoin Long-Term Metrics Point To A Different Scenario Than 2019 Fakeout: Top Analyst

1 day ago
Bitcoin

Bitcoin Hash Rate: Public Miners Account For Just 28% – Is Decentralization In Jeopardy?

2 days ago
Bitcoin

Bitcoin Recent Hiccup: Understanding The Invalid Block 

3 days ago
Bitcoin

Could Bitcoin Be On The Verge Of New ATH Rally? Analyst Identifies These Conditions

5 days ago
Bitcoin

Bitcoin Miners On The Defensive: Market Uncertainty Spurs Revenue Diversification – Analyst

5 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • 6 Best Cryptos To Buy For Huge Growth in 2023

    16 hours ago
  • Best 7 Cryptos For Beginners To Buy

    18 hours ago
  • From Setbacks to Success: Uwerx’s Recovery/Relaunch...

    20 hours ago
  • Prepare for the Next Bull Market: The 5 Best Cryptos to Buy...

    1 day ago
  • Meta Force and Lado Okhotnikov Presented the Results of...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.