The Disappearing Wolf of Bitcoin: People Die and Money?

Conspiracy theories are everywhere.


Zou Tong felt that the blood in his head suddenly emptied, and his face became pale.

The curtains were drawn in the room, and it was pitch black. Sitting in front of the computer, he was wearing a crumpled shirt, his hair was very greasy, and his slightly swollen eyes stared straight at the screen.

That day was January 14, 2019. After he typed “Quadriga digital currency trading platform” into the search box, a news popped up: “A shocking mystery has been revealed, involving the death of Quadriga founder Gerard Cotton and the disappearance of $250 million (approximately $250 million). 1.67 billion yuan).”

All his savings were in that platform and disappeared too? !

He froze. After a while, he remembered to log in to the online chat group and meet other “investors abandoned by Quadriga”.

Full of anger and nowhere to vent, the keyboard clicks crackling, and all kinds of conspiracy theories swipe the screen.

“Cotton must be alive!”

“He faked his death and absconded with the money.”

“I prefer it to be murder.”

“Give me my money back!”

Cotton disappeared, the king of bitcoin turned into the wolf of bitcoin, and the entire digital currency world was in panic.

People are dead, money is gone?

2018, San Francisco, USA.

“Look at the price of Bitcoin!” In the street beer house, someone took out his mobile phone and started shouting: “Oh my God! Look at it, it has risen!”

When Quadriga was founded in 2013, a bitcoin was worth only $100 (about 671 yuan). By the end of 2017, the price of one bitcoin had soared to $20,000 (about 140,000 yuan).

· Bitcoin concept map.

The skyrocketing bitcoin has become a shortcut to getting rich. Walk into a bar and you might run into a bartender chatting with you: “Hey man, I made a Rolls Royce last night.”

Chinese-Canadian Zou Tong is in his early 30s and works for a software company in San Francisco with a decent salary.

But he couldn’t resist the temptation. The friends around him made a lot of money by speculating on coins, and he was itching to see it. As soon as he gritted his teeth, he took out a loan of $85,000 (about 570,000 yuan) at high interest and exchanged it all for bitcoin. “No one has the patience to get rich slowly, I want to be as rich as my friends.”

At first, Zou Tong looked at the daily soaring Bitcoin and was very proud.

It just didn’t last long.

The market fluctuated, words such as “today’s plummeting” appeared frequently, and Zou Tong was disturbed by waves of unease. By the end of 2018, Bitcoin had fallen to around $4,000 (about 27,000 RMB).

In just 24 hours, the entire digital currency market lost more than $60 billion (about 402.5 billion yuan). Those who think they are rich go bankrupt overnight.

After a series of slumps, Zou Tong’s 8th principal cost was lost. He became irritable and his attitude towards those around him deteriorated. The only thing he could think of was to sell the apartment he had worked so hard to buy, pay off his debts, and return to Canada with the remaining $400,000 (about 2.68 million yuan).

How can I convert this money into Canadian dollars? If you go to the bank, the 2% service fee is not a decimal. Zou Tong thought of Quadriga, this platform does not charge service fees.

On guard, he did his homework and typed “Gerald Cotton” into the search box.

In a talk show, the red-haired Cotton looks like the boy next door. He is a tech nerd who likes “Pokémon” and is keen on new technology products. The host praised him as “will be the second Zuckerberg (Facebook founder)”, Cotton looked down and smirked, looking shy.

The Disappearing Wolf of Bitcoin: People Die and Money?

Cotton being interviewed.

Zou Tong didn’t doubt at all, ignoring Cotton’s weird expression.

Turning on the computer, Zou Tong put all his fortune into Quadriga. The page displays “Paying” and “Transaction” in sequence, and everything goes well.

When the 400,000 US dollars were all converted into Bitcoin, he immediately clicked the mouse to withdraw 500,000 Canadian dollars (about 2.59 million yuan). “Your application has been accepted”.

He did not expect that this page lasted from October to December 2018 without any movement.

His heart was getting heavier. Until January 14, 2019, the news of “Cotton’s sudden death in India” appeared impressively. He was completely panicked and logged on to Quadriga’s website again, and the page was “unable to find”.

Subsequently, Quadriga issued an announcement that no one knew the platform key.

Only then did Tong Zou know that Cotton was the only one who had the key. When Cotton died, the $250 million held by customers was also locked, and no one could open it.

Zou Tong couldn’t help trembling: “I seem to have a heart attack and I can’t breathe at all.”

bizarre death

Jaipur, the capital of the Indian state of Rajasthan, in 2019.

Nathan Van, a special correspondent for Canada’s Globe and Mail, came to this ancient city in northern India. Like Zou Tong, he was puzzled by one thing: “How could a Canadian entrepreneur die mysteriously in India?”

In December 2018, Cotton traveled to India with his new wife Jenny. In the eyes of friends, the couple has a successful career and travels and splurges. Especially in 2017 when Bitcoin was skyrocketing, Cotton bought a plane, a boat, and even an island.

The Disappearing Wolf of Bitcoin: People Die and Money?

Cotton (far right) travels with Jenny.

Cotton’s death was clouded by suspicion from the start.

During that trip to Jaipur, they booked a luxury hotel. On the morning of December 8, Cotton checked in with his suitcase, dragged his exhausted body, and lay down on the bed as soon as he entered the door.

But it didn’t take long for Cotton to start complaining of a stomach ache. Jenny took him to the hospital. In the ward, Cotton vomited 10 times, and undigested food and gastric juices were all over the floor. The next day, Cotton went into cardiac arrest and was pronounced dead.

According to doctors, the condition is “unusual in medicine”.

Jenny suppressed the news of her husband’s death for more than a month. On January 14, 2019, she issued a statement: Cotton died in India from Crohn’s disease (a stomach disease with a 3% fatality rate).

Subsequently, Cotton’s death certificate began to circulate on the Internet. It was discovered that Cotton’s surname had been misspelled, with Cotton spelled as Cotton.

“Oh my God, this is too mysterious!”

“There is an error in the official document, it’s so suspicious.”

“Could Cotton not be dead?”

“Have you seen ‘Deadly Magic’? The best magic is always simple. He stole our money in broad daylight and got away.”

Online chat groups are excited and chaotic. Some people are desperate to get their money back, and some people directly change the group name to “Quadriga Conspiracy”.

The case escalates into a criminal case, and Nathan Van is ordered to travel to India. He was full of anticipation: “If it’s cheating, then it’s wonderful.”

Nathan Van goes to the doctor’s office to sign the death certificate. The doctor asked, “What can I help you with?” Nathan Van said, “I would like to know about the Canadian who passed away.”

The doctor wasn’t surprised – there was not only one reporter who had inquired about it.

Nathan Van wrote: Mr Cotton and Ms Jenny arrived at the hospital at 9:45 on December 8. The doctor’s initial diagnosis was just a heavier acclimatization. At noon the next day, his condition took a sharp turn for the worse. At 7:26 pm, his heart stopped beating.

The report dispelled the notion that “Cotten is still alive” in some people’s minds. But a new round of speculation began. All eyes are on Jenny – a beautiful woman who has inherited a large estate and millions of dollars.

“Do you think it was murder?”

“Yes, Jenny may have poisoned Cotton.”

“Arrest her, Cotton must have given her the key.”

“Things are getting more and more complicated, like the brain-burning plot of “CSI” (a classic American suspense drama).”

“I don’t believe Cotton is dead”

2021, Ontario, Canada.

Jenny received death threats.

After Cotton’s death, she returned to Canada alone, preparing for the funeral and dealing with company-related matters.

In the group, another question was asked: “How was Jenny’s mood at the funeral?” The account claiming to be an employee of Quadriga typed a line: “She pretended to be sad.”

Jenny insists she doesn’t know anything about the company, including the keys Cotton set up. She handed over Cotton’s legacy and most of her own assets to compensate a small number of the company’s clients. She then disappeared from the public eye.

In front of the camera, sister Kimberly became Jenny’s “spokesperson”. She recounted the perfect love between her sister and Cotton over and over again.

“The two met on the Internet and are each other’s soulmates. After Cotton left, she was very sad.” Facing the accusation, Kimberly was very excited: “My sister did not commit a crime!”

Investors who have suffered huge losses hold back. “In any case, the money is still missing.” “Money does not disappear out of thin air.”

Until the Ontario Securities Commission of Canada intervened in the investigation, the case gradually became clear.

The Securities and Exchange Commission found an “interesting thing” that Quadriga’s original domain name registrant was not Cotton, but a man named Patlin with a criminal record of information theft.

Patlin, an early partner at Cotton.

This is explosive news.

Following the clues, Cotton’s experience before founding Quadriga was dug up – he used the name Sept as an online name and ran several online scams, but the end was that Sept evaporated and swept away everyone’s money .

In the end, Sept was transformed into an upstart in the Internet financial circle: Gerald Cotton.

The darker and more sinister inside story of the case is revealed by removing Cotton’s mask – Cotton has been devising a deception since the day he founded Quadriga.

In 2017, the price of Bitcoin skyrocketed, and Quadriga developed into one of the most successful digital currency platforms in Canada. Cotton, however, transferred the client’s money to another exchange and traded it himself, hoping to make a fortune. Cotton, however, clearly does not understand digital currencies. He lost $160 million (about 1.07 billion yuan).

Police have yet to release the results of the investigation, but most investors are beginning to believe that Cotton is dead and the chances of getting his money back are slim.

Backtracking the entire case, conspiracy theories are everywhere. In April 2022, streaming media Netflix made the case into a documentary “No One Can Trust: Cryptocurrency Unsolved Cases”.

The Disappearing Wolf of Bitcoin: People Die and Money?

Documentary poster.

“Conspiracy theories stem from ignorance.” An audience sighed with a reporter from “Global People”. And the strange elements in the event made it easier for them to make wild guesses. Netizens solve the case in their own way, only believing in the “truth” that is beneficial to them.

At the end of the documentary, an angry investor suddenly mentioned Cotton’s funeral: “No one saw the body in the coffin, I don’t believe Cotton is dead.”

He was paranoid: “This huge sum of money has been transferred to Bermuda, where there is a plastic surgeon who has operated on Cotton. Cotton is spending his days on the island, waiting for Jenny to be reunited. There is no one else in this world. recognize him.”

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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