We are all set in our ways, and we all tend to follow the generations before us who used banks to store their money. Now there is a more rebellious decentralized option available to us – and that option is Cryptocurrency. There have been a lot of fascinating moments regarding Cryptocurrency. Netflix chose to bring us one of the most strangely enthralling stories in the crypto world by bringing us this documentary on QuadrigaCX. Trust No One: The Hunt for the Crypto King:
If you are anything like me, you only need to be remotely interested in the subject matter to watch a documentary. True crime documentaries are some of my favorite documentaries. If you have a similar taste to mine, then the hunt for the Crypto King will hit the spot for you.
The documentary centers on the now-defunct Canadian crypto exchange QuadrigaCX. The company was founded by Gerry Cotten – alongside fellow co-founder, Michael Patryn. The company traded from 2013 to 2019. The early years of Quadriga seemed full of success stories – with over 100,000 customers trading on the exchange. However, trouble was just around the corner.
Amazingly, the exchange began to stop transferring money to people; with the company blaming the bank for freezing their assets. Shortly after this issue appeared, co-founder Gerry Cotten passed away in India. His death was said to be Crohns related – and this is where the drama and conspiracy theories began.
Customers of QuadrigaCX were left in limbo, with many having invested their life savings, including a software engineer called Tong Zou. He suffered due to a downward turn in Bitcoin and had to sell his apartment. With his $400,000 life sayings invested with the hope of turning that into 500,000 on the promise from Quadriga to new sign-ups, he found himself unable to withdraw his money.
Emails from the company explained it would not be long and the issue would be resolved in a matter of weeks. Months passed, and reports began to emerge of financial irregularities within the company. Tong Zou, alongside many others, was more than anxious by this point. Then, the sudden death of Gerry Cotten turned their anxiety into a full-blown panic.
Tong Zou soon discovered a telegram forum with others affected by the QuadrigaCX disaster. They all began searching for answers with plenty of theories shared on the telegram group – these theories made the documentary utterly compelling. Many believed Cotten was not dead. Reports surfaced that he had plastic surgery and was living on an island somewhere.
When his widow Jennifer Robertson released a statement, the confusion among people affected increased ten-fold. Some interesting reveals during the documentary regarding Robertsons’ past call her credibility into question.
One of the heavily featured people in the documentary is a man with a 3-D panda face. He believes that Cotton pulled an exit scam. Many viewers could be forgiven for drowning in the many conspiracy theories in this documentary. The journalists who feature alongside the accountants all add an abundance of credibility when explaining the failures of QuadrigaCX. They quickly rule out many of the crazier conspiracy theories. These credible professionals make us feel we are getting closer to the truth.
Cryptocurrency is becoming more mainstream and many predict it will infiltrate our society and change the financial world as we know it. Trust No One: The Hunt For The Crypto King warns us successfully of the risks of the crypto market and what can go wrong in terms of losing money.
Director Luke Sewell successfully answers many questions. He tells this story in an enthralling, informative way. It’s a carefully made documentary that entertains conspiracy theories. It also presents facts which makes it well made because it looks at all aspects of this captivating story.
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