Netflix appears to be interested in the QuadrigaCX scandal since a documentary on the company’s CEO is planned to be released in 2022.
Netflix, the American online streaming service, is set to air a documentary about Gerald Cotten, the founder, and CEO of the now-defunct Canadian cryptocurrency exchange QuadrigaCX.
On Thursday, September 23, 2021, Netflix made the news through Twitter, alongside the documentary “Trust No One: The Hunt for the Crypto King.”
According to the description, a group of QuadrigaCX investors who have turned detectives will try to figure out what caused Cotten’s death and how the CEO allegedly stole $250 million from investors.
The Netflix documentary is based on the actual story of a cryptocurrency exchange in Canada that went bankrupt in 2019. It was one of Canada’s major Bitcoin exchanges until it went bankrupt.
However, the company’s fortunes took a turn for the worst when Gerald Cotten, the company’s founder, and CEO, died of Crohn’s disease at the age of 30 in Jaipur, India. The fact that only Cotten had access to the exchange’s cold storage wallet added to the intrigue since clients could not recover their cash.
QuadrigaCX owes customers about 250 million CAD ($197.5 million) at the time, according to a court document. Lawyers for the company’s victims have even demanded that the QuadrigaCX CEO’s body be unearthed to determine Cotten’s identity and cause of death.
The Ontario Securities Commission (OSC), Canada’s securities regulator, issued a report on its investigations into QuadrigaCX in June 2020, more than a year after the exchange went bankrupt. According to the OSC, the business went bankrupt not because of Cotten’s death but because of the CEO’s fraudulent conduct while he was still alive.
Even though Netflix did not provide a specific release date for the documentary, the online streaming giant stated that it will premiere in 2022.