Exit Scam: Coming May 10th

Exit Scam

Treats Media

Society & Culture, Technology, Documentary, True Crime

4.6 • 856 Ratings

🗓️ 5 May 2021

⏱️ 2 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In 2018, Gerald Cotten, the founder of Canada’s biggest Bitcoin exchange, died under mysterious circumstances during a honeymoon trip to India. His customers were told that the $215 million they’d deposited on the exchange was lost forever — because Gerry had forgotten to leave behind his passwords. But not everyone believes he’s dead. The first episode of Exit Scam (“The Lost Password”) will be available Monday, May 10th. Please subscribe! To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:00.0	I want to tell you the story of Gerald Cotton.
0:06.0	Jerry was the CEO of the biggest Bitcoin exchange in Canada.
0:10.0	It was called Quadriga.
0:12.0	In the fall of 2018, Jerry and his wife went to India on their honeymoon.
0:18.0	But a week into their trip, he suddenly came down with stomach pains,
0:22.0	and then he died.
0:24.0	That was a problem for Jerry's customers because he was the only person who knew the
0:29.8	passwords to access the money in their accounts.
0:33.0	A combined $215 million in Bitcoin and other
0:38.0	cryptocurencies.
0:39.0	Jerry took those passwords with him to the grave,
0:42.0	and without them, all of his customers'
0:45.0	money was locked up forever, with no chance of being returned.
0:50.2	Or at least that's what those customers were told.
0:54.3	Does Jerry's story sound fishy to you?
0:58.0	It sounded fishy to me too.
1:00.0	So I spent the past two years investigating.
1:03.2	Believe me when I tell you, that nothing could have prepared me for what I found.
1:10.0	Since 15, he was a con man.
1:12.1	I mean, he was running these schemes since he was a kid.
1:15.6	We realized the money was gone pretty much immediately from the code that's all in the
1:21.5	blockchain. I honestly said I don't know if this guy owns money to people.
	...

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