If you thought crypto was already confusing enough, Netflix just turned the chaos into a true-crime thriller. Their documentary, “Trust No One: The Hunt for the Crypto King,” dives headfirst into one of Canada’s wildest financial scandals — a story of missing millions, conspiracy theories, and a CEO who may or may not be dead.
This isn’t just a documentary about Bitcoin. It’s about trust, betrayal, and the people left picking up the pieces when the dream of easy money crashed down.
The rise (and sudden fall) of Gerald Cotten
At the centre of the Netflix documentary is Gerald “Gerry” Cotten, a young entrepreneur from Vancouver who founded the cryptocurrency exchange QuadrigaCX. On paper, Cotten was living the dream. He launched a platform that gave Canadians an easy way to invest in Bitcoin, and by the mid-2010s, Quadriga was booming.
But when Cotten died suddenly in 2018 while on his honeymoon in India, everything unravelled. According to reports, complications from Crohn’s disease caused his death at just 30 years old. His new wife, Jennifer Robertson, was the only one to see his body.
Here’s where things get really bizarre: Cotten was the only person with the passwords to access Quadriga’s funds. Overnight, around $250 million disappeared, leaving thousands of investors stranded.
Exit scam or tragic twist?
The Netflix documentary captures the chaos that followed Cotten’s death. Investors quickly banded together online, desperate to figure out whether they’d been scammed or caught in the fallout of poor planning. Many refused to believe Cotten had actually died.
The theories spiralled:
- Had Cotten faked his own death and run off with the money?
- Was he living under a new identity somewhere tropical, sipping cocktails while his investors went broke?
- Or was this just a case of one man holding too much power in an industry with no safety net?
The documentary calls this scenario an exit scam — when someone running a crypto exchange vanishes with the funds, leaving investors with nothing. With Cotten’s death certificate issued in India and no independent verification, the doubts only deepened.
Meet the sleuths
What makes Trust No One so gripping is the community of amateur detectives it follows. From message boards to YouTube deep dives, investors and internet sleuths pieced together Cotten’s financial trails, desperate to answer one question: was he really gone?
The documentary introduces us to QCXINT, a mysterious figure who appears in a fox mask. He claims to have lost hundreds of thousands of dollars in the Quadriga crash. His determination to uncover the truth reflects the obsession many felt when their savings vanished overnight.
We also hear from Cotten’s former business partners, family members, and journalists who covered the story. Each offers a different angle, and almost everyone has a theory. Some point to shady financial dealings, while others insist Cotten really did die in 2018.
Netflix’s take: fact or sensationalism?
Critics are divided on whether Trust No One digs deep enough. Some argue the documentary sensationalises the drama, relying heavily on conspiracy theories and amateur sleuths. Others say it captures the paranoia and distrust that defines much of the crypto world.
What’s clear is that Netflix knows how to spin real-life chaos into binge-worthy content. Even if you know the basics of the QuadrigaCX scandal, watching it play out with interviews, home footage, and dramatic recreations hits differently.
For some viewers, the unanswered questions are part of the appeal. For others, the lack of closure is just frustrating. After all, the $250 million hasn’t been fully recovered, and the biggest mystery — whether Cotten really died in India — remains unresolved.
Why Trust No One matters
On the surface, this is a story about crypto. But really, it’s a cautionary tale about trust, technology, and the risks of handing control to one person.
The QuadrigaCX scandal highlights the darker side of an industry that promises freedom from traditional banks. Without regulation or oversight, investors are vulnerable. One man’s death — or disappearance — can wipe out life savings in an instant.
The documentary also speaks to a wider cultural obsession: we love a mystery. From Tiger King to Don’t F**k With Cats, Netflix has mastered the art of turning internet-fuelled theories into must-watch television. Trust No One slots neatly into that trend, reminding viewers that truth is often stranger than fiction.
Should you watch it?
If you’re into true crime, financial scandals, or just love a good conspiracy theory, the Netflix Trust No One documentary is worth your time. It’s fast-paced, unsettling, and full of jaw-dropping moments.
Just don’t expect all the answers. As the title warns, “Trust No One.”
You can stream “Trust No One: The Hunt for the Crypto King” now on Netflix.
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FAQs
Is Trust No One based on a true story?
Yes. It follows real events surrounding QuadrigaCX, its customers, and its founder, Gerald Cotten.
Do we know what happened to the missing funds?
Not fully. Investigations traced activity and raised red flags, but the complete picture remains disputed.
Is the CEO really dead?
The documentary presents the death reports alongside scepticism from investors. It doesn’t deliver absolute proof either way.
What’s the key takeaway for viewers?
In crypto—or any high-risk space—spread risk, verify platforms, and never rely on a single point of failure.
