Crypto-parano: bad lawsuit ZDNet

Crypto-parano: wrong trial

Gerald Cotten had set up a cryptocurrency exchange company in Canada. At the time, it was not possible for Canadians to convert cryptocurrencies into dollars without going through a host of intermediaries. The company was doing well, but everything collapsed when its founder died. Netflix has decided to return to this story in a documentary.

Money too easy

The documentary opens with cryptocurrency investors losing their balls. In summary, instead of making investments like good fathers, some have bet absolutely everything on cryptocurrencies in hopes of making easy money. This is the first very big pitfall in the documentary.

Cryptocurrencies are presented in a very favorable light, accessible to all. However, the cryptocurrency system is not available to anyone, neither financially nor technically. This is based on pure and harsh speculation, just like the stock market. Like the stock market, you do not put all your eggs in one basket. The people who appear in the documentary made this big mistake. They only recognize by word of mouth that they made a miscalculation.

Even today, some sellers or intermediaries present cryptocurrencies as an easy way to make money, and if the technique has certain benefits, especially for payments, it remains somewhat risky, much like shares in the Sotck stock exchange.

There is no magic money. Even real estate investments can collapse from one day to the next for various reasons. The documentary would have been more relevant if it had set aside a few minutes for a reminder of this type, especially since it only lasts an hour and a half. But that is not the only problem with this report.

Gender confusion

After an hour, a particular website pops up, more precisely a forum, presented as a haunt for hackers. A bit of a problem: it is not a forum for hackers at all. In fact, this is a forum dedicated to web marketing. It is one of the oldest and most serious on this subject. No one ever talks about hacking techniques except to protect themselves from some specific attacks.

The smallest post requesting information on hacking techniques will be deleted within a quarter of an hour. Same for topics requesting hacked data. The only real illegal point that quietly lives its life on this forum is counterfeiting of digital content.

As for the marketplace where the Quadriga founder would have made requests, it might have been relevant to inquire. There is a marketplace where everyone can either offer their services or request services. Again, not everything is allowed. And above all, there is a “shitlist”. Any member of the forum who would have problems with a service provider that he would have found on this forum can open a topic and explain his complaints. Moderators act as judges. In case of non-solution, the wrong provider is prohibited.

How can I say this with certainty? Because I have been checking out this forum since 2016 and have been a member for over a year. I go there daily. Suffice it to say that when the documentary appeared on Netflix, half of the members commented on it. Are they hackers? None. If some have a good knowledge of Python or PHP, at least half do not know how to code. We also talk about cryptocurrencies, but this is not the bulk of the forum. It is a detail in the documentary, but not least.

Conspiracy theory

Which leads to another problem with documentaries. The founder died in December 2018. Following the trail, some cryptocurrency holders discovered that some of his profiles were active after his death. Including his profile on the famous forum, whose last connection goes back to August 2019.

Since then, wild theories have been circulating, including one that says the founder would not have died and would have fled with the fund. The other nonsense is that his wife murdered him and grabbed the money. In summary, we have a bunch of guys raving about Telegram.

Among the points blamed on Cotten and Patryn is the fact that they have used multiple identities. Something everyone does online, especially on web marketing forums. He is accused of having created a job offer on the “deep web”. So deep that the ad appears very quietly in Google. And if the person who is said to be Gérard Cotten on the famous forum mentioned above is really a hairy nerd, we’ll have to explain all his threads. All the questions asked are ultra-basic. Either he is a computer genius or he is not. But we have never seen computer geniuses ask how to buy old Reddit accounts or ask someone to install WordPress for them.

The problem is that the documentary holds the conspiracy theories almost to the end. The reality is probably more down to earth: Gerald Cotten simply used his customers’ money for his own account. Is crypto-parano worth a detour? Honestly, no more than that. He has too many mistakes to be taken seriously. But if you have an hour and a half left, go for it.

Leave a Comment