A man has narrated how he lost all of his life savings after investing the entire amount with a cryptocurrency trader who died in 2018.
The man identified as Tong Zuo, recounted how he invested the money with a company called Quadriga CX, and trusted the founder and CEO, Gerald William Cotten, with the funds as he had password to all his clients’ accounts.
According to reports, 76,000 people invested an estimated total of $250 million with Gerald before he passed away, causing all of them to lose their monies.
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Narrating his story, Zuo said most of his money came from his parents and he invested it in cryptocurrencies to avoid paying bank charges when he moved from the US to Canada.
Meanwhile, the Canadian-based company which is no longer operational, claims they can’t pay people their monies because they have a legal matter with a bank.
“I kept asking them: Where’s my money? – October, November, December – during all that time. They kept saying it was the lawsuit. I couldn’t get any sleep. I just prayed. I really prayed it wasn’t a scam. At that time, there was nothing I could do. There was no way of getting my money back. Once I deposited it, it was basically gone,” Zuo added.
Cotten’s wife, Jennifer, claims he planned to give her access to the password in the event of his death but he never did.
Zuo’s sad story and others has been featured in a Netflix documentary “Trust No One: The Hunt For The Crypto King.”
