Welcome to QuadrigaCX, Michael Patryn, the co-founder who became notorious for the crypto fraud of more than $200 million in investor funds.
A Netflix documentary, ‘Trust No One: The Hunt for the Crypto King,’ follows the aftermath of Gerald Cotten’s death in December 2018. He died as CEO of QuadrigaCX with access to millions of dollars in cryptocurrency held by customers, which was discovered. This sparked outrage and prompted a full investigation into Gerry’s business dealings and those of his former colleagues.
It wasn’t long before Quadriga co-founder Michael Patryn became a point of contention. In the meantime, if you want to know where Michael is, here’s what we know.
Meet QuadrigaCX Co-Founder Michael Patryn!
He met Gerald “Gerry” Patryn, the CEO and co-founder of the company where scammers and schemers congregate to discuss “the most effective ways to take advantage of others,” Michael Patryn, the company co-founder, on the TalkGold forum. They began collaborating closely after the secret service dismantled the illegal online US dollar derivative Liberty Reserve.
Quadriga Fintech Solutions, aka QuadrigaCX, Canada’s largest Bitcoin exchange, was born as a result of their joint relocation to Vancouver. Omar Patryn had changed his name to Patryn around this time. Gerard was in charge of running the crypto-exchange company, which he founded in 2013, and he oversaw all financial transactions.
All of his clients’ accounts were accessible to him. However, two of them were extinct by the end of 2015 and 2016. Michael eventually left the company leaving Gerry the only one in charge of the company.
He deflected to Phuket, Thailand from Canada sometime in 2016. By 2018, he was living a “semi-retired” life.
Subsequently, he pulled off the fraud that amounted to $200 million with his Ponzi scheme.
Gerry allegedly faked his death after his marriage. He reportedly died in India during his 12 day trip for his honeymoon because of Crohn’s disease. Less than a month before his death, he had signed a will and transferred whatever he owned to his wife.
People believed that all the missing fund was in cold storage — with Gerry’s effectively taking the corresponding private keys to the grave. However, blockchain analysts and auditors were unable to locate the crypto on-chain with multiple discovered exchange wallets now empty.
Does Michael Patryn Appear On Netflix’s Trust No One: The Hunt for the Crypto King?
No, Michael Patry doesn’t appear on Netflix’s Trust No One: The Hunt for the Crypto King.
Where Is Michael Patryn Today?
Just months after Gerry’s death, crypto insiders noticed Michael Patryn trading with significant size on BitMEX under the pseudonym MikeXBT. He was also active on Reddit under the same pseudonym. He bragged about trading with up to $18 million without any obstructions.
At the time, Michael was living in Monaco resident for tax purposes. Michael started serving as the CFO of Wonderland. In January 2022, Wonderland’s CFO went by the moniker OxSifu on Twitter and was exposed as Michael Patryn, a convicted criminal and co-founder of defunct Canadian crypto exchange QuadrigaCX. He served as a treasury manager of decentralised finance.
Daniele Sestagalli, the high-profile developer who co-founded Defi protocol Wonderland with Patryn, later shared that Michael was stepping down as the CFO via a statement. In the statement, he added, “Today allegations about our team member @0xSifu will circulate. I want everyone to know that I was aware of this and decided that the past of an individual doesn’t determine their future. I choose to value the time we spent together without knowing his past more than anything.”
Daniele said in the statement that he had known about the Patryn scenario for approximately a month but did nothing because he believed “in giving second chances.”
Furthermore, Daniele added, “I have decided that he [OxSifu] needs to step down till a vote for his confirmation is in place. Wonderland has the say to who manages its treasury, not me or the rest of the Wonderland team.”
How Much Is Michael Patryn Net Worth?
Michael Patryn reportedly had a net worth above $450 million.
Michael had a long history of scams and fraud as early as 22. He had served time in the U.S. for his role in the online identity theft ring.
Moreover, Michael was found guilty of identity theft, credit card fraud, burglary, and grand theft in 2005. Real name Omar Dhanani, he was one of the six operators of shadowcrew.com, an online marketplace where stolen ID cards and credits cards were sold. The scheme resulted in a $4 million loss for the consumers.
Michael, after being deported to Canada, started a money washing site called “Midas Gold”.
Michael Patryn Wife
There is no information on the wife of Michael Patryn.
Michael Patryn Age
Reportedly born in November 1983, as of April 2022, Michael Patryn is 38 years old.
Is Michael On Instagram?
No, Michael Patryn doesn’t have an Instagram account. He was on Twitter (@oxsifu).
Where Is Michael Patryn From?
Michael is a California native. He also spoke about the commute between Monte Carlo, Nice, Cannes, and Genoa.
Has Michael Patryn Revealed His Family Members?
His father Nazmin Dhanani and mother Nabatbibi Dhanani, used US$250,000 of equity in their Orange County, Calif., home to post his bail after getting arrested in October 2004. After getting deported to Canada, a Vancouver-based company called MPD Advertising Inc. was incorporated, listing two directors: Michael and Nazmin.
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