Meet Michael Patryn, co-founder of QuadrigaCX, the company which became notorious for crypto fraud above 200 million dollars of investor’s funds.
‘Trust No One: The Hunt for the Crypto King,’ a Netflix documentary, follows the aftermath of Gerald Cotten’s death in December 2018. As CEO of QuadrigaCX, it found discovered that he died with access to millions of dollars in cryptocurrency held by consumers. This caused a big commotion and prompted a thorough inquiry of Gerry’s business operations as well as those of his former associates.
Michael Patryn, Quadriga’s co-founder, soon became a source of dispute. So, if you’re curious about Michael’s current whereabouts, here’s what we know.
Meet Michael Patryn, QuadrigaCX Co-Founder
Michael Patryn, co-founder of QuadrigaCX met the CEO/co-founder of the company Gerald “Gerry” Patryn on a forum called TalkGold — a place where scammers and schemers rendezvous to talk ship and chat about ‘the most effective ways to take advantage of others.” Under the backdrop of the secret service’s dismantlement of illegal online US dollar derivative Liberty Reserve, they started working closely with each other.
They moved together to Vancouver which ultimately led to the formation of Quadriga Fintech Solutions, aka Canada’s largest Bitcoin exchange, QuadrigaCX. Around this time, he had changed his name from Omar Patryn to Michael Patryn. Gerald was in charge of the operation of the crypto-exchange company and oversaw all the financial transactions in the company which they launched in 2013.
He had the access to all of the accounts of his clients. But around 2015 and 2016, two of them had fallen out. 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 decentralized 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 Patryn On Instagram?
No, Michael Patryn doesn’t have an Instagram account. He was on Twitter (@oxsifu).
Related FAQs
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Where Is Michael Patryn From?
Michael is a California native. He also spoke about the commute between Monte Carlo, Nice, Cannes, and Genoa.
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Has Michael Patryn Revealed His Family Members?
Michael Patryn’s 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.
