Key Takeaways:
- Quadrigacx was collapsed after the founder Gerald Cotten disappeared. It was the biggest exchange in Canada at the time.
- Canadians back then figured out pretty much “Sifu” (Omer/Patryn) had more ownership of the hacked exchange than the “dead” founder.
- Voting was conducted by the community and most of the people said to remove Patryn from the Wonderland project.
- After all these today, we came to know that the proposal to unwind Wonderland has failed. Sifu is officially out and has started sending ETH to Tornado.
Quadrigacx is the Canadian exchange that collapsed in 2019. It was collapsed after the founder, Gerald Cotten, disappeared. He supposedly died with his body cremated before anyone could verify his death. It was the biggest exchange in Canada at the time. People back then were coming after Michael Patryn because of his past as a scammer. He is a convicted felon from the US who moved to Canada and changed his name. His name before was Omar Dahani.
Canadians back then figured out pretty much “Sifu” (Omer/Patryn) had more ownership of the hacked exchange than the “dead” founder. They ran a Ponzi with the exchange after most people lost their funds and couldn’t withdraw their funds. The founder strangely disappeared and supposedly died. He died, taking all the blame with his death. Omar and his wife ended up with most of the assets while most users lost all their money.
Omar(Sifu) and Cotten ran a Ponzi knowing the exchange was illiquid and didn’t stop until most investors couldn’t withdraw. Then suddenly, Omar(Sifu) got mysteriously died in India. His body was cremated so that no one could verify anything. He died, blaming Cotten even though Omar owned more of the exchange and was the leader. People say Cotten controlled all the private keys, and he kept the majority of funds in his private wallet.
Omar/Sifu has an extensive criminal record. He had plastic surgery, changed his names many times, and was caught on multiple Ponzi schemes. Omar/Sifu/Patryn has a long and extensive history with Ponzis, fraud and scams. Most of the Quadrigacx users lost their life savings pretty much. The users finally came to the same conclusion that Omar is the main puppeteer behind the whole thing. Omar came off with millions of assets in houses and cars after taking all the funds from Quadrigacx users. The law enforcement couldn’t take it because it was classified as “profit” from the exchange.
A few months back, we reported that Wonderland offers an 83,412% APY on Staking. Wonderland is the Avalanche Network’s first decentralized reserve money protocol based on the TIME token. The Annual Percentage Yield (APY) is the rate of return on an investment after considering the principal and compounded interest. A high annual percentage yield (APY) suggests that users get more money back on their money.
Again on 27th January 2022, we learned that Avalanche-Based Wonderland was reportedly run by Michael Patryn. Michael Patryn is the surviving co-founder Omar(Sifu) of the now-defunct Canadian crypto alternate QuadrigaCX. However, Patryn denied the allegations that he and Dhanani are the same person.
Further, the community voted, and most people said to remove Patryn from the Wonderland project. Wonderland is the Avalanche Network’s first decentralized reserve money protocol based on the TIME token. After all these today, we realized that the proposal to unwind Wonderland has failed. Therefore, Sifu is officially out and has started sending ETH to Tornado. At the time of writing, he has moved over 2100 ETH to TornadoCash.
