According to the search results, Cole falls into darkness while attempting to rescue citizens during the Oni invasion in Ninjago Dragons Rising, but he survives and comes back to fight alongside his friends. There were rumors that Cole would die in the beginning of the new series, but the sets of the season still have him, and the only evidence of his death is that the ninja have a painting of him. It is believed that Cole is still alive but is living somewhere else rather than helping the ninja at the beginning of the season. Therefore, Cole does not die in Ninjago Dragons Rising.