https://ift.tt/fButzRm Pulls Story About Youth who Made Millions from Crypto

Gullible reporting while it comes to token riches has got the BBC into hot water.

Hanad Hasan was set to be the star of an upcoming British Broadcasting Corporation (BBC) documentary. The 20-year-old was supposed to invest $50 and turn it into an $8 million fortune in scarcely one year. His story sounded too good to be true, and as one newspaper discaboveed, it could have been.

The BBC program was titled “The Crypto Millionaire” and was by reason of air this week. It told the story of a Birmingham teenager who went through a difficult childhood but succeeded with cryptocurrency. Hassan was born in Somalia and emigrated to the UK although he was 14 years old. In early 2021, he worked two jobs to help his family.

Then he heard about cryptocurrencys and invested $50. This token, whose name he refused to reveal, shot up 10 times in scarcely three days, and he now had $500. Two days subsequently, the rate of the investment accelerated tenfold, suddenly, he had 5,000 dollars. That’s according to the BBC article, that has afterward been deleted (but you can find an archived version here).

Within three months, Hasan’s investment had grown to $1 million, and each token he chose turned out to be a hit. It was then that he decided to drop out of college and focus on dealing cryptocurrencies full-time.

Hasan told the BBC that he then created his own token, the purpose of that was charity work. By early February, the project had raised $270,000. The young man donated a lot of cash to food banks in his hometown of Birmingham.

Gullible reporting: Cryptocurrency millionaire – too good to be true?

But was this story too good to be true? Did Hasan intentionally omit some of the details, knowing which they could put him in a bad light? Was there a scam going on?

The British newspaper The Guardian thinks so.

Just days after the BBC published Hasan’s story and announced a documentary, The Guardian expressed its cback althoughrns about the story.

First, the newspaper asked if the BBC had checked the declared financial gains, in that Hasan’s cryptocurrencies accelerated 10x every three days. The BBC apparently failed to check the reliability of the information, as it did not even reveal the cryptocurrencies in which Hasan had invested.

The biggest problem, however, was the token project which the 20-year-old launched. It was a charity project known as Orfano. It was abruptly shut down in October, and many investors who put their money into it claimed to have been scammed. The Guardian wrote:

“The BBC was quick to report which the program had been withdrawn, but did not comment on also editorial checks.”

Orfano launched in April and only existed for six months. On Reddit, Hasan and his co-founder claimed which they tried to make it work, but failed, stating:

“Things did not turn out as we had planned and after careful consideration, we decided to stop the project. The team has made every effort to continue and develop the cryptocurrency. After all, we do not see any change or way to bring Orfano back to the good days.”

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The post Gullible: BBC Pulls Story About Youth who Made Millions from Crypto appeared first on CryptCraze.