The BBC has made a documentary about the 20-year-old cryptocurrency trader who allegedly turned $50 into an $8 million fortune last year.
The document was titled “Cryptocurrency Millionaire” and followed the story of Khanad Hassan of Birmingham, who claims to have made a profit of around 16,000,000% in a year from trading unspecified crypto assets.
The story was supposed to air this week and show how Hasan began to return money to the community after his newfound wealth, however the show was canceled after the Guardian reported on February 10 that it raised concerns over a BBC investigation:
The Guardian asked the BBC if they were confident in its claimed financial returns and asked why the program’s promotional materials did not mention that Hassan’s Orfano cryptocurrency was abruptly shut down in October, with many disgruntled investors claiming they were left without money as a result. “.
“The BBC was quick to say it had canceled the show but did not comment on its editorial checks,” wrote The Guardian media editor Jim Waterson.
A now-deleted promotional story for the documentary on the BBC website (which can still be found at web.archive.org) reported that Hassan had initially turned $50 into $1 million in the first quarter of 2021 and then became a co-founder. its own “special cryptocurrency” that donates all its profits to charity.
It is not clear how Hassan made the remaining $7 million of the $8 million claimed, as the BBC did not elaborate on the details of his “own fortune” and how he made the money between Q1 and Q4 2021.
According to Coinmarketcap, Hassan’s ORFANO token was issued on April 2, 2021 and was taxed at 6% on all transactions using this asset. Of the tax received from the token, 2% was allocated to the wallet address for charitable donations. There is no price history for the token, however the BBC reported that OFRANO donated $200,000 to charity from its profits last year.
Looking at the posts from the r/Orfano community on the social media platform Reddit, it appears that the project froze around September before shutting down in October, suggesting that ORFANO only lasted about five or six months. Many users on the subreddit have claimed that the project may have been illegal, although this is a fairly common claim by members of the community whenever projects fail.
Related: UK tax agency cracks down on DeFi lending and staking rules
In a message to the community posted on Reddit, Hassan and co-founder Ahmed wrote:
“Things did not go as we planned, and after careful consideration, we decided that [будем] stop project continuation. The team has made every effort to maintain and develop the token, but we do not see any progress and a way to return Orfano x to good times.”
