BBC cancels crypto millionaire documentary

The BBC has decided to not air a documentary about a “self-made” crypto millionaire after the conclusions of the production were questioned by The Guardian newspaper.

The broadcast was supposed to air on BBC One on Wednesday. The decision to cancel The Crypto-Millionaire came shortly before its intended broadcast.

It was supposed to focus on the story of a 20-year-old entrepreneur from Birmingham. The success of Hanad Hassan was never broadcasted, as the media raised concerns over whether the story was true.

According to the documentary, Hassan turned $50 at the beginning of 2021 into an $8m investment by the end of that year, posting a 16,000,000% gain in only nine months.

The Guardian questioned the BBC in their vetting of Hassan whose cryptocurrency, Orfano, was shut down in October and left many investors empty-handed.

The Guardian said the BBC had not responded to requests for comment, but apparently agreed to cancel the show hours before the broadcast making for an “embarrassing situation” for the corporation, the newspaper said.

The Guardian has attributed this and other similar situations to deep budget cuts that have impacted the public broadcaster’s quality of work.

However, the newspaper said the BBC often covered stories about cryptocurrency millionaires who seldom stood further scrutiny.

The BBC ran headlines about the Squid Game cryptocurrency that was based on the eponymous Netflix show. The cryptocurrency went under shortly after it was promoted, and was equated to a “rug pull”. Effectively, the creators disappeared with all investment.

In 2020, the broadcaster had to remove a video about a 20-year-old youth from Wales who was making close to $11,000 trading crypto from his home. The video was removed as it didn’t clearly show the risks associated with crypto trading.

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Updated: 02/11/2022 — 12:00