Have You Seen BITCONNED? Netflix Releases Crypto Scam Documentary

January 3, 2024 12:17 pm Comments

Social media is abuzz with commentary revolving around a new Netflix documentary called “Bitconned.”

The documentary details a broad crypto scam perpetrated by Centra Tech, Ray Trapani, and Trapani’s accomplices Sohrab Sharma, and Robert Farkas.

Centra Tech rose to popularity during the bull market of 2017 through an initial coin offering that was purportedly used to fund Centra’s crypto debit card that was linked to Visa—this is what they told their investors.

Of course, there was never any Visa crypto debit card or even really a company—the entire thing was fraudulent.

Eventually, the trio and their fake company were exposed due to an investigative reporter’s probe into the fraudulent enterprise. Take a look at the Netflix trailer for the new documentary:

According to Coin Edition:

Aside from fabricating an imaginary CEO for the company, the founders also made LinkedIn profiles with fake credentials. They also disseminated false claims of partnerships with major financial institutions such as Bancorp, Visa, and Mastercard, along with alleged licenses in 38 states.

Reactions to the documentary were overwhelmingly negative, with many pointing out their clear disdain for Trapani and the scams perpetrated by the fraudulent Centra Tech.

Yahoo News provided an update on Trapani:

For his role in Centra Tech, the FBI arrested him in 2018. However, since he cooperated with federal authorities, he received lenient treatment. According to The Cinemaholic, Ray Trapani currently splits his time between New York and Florida. Still in his early 30s, he has a son with his partner, Kimberly Costanzo.

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