Hanad Hassan: A crypto millionaire or scammer?

February 10, 2022 01:52 AM AEDT | By Manu Shankar

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Hanad Hassan: A crypto millionaire or scammer? — Image source: © NeoLeo3D | Megapixl

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Highlights

Hanad Hassan's name emerged in the google trends on Wednesday, following reports about his rags to riches story. But within hours, some of these reports were pulled down and claims of him scamming investors started surfacing.

Cryptocurrency investing is becoming a preferred form of investment vehicle in the United Kingdom, like most countries across the world. The young brigade of investors in Britain is opting crypto investments as compared to traditional forms of investment such as stocks, ETFs, and others.

In fact, last year, a research report published by the Interactive Investor indicated that approximately 45% of young investors, aged between 18 and 29, have forayed into cryptos. The report stated that this was twice the number of people who had first invested via funds.

At present thanks to this trend, young Britons are becoming crypto millionaires, who are ignoring its volatile nature, and also recent diktats of the government. Hanad Hassan is one such name who has made quick profits in the crypto market in just three months.

Also read: Will Russia start regulating cryptos as currency?

Who is Hanad Hassan?

Hanad Hassan, a 20-year-old, reportedly forayed into the world of cryptocurrencies with a mere US$50 (£37) in 2020. It is believed that his investments had reached US$1 million (£738,000) in just three months.

Hassan is reported to be a college dropout and decided to put his crypto gains to good use and decided to open charity group and spent close to £200,000 for various causes. He soon decided to open a food bank in Birmingham.

Scammer or one with open heart?

Hanad Hassan was one of the top trends on Wednesday, following reports about his rags to riches story. But within hours, some of these reports were pulled down and claims of him scamming investors started surfacing. Several investors alleged that they had lost their entire savings due to this scam.

The Hassan case is a classic example of why investors need to be on their toes and why they have to do their research before making important investment decisions.

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