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Netflix premieres 'Bitconned': the film exposing how Ray Trapani made $25 million in the most brutal crypto scam of 2017
Attention: On January 1st, Netflix is releasing a documentary that everyone in crypto should watch. It’s not just entertainment; it’s a mirror of what can go wrong when ambition meets a lack of regulation.
What is ‘Bitconned’ about?
The film tells the story of Ray Trapani and his crew: the rise and fall of Centra Tech, the ICO that scammed investors out of a staggering $25 million during the 2017 bubble.
Trapani, along with Sohrab Sharma and Robert Farkas, launched a supposed crypto debit card. The scam involved blatant lies in documents and false promises. The result: criminal charges in ten different areas, from financial fraud to illegal weapons possession.
The sentences: severe
The director: Bryan Storkel (The Pez Outlaw, The Legend of Cocaine Island)
This guy specializes in exposing mafia tricks disguised as business. ‘Bitconned’ promises to be his most raw analysis yet of the exploding crypto world.
Current connection: SafeMoon and the bite-sized Task Force
While Netflix brings the past to the screen, the present also has drama: SafeMoon, another crypto project, collapsed into Chapter 7 (not Chapter 11). The U.S. Department of Justice arrested teams involved for fraud.
Why are there more bites now? Because in June 2023, the DNMDCC (Darknet Marketplace and Digital Coin Crimes Task Force) was created—a federal task force specifically dedicated to hunting crypto scams. Times are changing.
Bottom line: Crypto scams aren’t new, but enforcement is now systematic. Netflix arrives just as the U.S. has made it clear: there’s no refuge left for scammers.