Popular live streamer Paul Denino was able to afford a new Tesla after a $500,000 crypto scam (Image: Ice Poseidon) A streamer known from Twitch and YouTube stole half a million dollars from a crypto scam by creating its own cryptocurrency and then conducting a simple "pump and dump" scheme. And instead of returning the money, he preferred to use it to buy an expensive new Tesla.
Crypto scams are undoubtedly on the rise. Just back in December, we reported an insane stat stating that crypto scammers caused at least $7.7 billion in damage in 2021 alone. Most of these dubious activities related to digital currencies (hardware wallet from 59 euros at Amazon) are probably committed by anonymous perpetrators on the Internet, but a well-known YouTuber has now joined them and made a new Tesla from his crypto booty .
According to a report by Kotaku, popular streamer Ice Poseidon managed to scoop half a million US dollars from his fans by convincing them to invest in his specially created cryptocurrency CxCoin. The streamer, whose real name is Paul Denino, insisted it was a long-term investment. However, after just two weeks, he sold all his shares in the new digital currency. This so-called rug pull ultimately led to the value of the CxCoin crypto falling to practically zero within a very short time.
He allegedly used part of the stolen half a million dollars to pay the developers who helped him with this crypto scam. Among other things, he is said to have treated himself to a brand new Tesla from the remaining $300,000, the reception of which he ironically even recorded in a live stream on YouTube. After another YouTuber exposed his crypto scam and confronted him with the allegations, Ice Poseidon apparently admitted everything. Despite this, he tried to blame his overly emotional fans and also revealed that he would keep most of the money for himself, although technically he could pay it back to the victims of the crypto scam.
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