Tech

A YouTuber steals 440,000 euros worth of cryptocurrency from his subscribers and buys a Tesla!

A popular YouTuber, present on the Internet since the 2010s, has just scammed his community of fans. The videographer set up a cryptocurrency scam. Thanks to this scam, he recovered 500,000 dollars, or approximately 440,000 euros. With his loot, he bought himself a new Tesla car.

youtuber cryptocurrency scam buys tesla

According to a survey by Coffeezilla, a self-described videographer “internet sleuth exposing scams”YouTuber Ice Poseidon launched a massive cryptocurrency scam called CxCoin. Ice Poseidon, whose real name is Paul Denino, is said to have set up a fake digital currency project to steal money from its subscribers.

On the project website, one can read: “Cxcoin is building a platform for streamers and content creators to get a safe and easy way to get cryptocurrency support with an auto-redemption system”. The site, similar to that of many other shitcoins, promises “total transparency” and highlights a tool for making donations. Cxcoin encourages netizens to deposit Bitcoin or Dogecoin.

The YouTuber admits to defrauding his subscribers

Through several videos and a group on Telegram, Paul Denino encouraged his followers to invest in cryptocurrency. Once his followers deposited around $500,000, the videographer simply collected the money. Concretely, Denino, who has in the past been banned from Twitch, has sold all of its tokens. The Cxcoin currency price crashed almost instantly. She is no longer worth anything.

Contacted by Coffeezilla, Paul Denino made no secret of stealing his fans’ money. “Famous streamer Ice Poseidon admitted to taking more than $500,000 from his fans”, says Coffeezilla. Questioned by him, the scammer defends himself and claims to have no remorse after his scam. “Part of the responsibility also lies with them [aux fans], for putting too much emotion into it. Sometimes you have to watch over yourself. Yes, I could return the money, but I’ll watch over myself and not do it”explains Paul Denino .

Related: $770 Million in Cryptocurrencies Lost to Social Media Scams

With the money stolen from his fans, Ice Poseidon would have bought a Tesla brand electric car. A video posted on YouTube also shows the videographer going to the dealership to pick up the vehicle. Back to the wall after Coffeezilla’s investigation, the YouTuber ended up promising to return some of his loot. So far, the man has only donated $40,000.

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