Caution is advised when a YouTuber offers to invest in cryptocurrencies. Ice Poseidon scammed his community of $500,000, a booty that allowed him to buy a Tesla…
It sometimes happens that youtubers, for lack of sufficient information, offer their fans to invest in bogus cryptocurrencies. They have a share of responsibility, but without being the authors of the scam itself. Paul Denino, aka Ice Poseidon, went one step further: he created a “shitcoin”, CxCoin, and encouraged his YouTube subscribers to invest their savings in it. To better leave with the loot under the arm!
An expensive shitcoin
Ice Poseidon, who was banned from Twitch, is now rampant on YouTube. Last July, he launched CxCoin, dubbed a “platform” for streamers and content creators to receive financial support from their fans. In reality, he was the only one who was supported in this project! After the token was created, Denino coerced its approximately 740,000 subscribers into investing in the deal.
It was a bad idea. When the counter exceeded $500,000, the YouTuber sold all the CxCoin he owned, causing the crypto price to plunge. And he recovered the loot, with which he offered himself a Tesla. In one of his videos, we can even see him recovering his car bought at the expense of his subscribers…
The scam was uncovered by Coffeezilla, an investigative YouTuber who got Denino’s confession, but no regrets. On the contrary, the latter believes that it is up to the fans to be careful what they do with their money and not to invest under the influence of emotion. ” Yes, I could return the money “, he declares, but ” I will take care of myself first and not return the money “.
After this investigation, Paul Denino finally agreed to make amends, but he has only returned $40,000 so far.