A YouTuber stole $500k from fans in a crypto scheme. Then he bought a Tesla

This could become a new 'cash cow.'
Derya Ozdemir

With cryptocurrency scam on the rise, an influencer has been accused of stealing a whopping $500,000 from his fans by encouraging them to invest in his now-defunct crypto project CXCOIN, a cryptocurrency that he apparently established solely for his pump and dump scheme. After assuring his supporters that this would be a long-term investment, the popular streamer Ice Poseidon (real name Paul Denino) pulled the rug, causing the cryptocurrency to plummet to practically nothing.

The scam was exposed in a recent video by a YouTuber called Coffeezilla. Coffeezilla explained that Denino personally stole more than $300,000, while he used the remaining $200,000 to pay the developers. Then, according to reports, he used part of the leftover funds to buy himself a brand-new Tesla.

When Coffeezilla confronted him with these allegations, he admitted to the cryptocurrency scam, and in a call between the two, Denino appears remorseless, saying "Part of the responsibility is on them [the fans] as well, for putting too much emotion into it." To get a more in-depth look into the situation, you can check out the video attached above.

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