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

This could become a new 'cash cow.'

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.

Follow Us on

GET YOUR DAILY NEWS DIRECTLY IN YOUR INBOX

Stay ahead with the latest science, technology and innovation news, for free:

By subscribing, you agree to our Terms of Use and Privacy Policy. You may unsubscribe at any time.