Tech

YouTube star ‘steals’ $500,000 from fans in crypto and refuses to give it back

A YOUTUBE star allegedly defrauded fans from $500,000 in what was described as a ‘pump and sell’ crypto scheme.

Paul Denino, who is also known as “Ice Poseidon,” apparently received half a million dollars from fans in a crypto scam uncovered by YouTuber Coffeezilla, Gamer reported earlier this week.

American streamer Paul Denino is said to have scammed fans out of $500,000

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American streamer Paul Denino is said to have scammed fans out of $500,000Credit: Youtube / Ice Poseidon

The 27-year-old American Internet personality allegedly asked his YouTube fans to invest in a new cryptocurrency called ‘CXcoin’, which he claims will be a long-term project.

However, after the cryptocurrency rallied just two weeks later, Denino allegedly sold all of his holdings for a profit, causing the remaining CXcoins held by fans to decrease in value.

Denino is said to have walked away with $300,000 and a new Tesla, and has given $200,000 to the developers, according to Coffeezillaa Youtuber who specializes in investigating fraudsters.

The self-proclaimed “internet detective” shared a 23 minute long video discussed the plan, as well as some excerpts of the conversation he had with Denino.

When confronted about the scam on a call with Coffezilla, Denino said that “sometimes you have to figure it out for yourself” and that “part of the blame lies with [the fans] as well as for putting so much emotion into it. “

At one point in the interview, Coffeezilla said that Denino could return the money if he wanted to, to which Denino replied, “if you want the answer, yes, I can return the money, it’s within the realm of possibility. but I would look out for myself and not do that.

Coffeezilla shared on Twitter topic that after learning this story, Denino said he would return the $155,000, but that has yet to be confirmed.

“After realizing a story would be initiated: Ice told me he would ‘return $155K’, a fraction of what he took. Yet again he was. lied, because so far — only K$40 has been returned to the liquidity pool,” Coffeezilla tweeted.

This is not the first time Denino has faced controversy.

In 2017, the streamer was banned on the Amazon-owned Twitch platform for a hoax that bombed publicity on an airplane.

Since then, Denino has streamed regularly on YouTube.

The Sun has reached out to Denino for comment but has not received a response at the time this article was published.

Twitch banned Denino from the platform in 2017

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Twitch banned Denino from the platform in 2017Credit: Getty

In other news, Apple unveiled a bunch of new emojis for the iPhone, including a pregnant man and two saucy symbols.

Experts have warned that future space launches could be in jeopardy if “dumb” regimes like Russia don’t stop blowing up debris.

And the most popular phone since a millennium was announced, shocking many to learn it wasn’t an iPhone.

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https://www.thesun.co.uk/tech/17538100/youtube-star-steals-cryptocurrency/ YouTube star ‘steals’ $500,000 from fans in crypto and refuses to give it back

Caroline Bleakley

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