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Crypto Scam: YouTuber Ice Poseidon Reportedly Steals $500,000 From Fans By Convincing Them to Invest in CxCoin

Paul Denino who is finest is named “Ice Poseidon” on Twitch and YouTube has been eager on an alleged crypto scam. Per the latest reports, the streamer reportedly netted $500,000 from his fans who invested in CxCoin, which he created to location up this method.

Ice Poseidon On the support of Crypto Scam

Per a recent describe by Kotaku, Ice Poseidon became as soon as caught red-handed on YouTube after fellow YouTuber Coffeezilla uncovered the crypto operation that he pulled off.

Allegedly, he orchestrated a pump and dump method to take dwelling a hefty quantity of cash from them. Amid the upward thrust of fraudulent actions within the blockchain dwelling, this became as soon as the latest event that took express on YouTube up to now.

Denino became as soon as first streaming on Twitch sooner than he went to YouTube to avoid wasting his have channel. He began on Twitch but later confronted a permanent ban on April 28, 2017. The incident enthusiastic him and the many individual.

For the time being, he grew to change into the first streamer to be “swatted” on an airplane. From California, he landed in Arizona through a plane. Upon reaching the plug location, a viewer announced that there became as soon as a bomb threat below Ice Poseidon’s guise.

What Genuinely Took express to Denimo’s Crypto Scam

(Photo : Ice Poseidon through YouTube screenshot)

Ice Poseidon

In one more article written by Notebook Take a look at, the streamer delighted his viewers to put their money in his have cryptocurrency, which he called CxCoin. He instructed his fans that their investment could most certainly well be swish for lengthy-term plans.

When he received the investment money from his fans, Denino performed a rug pull for the acknowledged crypto. A rug pull is de facto an event whereby the coin creator withdraws all of the investments in an myth.

Briefly, this is in a position to signify abandoning the cryptos in his accord and leaving fans with nothing to develop. Customarily, scammers pull this trick to develop excessive profit with out exerting crude effort.

Related Article: World YouTube Crypto Livestream Scam Involves 1,000 Malicious Domains | Other Issues Google Discovers 

Where Did the Money Scramble?

The describe added that upon pocketing $500,000 from the scam, Denino reportedly gave $200,000 to the developers who connived with his tactic. 

The final $300,000 became as soon as allegedly spent on a peculiar Tesla automobile. As evidence, he posted a live circulate on YouTube which confirmed that he picked the automobile in summer.

Amid complaints about this scam, one more YouTuber named Coffeezilla shed some gentle on his viewers. The protest material creator posted a 23-minute clip that summarized how Ice Poseidon deceived his fans into investing in a dump-and-method coin.

Other Incidents of Crypto Scams 

In April 2021, Tech Conditions stumbled on out that a 17-year-pale TikToker became as soon as eager on a Mando crypto scam. The digital coin borrows inspiration from “Star Wars,” therefore Mandalorian-themed currency.

After promoting this cryptocurrency on his platform, the influencer stumbled on out that it became as soon as only a pump-and-dump method. He acknowledged that he had no belief about it. He later apologized to all people for fooling them, including himself.

In one more account from the identical source, “Moon Nation” founder Ben Todar issued a warning to all traders who could most certainly well come all over a unfaithful myth impersonating him. On Twitter, he voiced his enlighten a pair of suspicious user who became as soon as the usage of his identification.

He warned the opposite folks to by no system give their money or seed phrase to the cybercriminal within the support of the unreal myth.

Be taught Also: Cryptocurrency Scams: How one can Space and Steer sure of | Top 3 Schemes 

This article is owned by Tech Conditions

Written by Joseph Henry 

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