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HomeLaw & PoliticsCryptocurrency Scam: Ice Poseidon reportedly steals USD 750 thousand from investors

Cryptocurrency Scam: Ice Poseidon reportedly steals USD 750 thousand from investors

Coffeezillaa, an American Youtuber and "internet investigator," revealed a taped chat with disgraced Youtuber Paul "Ice Poseidon" Denino on Wednesday. Denino allegedly confessed during the session that he stole USD 750 thousand from his investors by rug pulling a crypto project called "Cxcoin."

Last July, Denino launched the Cxcoin on the Binance Smart Chain for broadcasters and content providers. Denino then purportedly marketed the currency to his followers claiming that they need not to worry. There are no rugs, and all the money is locked in a smart contract. 

However, Denino abandoned the project barely two weeks later. He said the crypto market was sinking and there is no point in leaving USD 300,000 locked in the liquidity pool.

A total of USD 750 thousand in investor cash is gone, including USD 300 thousand from the liquidity pool, USD 200 thousand from the Cxcoin token presale, and USD 250 thousand from a marketing wallet. 

Denino stated that 55 percent of the money went to him, while 45 percent went to developers, leaving him with a share of around USD 300,000.

After a viewer called in a bomb-threat hoax as he boarded an airline in 2017, he was permanently banned from the network. Denino allegedly confessed to credit-card theft during one of his Twitch sessions.


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