A popular YouTube streamer identified as Paul ‘Ice Poseidon’ Denino has stated that he won’t compensate investors in his cryptocurrency that was reportedly a scam.
Coffeezilla, a YouTuber who investigates online scams, on February 2, 2022, published a full-length call where Poseidon admitted he wouldn’t be paying the money back because he was “looking out for himself” in the $500,000 CxCoin crypto fraud.
“Part of the responsibility is on them as well for putting too much emotion into it. I could give the money back, it is within my power. But I’m going to look out for myself and not do that. I don’t know what else to say,” Denino said.
The scam was initially uncovered by Coffeezilla after various complaints on Poseidon from individuals who invested in the coin. The coin was allegedly designed as a tipping mechanism for content creators with Poseidon using the lure of a long term project to attract investors.
Through his streams, Poseidon encouraged fans to invest in the coin before withdrawing all the capital when it hit half a million. He reportedly utilized part of the money to purchase a Tesla car.
Poseidon admits withdrawing from liquidity pool
In a separate statement, the former Twitch streamer acknowledged that he withdrew about $300,000 from the coin’s liquidity pool because there were few “real” holders or a significant amount invested.
He maintained that while promoting the coin, he focused on individuals who have prior…
