Ice Poseidon, also known as Paul Denino, a YouTube streamer and internet personality, has admitted to scamming fans out of US$500,000 in a crypto pump-and-dump scheme. When confronted by YouTuber Coffeezilla, he showed little remorse:
Fellow YouTuber Takes Denino to Task
The scheme involved Denino raising the value of new crypto, CXcoin, by getting his many fans to invest. After promising sceptics and doubters that the scheme was a long-term project, he sold all his currency, causing the remainder held by his fans and investors to plummet – classic pump and dump. In July last year, YouTuber Logan Paul was slammed after after Dink Doink, a coin he had been promoting, crashed 95 percent in just two weeks.
In a recent video by Coffeezilla, the YouTuber shared his findings on Ice Poseidon’s CXcoin:
According to Coffeezilla, Denino personally made off with over US$300,000 while using the remaining US$200,000 to pay developers.
During the call between Coffeezilla and Denino, the latter seemed rather remorseless, stating that “part of the responsibility is on them [the fans] as well, for putting too much emotion into it”. Denino added: “Sometimes you have to look out for yourself.”
When asked if he could return the money if he wanted to, Denino replied: “If you want the answer, yeah, I could give the money back, it is within my power, but I am going to look out for myself and not do that.”
In a later Tweet, Coffeezilla said Denino claimed he would be returning US$155,000 after realising the story would be published. However, he has apparently returned only US$40,000 thus far.
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