YouTuber Ice Poseidon Appears To Admit To $500,000 Pump-And-Dump Crypto Scheme Conducted On Fans

Coffeezilla, a YouTuber with 900,000 subscribers dedicated to uncovering scams on the internet, has shared his latest investigation.

The YouTuber alleges that 27-year-old IRL streamer Paul Denino, who is known to his 742,000 subscribers as Ice Poseidon, conducted a pump-and-dump crypto scheme in a venture dubbed CxCoin.

Coffeezilla alleges that Denino promoted the coins to his fans as a long-term project that was supposed to become a donation platform for streamers. However, on Jan. 22, Coffeezilla said, Denino drained the venture’s liquidity pool, essentially killing the coin and making off with $500,000.

In an interview with Coffeezilla, in which it is unclear whether Denino knew he was being recorded, he appeared to confirm the allegations — saying he pocketed 55% of the profits, with his developers taking the remaining 45%.

“Part of the responsibility is on them as well for putting too much emotion into it,” Denino said of his fans. “I could give the money back – it is within my power. But I’m gonna look out for myself and not do that. I don’t know what else to say – that’s just the most honest answer.”

After their conversation, Denino — who was kicked off of Twitch in 2017 for enabling a toxic community — messaged Coffeezilla, saying he planned to return some of the money, though it is unclear whether he will do so.

This isn’t the first time that influencers have been engaged in morally dubious conduct in the crypto space — as many believe that proper regulations aren’t in place to prevent such behavior. For instance, two FaZe Clan members were cut from the esports group in July for Save The Kids, an altcoin venture whereby stakeholders similarly built hype prior to the coin sale, and then promptly sold their coins after launch.

You can check out Coffeezilla’s latest investigation in full below: