Ice Poseidon Scams Fans Out Of $500,000

Paul “Ice Poseidon” Denino has apparently scammed his fans out of $500,000 in a pump and dump crypto scheme.

Crypto scams are becoming more and more commonplace in recent years. Whether it’s NFTs or “pump and dump” schemes, anyone interested in crypto has to be extremely careful about what they’re doing.

Now, Ice Poseidon has become the latest to partake in crypto scams with his own crypto scam called “CXCOIN”. Ice Poseidon is a streamer and internet personality known for his IRL streams.

What Was The Scam?

Denino’s scam saw him raise the value of CXCOIN by encouraging fans to invest in it. He promised his fans that this was a long-term project to convince them of its value. However, he sold his own currency after his fans started investing, causing CXCOIN to plummet in value and his fans to lose out on their money.

A YouTuber named Coffeezilla exposed the scheme by Ice Poseidon, revealing that he likely made off with at least $300,000 after paying developers $200,000.

In a later call between Coffeezilla and Ice Poseidon revealed that the latter has no remorse for his actions. He referred to his fans, saying “Part of the responsibility is on them as well, for putting too much emotion into it.”

When asked by Coffeezilla if he was going to give the money back to his fans, he said “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.”

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Featured Image Credit: Ice Poseidon