$500K Crypto Scam: Streamer Ice Poseidon Steals From Fans

Paul “Ice Poseidon” Denino is a YouTube streamer who stole half a million dollars from his fans in a crypto scam. As if that wasn’t bad enough, he doesn’t regret it at all and blames his followers.

Ice Poseidon has had a really bad reputation for a while now. In 2017, Twitch banned him, after which he went to YouTube to stream there. There, his videos were only moderately successful. Ice Poseidon’s crypto scandal was uncovered by Youtuber Coffeezilla, who dealt with a very similar scam not too long ago, namely when FaZe Clan ripped off their viewers with the Save the Kids token.

Ice Poseidon’s troubling past

Ice Poseidon was a relatively big name on Twitch over 10 years ago, but he behaved so badly there that he was kicked off. He broke the camel’s back in 2017 with a “bomb threat prank.” In it, he staged a “prank” on a plane to alert police about a bomb threat on an American Airlines flight to Phoenix. Which, of course, is “very funny” and “not punishable at all.” Twitch does not tolerate such violent crimes and banned Ice Poseidon from their platform forever. After that he went to Mixer and later to Youtube.

The Scam

As it seems, Ice Poseidon thought he could do the same as Jarvis and Kay from FaZe Clan and pulled his viewers into a Crypto Scam. Basically, he worked much like he did with the Save the Kids token. A currency is hyped to no end and presto we have a pump and dump scheme where viewers invest massively in the particular coin and then later lose their money.

Ice Poseidon got some of his 741,000 followers to invest in CxCoin, a platform the streamer created for influencers to receive cryptocurrency donations, and then pulled the rug out from under everyone. He took the money, half a million dollars in total, and took over half of it ($300,000 in). With the rest, he bought himself a Tesla.

Blames his fans

When Coffezilla confronted the Youtuber, he didn’t show a bit of remorse. Instead, he admitted that he ripped off every single one of his fans who invested in his CxCoin. Ice Poseidon also said that he would not give the money back. He was “taking care” of himself and blamed everyone else for “putting too much emotion into it.”

Ice said that everyone is responsible for themselves and tried to get out of it by saying, “Sometimes you have to take care of yourself.” In the interview with Coffeezilla, he first said that he could not return the money, then later he agreed to return $155,000, but in the end it came out that he returned only $47,000.

Influencers and Scams

Such outrageous influencer scams are piling up and you have to keep reminding yourself that you should not blindly trust these people. Influencers are strangers, even though you may see them so often that they seem like friends. But they aren’t. Influencers are influencers because of money, power and fame (at least in most cases).

They are sales people who can sell themselves as much as a product. And products can be scams. Whether it’s Kylie Jenner’s lip kit, which was delivered to buyers only half-full in some cases, or shady blue-light filter products from Valkyrae and Addison Rae that have been scientifically proven to do nothing – the money is taken out of your pocket. And it’s even worse with coins, especially if the fans and buyers are still very young and don’t know anything about them, as was the case with the Save the Kids token from the FaZe clan.

Because unlike a product with a fixed price, in Coins you can invest infinitely and you have the hope of becoming “richer” and having a greater benefit from the investment. In short, don’t rely on influencers when it comes to cryptos (or high value stuff in general). Too many people have already lost money because of it. And if you’ve ever followed Ice Poseidon, you can unfollow him now at the latest with a clear conscience, because you really don’t need to support a scammer with a fancy new Tesla and a full bank account.