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HomeCrypto NewsMarketYouTube Streamer Ice Poseidon Rug Pulled Fans for $500,000 And Bought Himself A New Tesla

YouTube Streamer Ice Poseidon Rug Pulled Fans for $500,000 And Bought Himself A New Tesla


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YouTube Streamer Ice Poseidon Rug Pulled Fans for $500,000.

Popular YouTube creator Ice Poseidon is alleged to have pulled the rug on his fans, stealing $500,000 from people who invested in the project. 

Media outlet Kotaku reports that a YouTuber named Coffeezilla, who investigates crypto-related scams, disclosed in a 23-minute video on the video-sharing platform, narrating how Poseidon pulled the rug on his followers. 

Last year, Poseidon convinced his followers to invest in his cryptocurrency named CxCoin. He claimed the token would help content creators get crypto donations that would support their work. 

Excited by the offering, investors committed a total of $500,000 into the scheme, with the hope of getting huge returns. 

However, investors were left scratching their heads after Poseidon exploited a bug added to the crypto project and made away with the entire $500,000 invested in the scheme. 

Poseidon Not Remorseful 

While many would think Poseidon would feel bad about the unfortunate incident, he seemed happy about the development.  He blamed his fans who invested in the project. Poseidon added that he will not return the money to his fans, adding that people need to look out for themselves. 

“Part of the responsibility is on [the fans] as well for putting too much emotion into it. Nobody deserves [to get ripped off]. Sometimes you have to look out for yourself,” Poseidon said. 

Late last month, Poseidon told Coffeezilla that he would give back $155,000 of the total loot back to the victims, however, it was discovered that he only reimbursed $47,000. 

It was alleged that Poseidon used $300,000 of the ill-gotten cryptocurrency proceeds to buy himself a new Tesla car and further used a significant amount to pay the developers who designed the CxCoin platform. 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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