Controversial streamer Paul ‘Ice Poseidon’ Denino has issued another response to recent CXCoin cryptocurrency drama, denying accusations that he directly “stole or scammed” from upwards of $300,000 from his fans.
Crypto-fuelled drama hasn’t slowed down one bit in the new year. After a year where many of the internet’s biggest stars were linked to various scandals, some of which ended up tarnishing careers, the trend has continued in 2022.
The latest controversy saw divisive content creator Ice Poseidon confronted by popular YouTube investigator Coffezilla. Ice Poseidon was exposed for promoting a “long-term” project known as CXCoin. Before long, he openly admitted to “taking $500,000+ from his fans” through the crypto project.
“Yeah I could give the money back,” he said in a February 1 response. “But I’m going to look after myself and not do that.”
In light of the backlash that followed, he has since released another statement denying any such claims that fans were “scammed.”
🚨BREAKING! The famous livestreamer Ice Poseidon has admitted to taking $500,000+ from his fans in a crypto scam he started called CXCOIN. I confronted Ice on a call and he told me he was going to “look out for himself and not do that” (return the money) FULL VIDEO OUT NOW pic.twitter.com/gsIanC1Ig9
— Coffeezilla (@coffeebreak_YT) January 31, 2022
Before diving into the exact figures, Ice Poseidon first looked to address his role in marketing CXCoin. “I did not advertise CXCoin to my casual fans,” he explained.
The streamer argued he “only advertised it to people in the ‘cryptosphere,’” not outsiders that would be “extremely vulnerable to a highly volatile market.”
After temporarily pushing the product, Ice Poseidon then took out “a portion” of his investment, nearly $300,000. At the time, he claimed this was simply the right thing to do.
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“There [weren’t] many ‘real’ holders or much money invested in the token by that point,” he said. As a result, he believes “it was completely unnecessary” to sit on that amount of the cryptocurrency.
“The money was at risk of getting devalued.”
the post has a lot of terminology and might be hard to grasp if you’re a noob to crypto, but everything is verifiable and I encourage people to go check for themselves. I did not “steal” or “scam” anyone. nor did i make money on the expense of others.
— Ice_Poseidon (@REALIcePoseidon) February 2, 2022
Despite admitting he pulled money out and later refused to give any back, Ice Poseidon remained adamant no fans were ripped off.
“No money was ‘stolen’ or ‘scammed.’ That is very misleading as people have always been able to sell and there’s still enough money to back those sales up.”
“I did make $300,000,” he reiterated, “but it was not at the expense of any fans or holders.”
He also claimed he refunded around $10,000 of cryptocurrency to those “who ended up buying fake CXCoins”.
“I know it’s not relevant, but I just want to show that my actions on CXCoin were not malicious. At all times, I will guarantee every CXCoin holder to be able to sell their tokens if they wish to.”
