Last Wednesday saw Youtuber Paul “Ice Poseidon” Denino being disgraced by internet detective Coffeezillaa who posted a recorded interview of them. During this session, Denino allegedly stated that he had made off with around $750 thousand worth of the investors’ money through rug pulling a crypto project referred to as Cxcoin.
The ordeal began the previous July when Denino went on to create the Cxcoin for content creators and streamers on the Binance Smart Chain. Denino then also promoted the coin to his community of followers, stating that they don’t need to worry as all the money has been locked in a smart contract.
Ice Poseidon Has Purchased A Tesla With Investors’ Money
However, Ice Poseidon has already abandoned this project, stating that the motive has been pretty simple. Basically, the coin was quite inactive for a long time- with the crashing of the crypto market, and obviously, he would not going to let $300 thousand in the liquidity pool go to waste. Therefore, in his misguided justification, he had lifted up whatever wasn’t deemed necessary.
Along with the $300 thousand taken from the liquidity pool, another $200 thousand from the presale of the Cxcoin token, and around $250 thousand from a marketing wallet have been reported missing. This brings the total yield to $750 thousand worth of investors’ funds. Ice Poseidon has allegedly returned just a small portion of the misappropriated funds to the smart contracts after public outrage. However, the majority of the capital has not yet been returned.
As to where the funds have been displaced, Ice Poseidon allegedly purchased a Tesla only a few days after the entire capital went missing. With the comments feature on his Twitter account currently suspended, many users went on other platforms to voice their criticism.