Cookies help us deliver our Services. By using our Services, you agree to our use of cookies. Learn More.

Ice Poseidon Doubles Down After Scam Accusations

It doesn't matter if it's a case of fake "Pokémon" cards from eBay or the astonishing amount of money scalpers have made off PlayStation 5 and Xbox Series X|S, people don't want to get taken advantage of — even when doing something as questionable as investing in new cryptocurrencies. Sure, cryptocurrencies like Bitcoin have raked in impressive profits for certain individuals, but buyers are just as likely to finance an elaborate scheme as they are to find the next big hit in the highly-volatile industry.

The latter appears to have proven the case for backers of Paul "Ice Poseidon" Denino's CXCoin. Launched in 2021 with lofty, long-term promises underscored by a YouTube video of Ice Poseidon claiming the expertise to grow the community, it wasn't long before the content creator ceased work on the project and early adopters found their investments suddenly worthless. With hundreds of thousands of dollars missing, the internet went into an uproar. However, the streamer didn't have any plans to return the money to those he had purportedly duped.

Now it seems Ice Poseidon is doubling down on his previous sentiments, event insulting the very people that helped fund the crypto scheme. Here's what Ice Poseidon had to say about the alleged CxCoin scam.

Ice Poseidon mocks investors for gambling with their money

Ice Poseidon broke his silence on the CxCoin allegations for the first time in over two months while speaking with Dexerto. Still denying any wrongdoing, Ice Poseidon commented on those who invested in the CxCoin and felt entitled to getting their investments back. "You're a streamer. You're not their dad," said Ice Poseidon. "If somebody wants to gamble their life savings away like an idiot, then they're gonna learn the hard way. They have to take some responsibility eventually. It's a dog-eat-dog world out there." 

While it's easy to look back at the CxCoin project from Ice Poseidon's view and liken it to gambling, keep in mind that Ice Poseidon actively promoted and advocated for people to invest in the cryptocurrency — one that may never have had aims beyond its initial injection of capital. Though Ice Poseidon appears to be attempting to shift the controversy's blame to backers, the streamer has altered course on whether or not the money will be paid back. He agreed to return $150,000 of the approximate $500,000, though reportedly only $40,000 has been paid out so far.