A well-known YouTuber cheats his followers $500,000 and buys a Tesla

Cryptocurrency scams are on the rise. While many of these activities are carried out by anonymous cybercriminals, a YouTuber tricked his followers and used the stolen money to buy a new Tesla.

Ice Poseidon was a Twitch star a few years ago, rising to fame in 2015 when he streamed Jagex’s MMORPG Old School Runescape.

His stay on the platform was complicated. Ice Poseidon was suspended several times until April 2017, when he was permanently banned from Twitch for being trapped in a plane for a bomb scare on an American Airlines flight he orchestrated with his supporters.

Since then, Ice Poseidon has moved to YouTube where he continues to get into mischief. His latest “conquest” were stealing $500,000 from his fans by convincing them to invest in CxCoin, a cryptocurrency he created exclusively for his fraud scheme.

When another YouTuber accused him deceive your followers, admitted to the cryptocurrency scam but tried to put the blame on his fans, accusing them of “getting too excited”, and he insisted he would keep the money although technically it could give everything back to the victims.

The young man earned $500,000 from this scam, but spent $200,000 paying the developers who helped him orchestrate the scheme. Apparently, used some of the remaining $300,000 to give himself a brand new Tesla and, ironically, even Live broadcast on YouTube the car collection last summer.

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