A Twitch streamer and NFT developer DNP3 stole millions of dollars from their users to gamble.

A Twitch streamer and NFT developer DNP3 stole millions of dollars from their users to gamble.

Home > A Twitch streamer and NFT developer DNP3 stole millions of dollars from their users to gamble.

A Twitch streamer and NFT developer stole millions of dollars from their users to gamble.

It’s possible that a Twitch streamer cost a lot of people a lot of money. DNP3, whose real name is unknown, used money from investors in the non-fungible token (NFT) projects he started to gamble, leaving both the investors and himself broke.

DNP3 told the truth in a tweet that started with the catchy phrase “I’m sorry.” He then gave a long explanation of what he had done. He admitted that he had broken his backers’ trust and stolen their money to fund his gambling habit, which was against the law.

The streamer used his popularity on Twitch to get support for three projects he started. These were the Gridcraft Network Metaverse platform, the Goobers NFT series, and CluCoin, a cryptocurrency designed to help charities (CLU). But he didn’t hold back as he took the money and used it for himself.

Crypto has more bad news.

The FTX trading platform broke down, one of the largest bitcoin failures. Sam Bankman-Fried, who founded the exchange, will be tried later this year for its collapse, which cost $32 billion. He claimed innocence in a US court after the Bahamas extradited him.

DNP3 failed less than Bankman-Fried, who advised the White House on COVID-19 policy. Fraud and dishonesty still erode trust in the crypto community.

“I placed every cash I could find into the crypto casino Stake in hopes of winning a lot of money,” DNP3 tweeted. “Big victories weren’t enough. Lost everything. I used my savings and investment funds irresponsibly to “get my money back” from the casino, which was bad for many reasons.

After declaring himself “totally broken, both monetarily and spiritually,” the streamer confesses. He said he works with gambling addiction counselors and that coming out in public may have helped him recover.

There’s no openness.

Now, there will have to be a probe to find out how much damage he did. After DNP3’s leak, the price of CLU dropped by 63% and was down 75% at the time of printing, while the price of Goobers fell by 9%.

There are just under 297 trillion CLU in circulation right now, which, after the price drop, are worth about $181,553 each. They would have been worth $881,810 last week.

The website for the NFT series says that it has 15K different NFTs. It is based on a made-up story about a chemical company whose products come to life and escape into the wild. The NFTs in the series range in value from 0.0169 Ether (ETH) to 5ETH, or from US$21.14 to $6,253 based on the current price of ETH.

NFTs are digital assets that represent collectible items like art, music, and more. Because they are stored on a blockchain, they are unchangeable, unique, and can’t be copied. No one can lie about who owns an asset, and there is a permanent, public record of everything that has happened with each asset.

OpenSea, an NFT trading platform that sells Goobers, shows that 968ETH worth of Goobers have been bought and sold. This is worth $1.21 million all by itself.

Because there isn’t enough openness, there is no way to know how much money DNP3 may have saved or gambled. It is not clear if Stake will have to take part in any possible legal battles.

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