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Twitch streamer DNP3, founder of a number of crypto projects, has admitted to misappropriating investor funds on Tuesday and gambling them away.
What Happened: These projects include The Goobers NFT, metaverse platform Gridcraft Network and charity-focused cryptocurrency CluCoin CLU/USD.
In a statement posted to Twitter, DNP3 admitted to struggling with gambling addiction. “Every dollar I could find I would put into Stake (crypto casinos) in hopes of winning big, but even when the big wins did happen it wasn’t enough. Eventually, I lost everything. In addition to my own life savings, I also irresponsibly used investor funds to try and ‘get my money back’ from the casino which was wrong for so many reasons.”
“I am now completely broken both financially and spiritually. My sense of trust in myself is compromised,” he added. To begin on the path to recovery, he is seeking help from a support group and hopes to be able to restore his life and finances.
See More: Best Crypto Day Trading Strategies
Crypto enthusiast Jess stated “Not another ‘I’m sorry'” – a sentiment echoed by many users as the FTX founder Sam Bankman-Fried embarked on a series of apologies, after FTX collapsed.
Another user lashed out in frustration saying “we really couldn’t make it one full week my god.”
As of now, the magnitude of the financial losses is uncertain. After the announcement, the value of CluCoin dropped 63%, and The Goobers NFTs lost 9% in market capitalization.
Data provided by OpenSea indicated that The Goobers had a total transaction volume of 968 Ethereum ETH/USD, which is equivalent to around $1.1 million.
Price Action: At the time of writing, ETH was trading at $1,250 up 2.80% in the past 24 hours, according to Benzinga Pro.
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Image and article originally from www.benzinga.com. Read the original article here.