05/01/2023 Twitch Streamer and NFT Founder DNP3 Admits to Gambling Away Investor Funds

His projects, including The Goobers NFT and charity-focused cryptocurrency CluCoin, were down following the announcement.

CDCROP: Poker Chips Falling (Getty Images)

Twitch streamerDNP3, who founded several crypto projects, including TheGoobers NFT, metaverse platformGridcraft Networkand charity-focused cryptocurrencyCluCoin, admitted to gambling away investor funds on Tuesday.

In a statement posted to Twitter, the founder said he had become "incredibly addicted to gambling."

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"Every dollar I could find I would put into [crypto casino]Stakein hopes of winning big," he wrote. "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 broke both financially and spiritually. My sense of trust in myself is compromised," he added, saying that he was working with a help group to begin a "path to recovery."

It's unclear how much money has been lost. The price of CluCoinplummeted by 63%following the announcement, while The Goobers project saw itsmarket cap dip by 9%. According toOpenSea, The Goobers has done 968 ETH in total sales volume, or roughly $1.1 million.

The news recalled other crypto projects,including NFT launchpad Onepad, that were forced to shutter after its founder gambled away funds.

Arts

https://www.coindesk.com/web3/2023/01/03/twitch-streamer-and-nft-founder-dnp3-admits-to-gambling-away-investor-funds/

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