NFT Founder DNP3 Admits to Losing Investor Funds in Gambling
DNP3, Twitch streamer and founder of several crypto projects, has admitted to losing a significant amount of investors’ funds in gambling, sparking an uproar in the streaming community.
“Every dollar I could find I would put into [crypto casino] Stake in hopes of winning big(…). 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,” DNP3 said in a recent announcement.
Some of the better known crypto projects founded by DNP3 include The Goobers NFT, charity focused digital coin CluCoin, and the Gridcraft Network metaverse platform, media reports said.
The news broke on Thursday when a Twitch user discovered DNP3’s online gambling activities. According to the user’s post, DNP3 had been using investor funds to gamble on online sports betting websites.
The streamer confirmed the allegations in a statement posted on his Twitter account, which said that he had “made a mistake” and “lost a significant amount of money.” He went on to explain that he had “made a promise to his investors that he was unable to keep”, and apologized for his actions.
The news has caused much controversy in the streaming community, with many viewers expressing disappointment and shock at DNP3’s actions.
Many have also questioned how the streamer accessed investor funds in the first place. DNP3 has not commented on this issue, and it is unclear if any legal action will be taken against him.
DNP3 has been active on Twitch since 2018. He has more than 250,000 followers and is well-known in the streaming community.
The incident has raised questions about the security of investor funds within the streaming community and prompted many viewers to call for more stringent regulations on streamers and their activities.
