Streamer and Crypto Guru Gambles Away Investor Funds

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Quote from: PX-Z on January 11, 2023, 05:36:05 AM

Quote from: gamblingnews.com

DNP3 confessed to having gambled away all investors’ funds, the result of debilitating gambling addiction which forced him into desperation. DNP3 said that his addiction began unexpectedly, and it quickly took a hold of him.

DNP3 confessed to having spent all money he could find on a popular crypto gambling brand, chasing elusive big wins. “Even when the big wins did happen it wasn’t enough,” the streamer said. He admitted to having lost everything – including not only the investors’ funds but also his own savings.

I knew this guy because i followed him on twitter on his philanthropist activities on the platform also on twitch, that was a year ago, i guess. And was surprised after reading this news.
The act of using the investors funds without their consent is illegal in any way, worst if you gamble it all.

Well, when gambling addiction hits you, no matter how rich or poor you are, this will be a possible illness to every gambler. That's why gambling moderately.

I just read this news which has posted few days ago but never saw this topic on gambling related boards from 1-5 pages. Let me know if there's an existing discussion related to this so i can lock this instead.

Source: Gamblingnews.com

This issue is the main reason why Twitch started to ban gambling streams on their platform. I'm not sure if this is the exact case or just similar before but there was a gambling streamer before that asked funds for his viewer and gamble it lives stream. This kind of activity is illegal even with the full consent of the viewers. This is another form of scam because he is using influence to ask for money for his gambling needs.

Baofeng

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I agree, when someone is really addicted to gambling, it's really hard to stop it. As he admitted even if he won that big, it's not enough for him to stop. Maybe it was really into his head and emotion that he can't stop it even he knows that he is gambling the investors money and including his own funds as well.

And mostly the case, the gamblers will only admit it after he lost everything.

So this is a brutal reality, I'm not saying that it could be because of the covid that most people feel into depression and then thinks that gambling is a good outlet and a way out, but it is not.

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Quote from: jostorres on January 12, 2023, 05:38:34 AM

Quote from: coolcoinz on January 11, 2023, 03:57:59 PM

Another one bites the dust. I don't get why there's so many scumbags in this space and all of them show their faces trying to make you feel like they're legit and honest but it doesn't take a lot to make them turn. Mashinsky from Celsius, Do Kwon, SBF... People should learn that there's no investing in personal endeavors in this space. When you're sending money to someone in hopes that you'll make money this way you're not investing, you're donating!
I don't believe that people will ever learn to be careful with cryptocurrencies, no matter how many scammers make money on their stupidity.

There will always be scammers in this space because like you said, there are people who are seem to be hard-headed. Then are newbies but they can possibly prevent it if they will take the time to do a research. It is still possible to invest in our own, so why not do this instead of trusting someone else out there?

There are scammers exist because there are still many people believe on crazy things they do and as long as many will believe that they can be rich quickly by doing nothing also believe that someone could make them rich then all of this will continue. And for the case of that streamer maybe he's been badly addicted because he's already in the level where he already use the money he didn't own and that will be so bad to him together with those people who trust him. This remind us all that never trust our money to anyone no matter how famous they are.

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Quote from: Yaunfitda on January 11, 2023, 08:15:40 PM

But not sure why gambling is the number one activity that this guys went.

He usually stream different games never saw him do gambling before. But on his apology letter he told that it begins on one sponsored stream on the gambling platform.

Quote from: acroman08 on January 12, 2023, 05:35:54 AM

looks like he does have a pretty good community and he must have been a good guy for people to actually feel that way about him after what he did, and it is good that he is looking for help to treat his gambling addiction.

Yes, because that he really is before he got this scandal. But no matter what the community tells he should take the consequences of the action he did. There's no mentioned amount of how much did he get from the investors but that should be millions he need to refund to his investors or its jail time.

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Quote from: coolcoinz on January 11, 2023, 03:57:59 PM

Another one bites the dust. I don't get why there's so many scumbags in this space and all of them show their faces trying to make you feel like they're legit and honest but it doesn't take a lot to make them turn. Mashinsky from Celsius, Do Kwon, SBF... People should learn that there's no investing in personal endeavors in this space. When you're sending money to someone in hopes that you'll make money this way you're not investing, you're donating!
I don't believe that people will ever learn to be careful with cryptocurrencies, no matter how many scammers make money on their stupidity.

As the saying goes : > "money is the root of all evil" however I don't know maybe there are some out there who are truly sincere by the time they start but got distracted eventually and do something inappropriate. You know it's also hard to be good at all times but having a faith in Christ may help us out to stay on the correct path.

There will always be scammers in this space because like you said, there are people who are seem to be hard-headed. Then are newbies but they can possibly prevent it if they will take the time to do a research. It is still possible to invest in our own, so why not do this instead of trusting someone else out there?

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Quote from: rdbase on January 11, 2023, 08:10:17 AM

Quote from: acroman08 on January 11, 2023, 06:51:46 AM

he is lucky that most of the people in his community are somewhat sympathetic to him and is being considerate of their comments on his Twitter (at least according to the article) but I'm pretty sure someone will take him to court for what he did despite him regretting what happened.

This does have a ripple effect of with what happened to one of the largest centralize exchanges and what they did with their user's funds in gambling it all away.
Which to me is criminal.
But from what I've heard and seen of what transpired in the past week, many have forgave him and he has admitted to self excluding from that casino inwhich he gambled all his money away also has seeked help for his addiction.

looks like he does have a pretty good community and he must have been a good guy for people to actually feel that way about him after what he did, and it is good that he is looking for help to treat his gambling addiction. I am still certain though that there are people who are mad at him and would most likely bring him to court, and to be honest he really does need to be brought to court.

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Quote from: xSkylarx on January 11, 2023, 11:40:00 PM

Addiction is a disease, depending on how we interpret it. This should be cured by going to the professionals. If you are one of his investors, for sure you'll be angry since he gambles it all even though he loses all of his savings, but how can he come back to pay those investors? and he is still addicted if he hasn't sought any professional support. Addiction to gambling can really make you lose your mind, and your acts are uncontrollable. I am hoping that he can recover from it and also be able to repay his investors.

The developer is too greedy, he already earn money by creating few projects since there's an investors who buy his coins, but he's not trust about the process and trying to double his money. With this losses he will easily abandon his old projects and start to create new projects in order to get money, the worst thing he might create malicious code to hack someone wallet or create ponzi scheme project.

It's really serious since his addiction will ruining his life and also newbie who invest in his projects.

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Unfortunate. Seems really dumb in my eyes but that's just how addiction actually eats someone. Nonetheless, since there were victims of his addiction and not only his funds, he has to pay the price for it which I reckon would take quite some time to pay back since not only his funds, but also his reputation as a streamer was hit. Not sure though whether there are other sources of income for him, but at the very least in that aspect, his career can be called over, or at least, for the time being anyway.

The article didn't indicate anything about paying back though, wished they could've elaborated on that after stating who were the victims.

xSkylarx

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Addiction is a disease, depending on how we interpret it. This should be cured by going to the professionals. If you are one of his investors, for sure you'll be angry since he gambles it all even though he loses all of his savings, but how can he come back to pay those investors? and he is still addicted if he hasn't sought any professional support. Addiction to gambling can really make you lose your mind, and your acts are uncontrollable. I am hoping that he can recover from it and also be able to repay his investors.

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Quote from: Don Pedro Dinero on January 11, 2023, 10:50:48 PM

Quote from: Darker45 on January 11, 2023, 09:01:00 PM

Gambling addiction is real. And it could hit anybody who is exposed to gambling, rich and poor alike.

Yes, but there is also a point of personal responsibility. We are not going to leave people who gamble, and lose, millions that are not theirs without responsibility because they have their share of responsibility. Besides, if gamblers were somehow considered as victims of an addiction they cannot control, it would give carte blanche for people to cheat en masse and they could excuse themselves in order to avoid criminal consequences.

Oh yeah, they shouldn't be allowed to run free just because they're victims of addiction. It isn't the way it is. If they stole the money because they can't resist that gambling urge due to addiction, it doesn't mean they're excused. They will have to face the legal consequences of their actions. However, they will receive professional treatment just the same.

That addicts are basically patients suffering from a neuropsychological disorder is not a legally valid excuse. It cannot protect them from the penalties of committing crimes.

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Quote from: Darker45 on January 11, 2023, 09:01:00 PM

Gambling addiction is real. And it could hit anybody who is exposed to gambling, rich and poor alike.

Quote from: NicNacCoin on January 11, 2023, 09:48:55 PM

Well, when gambling addiction hits you, no matter how rich or poor you are, this will be a possible illness to every gambler.

Yes, but there is also a point of personal responsibility. We are not going to leave people who gamble, and lose, millions that are not theirs without responsibility because they have their share of responsibility. Besides, if gamblers were somehow considered as victims of an addiction they cannot control, it would give carte blanche for people to cheat en masse and they could excuse themselves in order to avoid criminal consequences.

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Quote from: PX-Z on January 11, 2023, 05:36:05 AM

Quote from: gamblingnews.com

DNP3 confessed to having gambled away all investors’ funds, the result of debilitating gambling addiction which forced him into desperation. DNP3 said that his addiction began unexpectedly, and it quickly took a hold of him.

DNP3 confessed to having spent all money he could find on a popular crypto gambling brand, chasing elusive big wins. “Even when the big wins did happen it wasn’t enough,” the streamer said. He admitted to having lost everything – including not only the investors’ funds but also his own savings.

I knew this guy because i followed him on twitter on his philanthropist activities on the platform also on twitch, that was a year ago, i guess. And was surprised after reading this news.
The act of using the investors funds without their consent is illegal in any way, worst if you gamble it all.

Well, when gambling addiction hits you, no matter how rich or poor you are, this will be a possible illness to every gambler. That's why gambling moderately.

I just read this news which has posted few days ago but never saw this topic on gambling related boards from 1-5 pages. Let me know if there's an existing discussion related to this so i can lock this instead.

Source: Gamblingnews.com

Gambling is an addiction that once people get into it, they cannot get out of it. A gambling addict can never get his life in order. People who become addicted to gambling sometimes take loans and take bets. They are confident that they will win the bet and pay back their loan and take the rest of the money to gamble again. Gamblers never consider that gambling with borrowed money is a bad decision. That's exactly what happened with DNP3. They gambled with investment money confident that they would win the gamble and return the money to the investors. But they made a big loss there. And then they probably end up in jail.

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Gambling addiction is real. And it could hit anybody who is exposed to gambling, rich and poor alike. FTX's Sam Bankman-Fried also gambled with customers' money. I have also read news of employees who have access to a company's finances that also gambled the company's money. I can even remember there was a company here in my country which has been operating for so long only to be brought down by a trusted employee because of gambling addiction.

Gamblers should start having self-discipline very early. Otherwise, it might really be hard to control and everything could be affected.

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Oh well, people are really tempted when they see huge amount of money flowing on their side. But not sure why gambling is the number one activity that this guys went.

Perhaps it was really the greed of this people to feel like they are unstoppable and can do what they wishes even if it cost the money of their investors and their reputation. I'm sure majority of us are gambler here, but we take priorities in life and this could be a lessons for others not to play with anyone's money. Just play the money that you can afford to lose.

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This has been turning into a trend. People keep on losing their own fund on someone's gamble. I don't understand why these people are using someone's fund for their pleasure. If not he could've already mentioned about the risk of people's fund. Few will be interested, and from the winning he should settle certain percentage to the investors. In that case investors would bear the loss. This is completely wrong and he should find solution to settle the lost funds.

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Day by day we are seeing a CEO or someone who has a reputation that holds funds of other people using it to gamble in a casino. They are being exposed and we might see news like this more often. This is a big controversy and this could affect the future of aspiring crowdfunding projects since there are history that many reputable people who are using people money to gamble whatever the reason may it be. This people is certainly addicted based on the description and he isn't contented with the achievements he has like hitting a big win. It is morally and legally wrong for him to do that, I will not be shocked if this gambler has or will receive his lawsuit.

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That was an irresponsible act and clearly, that person falls into the trap of gambling.

Not reading the article but what's happened to compensate the investors?

Although there's a good part where that person really admits that he was shit before and since realized his wrongdoings, it means he able to rise from being trap into the gambling and now doing his best to not let it happened again.

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Quote from: coolcoinz on January 11, 2023, 03:57:59 PM

Another one bites the dust. I don't get why there's so many scumbags in this space and all of them show their faces trying to make you feel like they're legit and honest but it doesn't take a lot to make them turn. Mashinsky from Celsius, Do Kwon, SBF... People should learn that there's no investing in personal endeavors in this space. When you're sending money to someone in hopes that you'll make money this way you're not investing, you're donating!
I don't believe that people will ever learn to be careful with cryptocurrencies, no matter how many scammers make money on their stupidity.

It's because new investors are trusting more personalities than themselves. It's like an easy gateway for them to be invested through someone who thinks an expert on it.
But it just so happens that most of these "experts" aren't really experts and the actual experts can't be found in the dumb of social media and hiding from being a public figure.
The sad truth even though years have passed, there are still many investors that fall for the "invest and earn by doing nothing" tag.

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Quote from: acroman08 on January 11, 2023, 06:51:46 AM

he is lucky that most of the people in his community are somewhat sympathetic to him and is being considerate of their comments on his Twitter (at least according to the article) but I'm pretty sure someone will take him to court for what he did despite him regretting what happened.

Yes you will find this on his twitter handle^[1], those are the followers who followed him for many years coz he's not the guy who really something into gambling and become a gambling addict. Because what he only mostly do is stream games but the worst comes, and he should faced it.

Quote from: dothebeats on January 11, 2023, 01:09:04 PM

He doesn't deserve to hold any funds after this. He clearly has no self-control at all and is easily tempted by the amount of money that he has on his disposal.

Yeah, after this incident, every potential investors will doubt his credibility now. This guy is not actually what he is, before the addiction. He give thousands of money like 5k to 10k to his followers/viewers, got his reputation, build a company, make money into it, them boom. Destroyed because of addiction.

[1] https://twitter.com/DNPthree

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Another one bites the dust. I don't get why there's so many scumbags in this space and all of them show their faces trying to make you feel like they're legit and honest but it doesn't take a lot to make them turn. Mashinsky from Celsius, Do Kwon, SBF... People should learn that there's no investing in personal endeavors in this space. When you're sending money to someone in hopes that you'll make money this way you're not investing, you're donating!
I don't believe that people will ever learn to be careful with cryptocurrencies, no matter how many scammers make money on their stupidity.

Topic: Streamer and Crypto Guru Gambles Away Investor Funds (Read 337 times)