{"id":251130,"date":"2023-01-04T06:54:41","date_gmt":"2023-01-04T12:54:41","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=251130"},"modified":"2023-01-04T13:57:54","modified_gmt":"2023-01-04T19:57:54","slug":"nft-developer-twitch-streamer-steals-millions-in-user-funds-to-gamble","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/nft-developer-twitch-streamer-steals-millions-in-user-funds-to-gamble\/","title":{"rendered":"NFT Developer, Twitch Streamer Steals Millions in User Funds to Gamble"},"content":{"rendered":"<p>A <a href=\"https:\/\/www.casino.org\/news\/recent-gambling-content-ban-on-twitch-leads-to-20-loss-in-viewership\/\">Twitch<\/a> streamer may have cost hundreds of people millions of dollars. DNP3, whose real identity isn&#8217;t known, used investment money from various NFT (non-fungible token) projects he founded to gamble, leaving the backers \u2013 and himself \u2013 broke.<\/p>\n<figure id=\"attachment_251209\" aria-describedby=\"caption-attachment-251209\" data-style=\"width: 1006px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-251209\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Goobers-NFTs.jpg\" alt=\"Goobers NFTs\" width=\"1006\" height=\"670\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Goobers-NFTs.jpg 1006w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Goobers-NFTs-858x571.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Goobers-NFTs-430x286.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Goobers-NFTs-302x200.jpg 302w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Goobers-NFTs-238x158.jpg 238w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Goobers-NFTs-194x128.jpg 194w\" sizes=\"(max-width: 1006px) 100vw, 1006px\" \/><figcaption  id=\"caption-attachment-251209\"class=\"text-description\">The images of Goobers NFTs, created by Twitch streamer DNP3. He has admitted that he stole investor funds from his cryptocurrency and NFT projects to spend on gambling. (Image: Crypto News)<\/figcaption><\/figure>\n<p>DNP3 came clean via a Twitter post that began with the eye-catching phrase, &#8220;I&#8217;m sorry.&#8221; He then went into a long explanation of what he had done, admitting that he violated his backers&#8217; trust and had illegally embezzled their money for his gambling habit.<\/p>\n<p><strong>NFTs are digital assets that represent collectible items, such as artwork, music, and more. Because they reside on a blockchain, they are immutable, verifiably unique, and immune to counterfeiting. Ownership cannot be forged and there is a permanent, openly-accessible record of all activity related to each asset.<\/strong><\/p>\n<p>The streamer used his Twitch popularity to gain support for three projects he started, including the Metaverse platform Gridcraft Network, the Goobers NFT series, and a cryptocurrency designed for charitable causes, CluCoin (CLU). However, he showed no restraint as he took the money and used it for his own purposes.<\/p>\n<h2>More Bad News for Crypto<\/h2>\n<p>The revelation comes on the heels of one of the largest cryptocurrency failures to date, that of the FTX trading platform. Sam Bankman-Fried, the founder of the exchange, will stand trial later this year for the platform&#8217;s implosion that saw around $32 billion disappear. He has pleaded not guilty in a US court after the country extradited him from the Bahamas.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I\u2019m sorry.<\/p>\n<p>Read: <a href=\"https:\/\/t.co\/RKM1wYggnC\">https:\/\/t.co\/RKM1wYggnC<\/a><\/p>\n<p>&mdash; \u26ab\ufe0f (@DNPthree) <a href=\"https:\/\/twitter.com\/DNPthree\/status\/1610367045442637824?ref_src=twsrc%5Etfw\">January 3, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>DNP3&#8217;s failure isn&#8217;t on the same scale as that of Bankman-Fried, who once helped the White House form a COVID-19 prevention policy. However, it is still fraud and deception that further exacerbates an already unstable attitude toward the crypto community.<\/p>\n<blockquote class=\"main-blockquote\"><p><strong>Every dollar I could find I would put into [crypto casino] <a href=\"https:\/\/www.casino.org\/news\/stake-com-faces-multimillion-dollar-lawsuit-from-former-partner\/\">Stake<\/a> in hopes of winning big,&#8221;<\/strong> wrote DNP3 on Twitter. <strong>&#8220;Even when the big wins did happen, it wasn&#8217;t enough. Eventually, I lost everything. In addition to my own life savings, I also irresponsibly used investor funds to try and &#8216;get my money back&#8217; from the casino, which was wrong for so many reasons.&#8221;<\/strong><\/p><\/blockquote>\n<p>The streamer&#8217;s sudden admission comes after he confessed that he is &#8220;completely broken, both financially and spiritually.&#8221; He said he is working with gambling addiction specialists and coming forward publicly may have been part of the rehabilitation process.<\/p>\n<h2>No Transparency<\/h2>\n<p>There will now need to be an investigation to determine how much damage he caused. After DNP3&#8217;s revelation, the price of CLU lost 63% before falling to 75% at print time, and Goobers lost 9%.<\/p>\n<div class=\"callout\">\n<p>Currently, there are reportedly just under 297 trillion CLU in circulation, which, after the price drop, are worth around $181.553. Last week, they would have been worth $881.810.<\/p>\n<\/div>\n<p>The NFT series, according to its website, includes 15K unique <a href=\"https:\/\/www.casino.org\/news\/spains-loot-box-debate-draws-attention-from-dapper-labs-and-its-laliga-tied-nft-operations\/\">NFTs<\/a>. It is based on a fictional story about a chemical company whose products come to life and enter the wild. The series contains NFTs of varying values, ranging from 0.0169 Ether (ETH) to 5ETH (US$21.14 to $6,253, based on current ETH prices.)<\/p>\n<p>OpenSea, the NFT trading platform that sells Goobers, indicates that there have been transactions for Goobers totaling 968ETH. This alone is worth $1.21 million.<\/p>\n<p>Because of a lack of transparency, there is no way to determine the actual financial value that DNP3 may have accumulated or gambled. It&#8217;s unclear if Stake will have to respond to any potential legal battles that might arise.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Twitch streamer may have cost hundreds of people millions of dollars. DNP3, whose real identity isn&#8217;t known, used investment money from various NFT (non-fungible token) projects he founded to gamble, leaving the backers \u2013 and himself \u2013 broke. DNP3 came clean via a Twitter post that began with the eye-catching phrase, &#8220;I&#8217;m sorry.&#8221; He [&hellip;]<\/p>\n","protected":false},"author":64,"featured_media":251209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,24066],"tags":[81892,13628,83376],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NFT Developer, Twitch Streamer Steals Millions in User Funds to Gamble - Casino.org<\/title>\n<meta name=\"description\" content=\"A Twitch streamer may have cost hundreds of people millions of dollars. 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