Business News Report
January 04, 2023

Twitch streamer DNP3 admits to gambling addiction, uses up investor funds

In Brief

DNP3 has created crypto projects like Goobers NFT, Gridcraft Network, and CluCoin.

The streamer admitted to using investor funds to fund his gaming addiction.

Twitch streamer DNP3 is the founder of a number of crypto projects, including Goobers NFT, metaverse Minecraft-compatible platform Gridcraft Network,  charity-focused CluCoin, and play-to-earn game Xenia. Yesterday, DNP3 issued an apology for using investor funds to feed his gambling addiction.

His journey with gambling started out innocently enough. As per his tweet, everything “[s]tarted with a sponsored stream and unleashed an addiction I never knew I had.” After losing his own funds, he chose to gamble away investor funds.

“Over the last year I got incredibly addicted to gambling. Every dollar I could find I would put into 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 wrote.

DNP3 said he would be working “with a help group to start the path to recovery.” At the moment of writing, we do not know how badly the businesses were affected or how much money is missing. Since the announcement, the price of CluCoin has plummeted by 73.87%, while Goobers’ floor price has gone down by -20.5%.

Xenia has already tweeted that DNP3 will be stepping down from his role as the CEO; he will be also resigning from the leadership positions at CluCoin and his other projects. While the project remains positive that it will survive this controversy, it doesn’t mean it hasn’t been affected negatively by what happened. It is already clear the schedule will be affected as the company “will be pushing launch, land sales, etc. to a later date.”

While gambling can be fun every once in a while, gambling addiction is a serious issue, especially for those struggling with other addictions or issues with self-control. The diversity and ubiquity of online gambling sites can make it more difficult to break the cycle and stop when the game is just at your fingertips. Statistics show that 1% of American players have serious problems with casino games.

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Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.

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Karolina Gaszcz
Karolina Gaszcz

Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.

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