Ethereum based NFT founder admits to gambling away millions of dollars worth of user funds


  • Ethereum network based NFT collection Goobers admitted to gambling away user funds. 
  • Goobers NFT is a collection of 15,000 entirely unique and randomized digital collectibles and with a total transaction volume of 968 ETH. 
  • DNP3, the founder of the collection, was involved in other projects CLU, Xenia and Gridcraft and will share further details of lost user funds soon. 

Ethereum based NFT collection Goobers lost customer funds, founder revealed that he gambled away customer funds. The founder DNP3 shared the details with his followers on Twitter and informed that further information on other projects CLU, Xenia and Gridcraft will be out soon. 

Also read: Ethereum v. Bitcoin battle continues as ETH offers more investment opportunities to traders

Ethereum based Goobers NFT collection users lose funds to founder’s gambling addiction

Ethereum network based Goobers NFT collection received an update on how their funds were gambled away by the project’s founder DNP3. The founder addressed the situation and informed his 637,900 followers that he lost his own life savings and investor funds trying to “win big” at the casino. 

Goobers NFTs is a collection of 15,000 randomized collectibles on the Ethereum blockchain. The project was launched in September 2021 and has a total transaction volume of 968 ETH, approximately $1.2 million. 

DNP3 is yet to share details of the extent of customer funds lost and recovery plan if any. The founder blamed his gambling addiction for the situation and informed his followers of his association with other cryptocurrency projects, CLU token, Xenia Coin and “Play and Earn” metaverse platform Gridcraft. 

In his post, DNP3 wrote,

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 shed light on the challenge faced by him, stating that his addiction started with a sponsored stream. Based on the collection’s floor price and trade volume it is estimated that millions of dollars worth of funds were gambled away. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi

Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi

Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.

More Cryptocurrencies News

Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high

Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high

Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.

More Cryptocurrencies News

Ethereum cancels rally expectations as Consensys sues SEC over ETH security status

Ethereum cancels rally expectations as Consensys sues SEC over ETH security status

Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.

More Ethereum News

FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask

FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask

US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.

More Cryptocurrencies News

Bitcoin: BTC post-halving rally could be partially priced in Premium

Bitcoin: BTC post-halving rally could be partially priced in

Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

Read full analysis

BTC

ETH

XRP