YouTuber SunnyDecree Says Ian Balina Threatens to Sue for Defamation Over Crypto Scam Controversy
Ian Balina is a very famous influencer in the cryptocurrency space that has been involved in many controversies over the last years. Balina has a very large audience in the crypto space and has been present on mainstream media outlets such as CNBC talking about virtual currencies and the crypto market.
This time, Balina has been accused by SunnyDecree, a popular YouTuber, of threatening to sue for defamation. The YouTuber has released several videos related to Ian Balina and some controversies around him.
Balina became a very controversial figure in the cryptocurrency space. He has been accused of shilling projects that did not seem good enough. He has also been very active in the Initial Coin Offering (ICO) market in 2017 when Bitcoin was skyrocketing and new projects were being launched every single day.
He has been promoting different Initial Coin Offerings in exchange for tokens. Another thing he did was to exchange partnerships with crypto exchanges in the space. He would promote these trading platforms if they listed all the projects he was working with. Clearly, this would immediately help him increase his portfolio.
In May 2017, he had a cryptocurrency portfolio $50,000 and by January 2018 he had more than $5 million. However, Balina said that he lost $2.5 million in a hack that occurred during a live stream with his followers.
One of the things that raised flags among the crypto community is that there is a lack of evidence about the things that he says. Balina mentioned that he held his private keys in cloud storage, which is not secure at all compared to cold storage wallets. Users believed that a person with the knowledge of Balina would never store such a large amount of funds in ho wallets.
About it, he commented during a conversation with CCN:
“I have spent years building my brand in the cryptocurrency space and continue to do so in exemplary fashion. Any suggestion that I faked my own hack to avoid taxes, have issues with the SEC and other such lies will be met with legal action.”
According to SunnyDecree, Ian Balina’s faking a hack has no sense because he would still have to pay his taxes. Nonetheless, he marked that it was not responsible to store the private keys on cloud storage. The YouTuber has also claimed that a law firm that works with Balina contacted him and threatened to sue for the things he said, which are considered false.
Also during the conversation, SunnyDecree mentioned that Balina was getting prepared for a comeback to the crypto market after all the issues that affected him.